Posted on September 23, 2026
By Santiago Pérez and Costas Paris
High bids to use the waterway follow shipping disruptions from the Iran war and extreme weather
The recent bids to use the 50-mile interoceanic waterway, which handles almost 6% of global trade, reflect the canal’s crucial role at a time when shipping companies have been forced to shift maritime routes.
“I can tell you that some vessels have paid $4 million or $5 million to go through,” said Ilya Espino de Marotta, who was recently appointed as canal administrator. She characterized the recent prices as a record. Some ships bid over $1 million at auction this summer, while average auction prices stood at around $150,000 between October 2025 and March 2026.
“The market dictates the price,” Espino de Marotta said in an interview. “I will not be surprised if we get again here or there (bids of) $2 million or $3 million,” she added thought you would be interested in the following story from The Wall Street Journal.
