The Panama Canal has lifted its earnings after the Iran war rattled the Strait of Hormuz. Daily transits jumped from 34 to an average of 38, a 20% surge, as traders rerouted shipments through the waterway. That traffic boost has pushed the channel’s revenue up by as much as 15%.

Chief financial officer Victor Vial said the canal’s net profit hit $4.1bn on $5.71bn in revenue for the fiscal year ending September 2025, while the 2026 projection climbs to $5.8bn. Auction prices have leapt from $135,000 to an average of $385,000, with only a handful surpassing $1mn.

Asian shippers, especially those moving oil and coal from the Gulf Coast, have doubled their Panama Canal usage from seven to 12–14 daily tankers. The channel’s reservation system has kept queues short, and the cost premium keeps it competitive even with the Cape of Good Hope adding 14 extra days.

Even after hostilities subside, Vial predicts a permanent uplift, as firms hedge against Middle East volatility. With water levels remaining favorable and a wet February, the Canal can sustain current volumes for months, securing a strategic edge for Asia-bound trade.