Panama Canal fees hit $4M as Hormuz blockade reroutes shipping traffic

Panama Canal fees have surged to $4 million due to the ongoing Hormuz blockade, while the market for Strait of Hormuz traffic normalization by May 15 sits at 16.5% YES. Market reaction The Strait of Hormuz traffic normalization market shows 16.5% YES, up from 14% yesterday. With 16 days left until resolution, traders are skeptical of any near-term traffic recovery. The Trump’s blockade announcement market for May 31, 2026, sits at 50.5% YES, down from 58% yesterday and 82% a week ago. That 31.5-point drop in a week points to growing pessimism about a diplomatic breakthrough. Both markets have real liquidity: the Hormuz market has $37,667 depth to move 5 points, while Trump’s announcement market requires $16,155.

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