Closure of Strait of Hormuz brought record revenues to Panama Canal
Closure of the Strait of Hormuz due to the conflict in the Middle East led to a sharp increase in shipping through the Panama Canal, and its revenues for the 2026 fiscal year will exceed the initial forecast of $5.2 billion.
This was reported by the agency Bloomberg.
“Revenues for the fiscal year ending September 30 will be slightly above the initial estimate,” said Ilya Espino de Marotta, the future head of the Panama Canal administration.
According to her, the growth was ensured by an increase in traffic and auction payments from vessels willing to pay for priority passage. In April, one vessel paid an additional $4 million to get to the front of the line, and waiting times for unbooked transits increased.
At the peak of the closure of the Strait of Hormuz, the Panama Canal passed 40–41 vessels per day, above the usual 34–35. Traffic has now decreased to 36–38 vessels, but bookings for June and July remain high, which will support revenues, the article specifies.
