Gas tankers avoid Panama Canal through costly alternative routes

Gas tankers are avoiding the Panama Canal because of long delays and high fees. Wait times have reached 19 days, the longest since 2022. One supertanker, the Gas Scorpio, sailed around South America instead, adding about one month to its journey. This route was last used in 2023, when low rainfall blocked canal traffic. Some operators have chosen a different solution. Two large tankers met near Panama's Pacific coast and transferred their gas cargo between ships. This allows one smaller tanker to carry the gas through the canal while the larger ship waits. Companies are also paying millions to move to the front of the queue. One tanker paid $4.6 million at auction just to pass through sooner.