Family collection of Infrogmation of New Orleans
As reported by Argus Media, daily auctions for canal passage drew five times the number of bids compared to prior to the conflict, with the average slot price for the highly desired Panamax locks hitting $837,500.
The war in Iran caused one of the most significant disruptions in energy supply history, drastically decreasing output in the Persian Gulf area and limiting supplies to refineries across Asia.
The closure of the Strait of Hormuz has caused significant disruptions in global logistics and energy supply chains, more diverted cargo, and increased freight costs.
Analytics firm Kpler reports that the growth of US energy exports via the Panama Canal—the quickest passage from the Gulf of Mexico to Asia—has resulted in tanker waiting times escalating to 4.25 days, the highest figure in six weeks.
As a result, businesses have had to pay significant amounts to avoid lines at the canal entry: individual auction slots at the biggest locks hit $4 million in April, according to Argus.
source: ft.com
The war in Iran caused one of the most significant disruptions in energy supply history, drastically decreasing output in the Persian Gulf area and limiting supplies to refineries across Asia.
The closure of the Strait of Hormuz has caused significant disruptions in global logistics and energy supply chains, more diverted cargo, and increased freight costs.
Analytics firm Kpler reports that the growth of US energy exports via the Panama Canal—the quickest passage from the Gulf of Mexico to Asia—has resulted in tanker waiting times escalating to 4.25 days, the highest figure in six weeks.
As a result, businesses have had to pay significant amounts to avoid lines at the canal entry: individual auction slots at the biggest locks hit $4 million in April, according to Argus.
source: ft.com