The Panama Canal may make a profit of over $5.2 billion due to the closure of Hormuz.
The closure of the Strait of Hormuz due to the conflict in the Middle East has led to a sharp increase in shipping through the Panama Canal, and its revenues by the end of fiscal year 2026 will exceed the initial forecast of $5.2 billion. This was reported by Bloomberg on June 26.
"Revenues for the fiscal year ending September 30 will be slightly higher than the initial estimate," said Ilya Espino de Marotta, the future head of the Panama Canal Administration.
According to her, the growth is due to increased traffic and auction payments from ships willing to pay for an extraordinary passage. In April, one ship paid an additional $4 million to get to the front of the queue, and the waiting time for unarmored crossings increased.
At the peak of the closure of the Hormuz Canal, the Panamanian was passing 40-41 ships per day, which is higher than the usual 34-35. Traffic has now dropped to 36-38 ships, but bookings for June and July remain high, which will support revenue, the article says.
On the same day, it was also reported that oil prices had fallen to their lowest levels since February 27 amid rising supplies from the Middle East after the resumption of shipping through the Strait of Hormuz.
Переведено сервисом «Яндекс Переводчик»
