South Korean company SK Gas paid the record sum for the G Spirit to transit the shipping lane on Sep 1, two days before canal authorities reduce the number of transits due to the El Nino weather phenomenon, Bloomberg reported.

Demand to urgently pass through the waterway has soared after the Iran war upended global trade routes, particularly to Asia.

A liquefied petroleum gas tanker has paid a record R84.8 million for priority passage through the Panama Canal, ahead of transit restrictions linked to El Niño and severe drought.

A tanker carrying liquefied petroleum gas has paid $5.3 million for priority passage through the Panama Canal ahead of El Nino-related restrictions, the waterway’s deputy…