Back to today’s briefing

Story perspectives

Companies Pay $4M for Panama Canal Slots After Hormuz Seizure

4/24/2026

26 4 Full Breakdown

Summary

Story summary

Companies are paying up to $4 million extra for Panama Canal slots after the Strait of Hormuz closed.
Panama’s foreign ministry said Iran seized the Panama-flagged MSC Francesca in the Strait of Hormuz, custody unclear.
The Panama Canal Authority said the average supplemental fee rose to about $425 000, up from $250-300 000.
Canal administrator Ricaurte Vásquez reported some firms paid $3-4 million above the standard fee to reroute fuel shipments.

1 of 1

Story summary

Companies are paying up to $4 million extra for Panama Canal slots after the Strait of Hormuz closed.
Panama’s foreign ministry said Iran seized the Panama-flagged MSC Francesca in the Strait of Hormuz, custody unclear.
The Panama Canal Authority said the average supplemental fee rose to about $425 000, up from $250-300 000.
Canal administrator Ricaurte Vásquez reported some firms paid $3-4 million above the standard fee to reroute fuel shipments.