18 Hrs
Source:
الاقتصادية
Asian shipping firm sets Panama crossing record
An Asian shipping company paid a record amount of $5.3 million to pass through the Panama Canal, in an auction held by the authority last month, surpassing the previous figure of $4.6 million paid by another company for the same purpose. This comes amid increasing demand for urgent transit through the canal due to the impact of Iran's war on global trade routes, and prolonged delays of up to 17 days for ships arriving without bookings, as the authority tightens transit schedules and cargo volume limits due to the potential for drought. This price surge reflects the growing demand amid climatic factors such as the possible El Niño pattern, which could threaten water levels in the canal and affect shipping operations.
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