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.

Rob Schmitz

Rob Schmitz is NPR's international correspondent based in Berlin.

See stories by Rob Schmitz

Henry Larson

Mallory Yu

Mallory Yu is an associate producer for All Things Considered.

See stories by Mallory Yu

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