OIL SHIPMENTS THROUGH PANAMA CANAL GROW BY 74 PERCENT

PANAMA CITY, MAY 12 /SRNA/ - Shipments of oil and petroleum products through the Panama Canal between the Atlantic and Pacific Oceans climbed by 74 per cent this April compared to the 2025 average due to the disruption of shipping flows caused by the blockade of the Strait of Hormuz, the Japanese Nikkei newspaper reported.

"These shipments are primarily directed from the US East Coast to Asian countries that are facing a sharp reduction in supplies from the Persian Gulf," according to the report.

The report noted that up to 1.77 million barrels of oil and petroleum products were delivered through the Panama Canal per day in April, which is an all-time high since such statistics were compiled in 2013, TASS reported.

Oil and petroleum product shipments through the Panama Canal to Japan have increased more than fivefold compared to 2025 levels," the report added.

Nikkei states that this route's capacity is almost exhausted now, with long queues of ships piling up. Priority passage is auctioned off, with fees already reaching up to a million dollars.