Firms pay up to 4 million to bypass Strait of Hormuz via Panama Canal

Canal rush pricing turns a detour into a $4 million gamble

With the Strait of Hormuz disrupted by the Iran war, shipping companies are rerouting through the Panama Canal, paying steep fees for priority passage. Reports say some businesses can spend up to $4 million to move goods faster, straining global supply chains while boosting Panama’s earnings. The episode underscores how quickly geopolitical shocks can rewire trade routes worldwide.