Hormuz blocked. Prices for passing through the Panama Canal have increased 10-fold

The almost complete blockade of the Strait of Hormuz that has been in place for almost two months has resulted in major changes in the traffic of merchant ships. The Panama Canal benefits from this, as the price for one ship to pass through has increased 10 times, reported Radio France Info.

Asian countries most affected by the ongoing crisis are looking for new sea routes and sources of liquid fuel supplies, and transport companies are ready to pay a high price for this.

Four million dollars is the amount many companies currently pay to have their ships pass through the Panama Canal – said his administration. Previously, the transit of one ship cost on average 300-400 thousand. dollars, which means that the price has increased approximately tenfold.

Under normal conditions, about 6 percent of the world's water flows through the Panama Canal. goods in world trade.

The US and Israel attacked Iran on February 28, which responded by striking the Persian Gulf countries and virtually closing the Strait of Hormuz, and the US blocked Iranian ports shortly thereafter. There is currently a ceasefire.

The blockade of Hormuz resulted in an increase in fuel and fertilizer prices on world markets. Before the war, from 20 to 45 percent of goods were transported through the strait. key inputs for agri-food production and about one fifth of the world volume of crude oil and liquefied natural gas. (PAP)

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