Media: Panama Canal traffic surges after Strait of Hormuz closure

Traffic through the Panama Canal has risen sharply following the closure of the Strait of Hormuz, as global shipping routes adjust to disruptions in energy supplies, BFM reported.

According to data from the Panama Canal Authority, vessel traffic increased by nearly 4% in the first half of 2026 compared to the same period a year earlier. The shift reflects significant changes in global oil and gas logistics after Iran blocked the Strait of Hormuz in response to strikes by the United States and Israel, forcing shipping companies to reroute cargo flows.

With traditional routes disrupted, Asian refiners have increasingly turned to suppliers on the US East Coast, transporting energy shipments through the Panama Canal as an alternative corridor. This has pushed the average number of daily transits up to 37 vessels, with peaks of up to 40 ships on particularly busy days.

The surge in demand has also transformed transit procedures. A de facto auction system has emerged, under which vessels without prior booking face average waiting times of around five days. However, operators can secure priority passage by paying fees of up to $4 million.

Overall, more than 6,200 vessels transited the canal during the first half of the 2025/26 fiscal year, marking a 3.7% increase year-on-year. The United States and China remain the canal’s largest users. The strategic waterway accounts for roughly 5% of global maritime trade.

By Tamilla Hasanova