April 24, 2026, 11:05 GMT
Global shipping firms are paying up to $4 million per vessel to cross the Panama Canal as the Strait of Hormuz remains choked by U.S.–Iran tensions. The extraordinary toll reflects the desperation of businesses to reroute oil and goods away from the Gulf, where blockades and threats have stranded tankers and rattled markets. Analysts warn that such costly diversions could ripple through global supply chains, raising prices and underscoring the mounting economic fallout of the standoff.
(Source – APNEWS)
—Agencies
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