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Why some companies are paying more than $1 million to get through the Panama Canal

With the Strait of Hormuz effectively closed, pressure on the Panama Canal has increased. And combined with lower water levels, transit prices through the canal are soaring.

Copyright 2026 NPR

Rob Schmitz is NPR's international correspondent based in Berlin.
Henry Larson
Mallory Yu is an associate producer for All Things Considered.

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