A South Korean gas tanker, the G. Spirit, transits the Panama Canal after its operator pays a record US$5.3 million to secure early passage. The ship carries liquefied petroleum gas and makes the crossing on Sept 1.
The payment comes as canal authorities reduce the number of transits in response to El Niño conditions, which are associated with lower water availability for canal operations. According to reporting cited by multiple outlets, the arrangement allows the vessel to pass before the reduction takes effect, with the canal scheduled to cut transits about two days later.
While outlets agree on the key figures and timing, they frame the development slightly differently. One outlet focuses on the record cost and the reason it is needed, while another emphasizes that the canal administrator confirms the payment and links it directly to the administrator’s plan to adjust transit numbers because of El Niño.
