Even as businesses spend $4 million to cross Panama Canal, they say ‘it’s safer and less expensive’ than the Strait of Hormuz
- Posted on April 24, 2026
- By Fortune
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- 1 min read
Even as businesses spend $4 million to cross Panama Canal, they say ‘it’s safer and less expensive’ than the Strait of Hormuz
While passage through the canal usually comes at a flat rate via reservations, companies without bookings can pay more to cross through an auction that awards slots to the highest bidder. The alternative would be waiting for days off the coast of Panama City.
