Ports
SK Gas pays record $5.3 million for Panama Canal transit slot
SK Gas Ltd., a South Korea-based shipper, bid a record $5.3 million to secure a transit slot through the Panama Canal on Sept. 1, surpassing the previous high of $4.6 million set earlier this month. The auction-determined fee reflects soaring demand following the Iran war's disruption of global trade routes to Asia. Wait times at the canal have reached 11 days for vessels without reservations, while the Panama Canal Authority has tightened restrictions on slots and cargo capacity due to anticipated drought conditions.
