South Korea’s SK Gas has agreed to pay a record $5.3 million to secure a Panama Canal transit slot for its LPG carrier G. Spirit on Sept. 1, as demand rises and fewer slots are available.
The payment, worth about 7.3 billion won, is the highest amount paid in a Panama Canal transit auction, Bloomberg reported on Aug. 26.
It is also higher than the previous record of $4.6 million, or about 6.4 billion won, set earlier this month by SK Shipping. The auction gives G. Spirit the right to travel northbound through the canal.
The Panama-flagged LPG carrier has a deadweight capacity of 54,502 tonnes and is managed by SK Shipping.
The vessel was waiting on the Pacific side of the canal for its transit, according to Bloomberg data.
The auction price has risen sharply as shipping companies face longer waits and fewer canal slots.
Ships arriving without reservations have had to wait for as
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