Login Latest Bangladesh Politics World Trade Opinion Sports Entertainment Jobs Lifestyle Videos Search E-paper Eng Login World Trade Panama Canal Transit Fee Now $5 Million, Why Has the Cost Increased? Business Desk Update: September 26, 2026, 11:59 AM Panama Canal Photo: Reuters New pressure has emerged on global maritime trade. Just as the Iran war disrupts international trade routes, extreme weather in the Western Hemisphere is also hindering ship movement. This has impacted the Panama Canal.
Recently, some large cargo ships have had to pay up to $5 million to transit the Panama Canal. This raises concerns about further price increases for goods in the global market. However, it is reported that its impact on the Bangladeshi market will not be significant.
The approximately 50-mile-long Panama Canal connects the Atlantic and Pacific Oceans. About 6 percent of the world's total trade goods are transported through this canal. Due to various reasons, including the Iran war, many ships are forced to take alternative routes, further increasing the importance of the Panama Canal. This is according to the Wall Street Journal.
Ilya Espino de Marotta, who recently took over as the Administrator of the Panama Canal, told the Wall Street Journal, “Some ships have had to pay between $4 million and $5 million to pass through the canal.” In her words, this fee is at a record level. In auctions held this summer, transit fees for some ships exceeded $1 million. In contrast, the average bid in auctions from October 2025 to March 2026 was approximately $150,000.
Ilya Espino de Marotta stated, “The market sets the price.” She also believes that in the future, bids for some ships could again reach $2 million or $3 million.
Most ships transiting the Panama Canal book their transit slots months in advance. Approximately 90 percent of total ship movements are scheduled this way. This system for ships passing through the canal primarily depends on the supply of freshwater. The cost of advance booking usually depends on the type and quantity of goods on board the ship.
If the cost of ship transit through the canal increases, it could lead not only to higher shipping fares but ultimately to increased prices for various goods and consumer products. However, it is reported that the impact on Bangladesh will not be as significant.
