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Why some companies are paying more than $1 million to get through the Panama Canal

NPR | By Rob Schmitz,
Henry Larson, Mallory Yu
Published August 14, 2026 at 5:22 PM EDT

With the Strait of Hormuz effectively closed, pressure on the Panama Canal has increased. And combined with lower water levels, transit prices through the canal are soaring.

Copyright 2026 NPR
Business
Rob Schmitz
Rob Schmitz is NPR's international correspondent based in Berlin.
Henry Larson
Mallory Yu
Mallory Yu is an associate producer for All Things Considered.