Panama Canal transit fees hit record $2.5 million amid El Niño and war demand

Transit fees on the Panama Canal's busiest slots soared to $1.1 million in August — more than 16 times higher than a year earlier — while passage through the canal's largest locks now costs up to $2.5 million, a historic record. Two factors are driving the surge: the El Niño weather phenomenon reducing water levels and sharply increased demand for transit linked to the war with Iran. Ships are competing fiercely for limited available slots.

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