Financial Ports

$5.3m Canal Bid Shatters Record as Drought Chokes Panama Trade

CLAVE 1 / 4$5.3 million paid by SK Gas for a single Panama Canal transit slot—the highest auction bid on record.

CLAVE 2 / 4Previous record stood at $4.6 million, set earlier this month by SK Shipping for another LPG carrier.

CLAVE 3 / 4G. Spirit, a 54,502-tonne LPG carrier, was waiting on the Pacific side for its northbound transit.

CLAVE 4 / 4Panama Canal Authority reports median auction prices surged from $55,000 before February to nearly 100 times that amount.

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