Panama Canal’s $5.3M Slot Auction: How LPG Traders Are Burning Cash

For the second time in a month, a South Korean LPG trader has rewritten the rulebook on what a Panama Canal transit is worth. SK Gas, the LPG arm of SK Group, just shelled out $5.3 million to secure a September 1 slot for its carrier G. The target? A single loading berth at Enterprise’s terminal on the Houston Ship Channel, where both vessels are locked into long-term contracts to haul LPG to East Asia. The New Normal: Paying Millions to Skip the Queue: Panama Canal The math is brutal:…

Keep reading with your free Financial Ports account

This story is part of FP Plus, the exclusive supplement of Financial Ports. Creating an account is free — and it unlocks CAMAL AI too.

Create free account I already have an account

No cost, no card required. You can delete your account whenever you like.