Carriers

One ship in Panama Canal paid USD 2.4m to skip the line

Ships arriving without pre-booked slots at the Panama Canal are paying huge sums in auction to jump the line, according to gas carrier.
"You can skip the queue but it’s immensely costly," said Avance Gas chief Oystein Kalleklev in an earnings call this week. | Photo: Luis Acosta/AFP/Ritzau Scanpix
"You can skip the queue but it’s immensely costly," said Avance Gas chief Oystein Kalleklev in an earnings call this week. | Photo: Luis Acosta/AFP/Ritzau Scanpix
By Alex Longley, Ruth Liao and Anna Shiryaevskaya, Bloomberg

Shippers are paying up to USD 2.4m per vessel if they want to beat a logjam of carriers waiting to sail through the drought-affected Panama Canal, according to one company active in the market.

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