Why Some Companies Are Paying More than $1 Million to Get Through the Panama Canal The Panama Canal is one of the most impressive feats of modern engineering, connecting the Atlantic and Pacific Oceans through a 50 mile long waterway that allows ships to traverse between two vast oceans.
Despite its reputation as a challenging passage, some companies are willing to pay exorbitant fees – upwards of $1 million or more – to transit the canal.
The History of Panamax and Maxi Ships The introduction of the Panamax ship size in 1978 marked a significant shift in the industry.