Amid disruptions in global transport flows caused by the blockade in the Strait of Hormuz, shipments of crude oil and petroleum products through the Panama Canal surged sharply in April 2026.
According to Japan’s Nikkei newspaper, volumes through the canal linking the Atlantic and Pacific Oceans increased by 74% compared to the average level of the previous year.
The report says that the main direction of shipments has shifted toward Asian countries, driven by reduced supplies from the US East Coast.
In April, daily oil and petroleum product transit through the Panama Canal reached 1.77 million barrels, marking the highest level since 2013. Shipments bound for Japan increased more than fivefold compared to 2025.
It is reported that the canal is currently operating near full capacity, leading to long queues for vessels. Priority passage slots are being auctioned, with prices reportedly reaching up to $1 million.
The Panama Canal mainly accommodates medium and small-sized tankers. Large US supertankers are reportedly forced to reroute shipments to Asia via the Cape of Good Hope in South Africa.
