Prolonged disruptions to tanker traffic through the Strait of Hormuz have triggered severe cascading effects across global maritime supply chains, driving alternative shipping lanes and transit chokepoints like the Panama and Suez Canals to unprecedented cost levels. As energy commodities and vessel operators seek viable detours to avoid Middle Eastern vulnerabilities and access alternative U.S. supplies, spot demand for canal transits has skyrocketed. At the Panama Canal, which is simultaneously navigating draft and transit restrictions due to reduced watershed rainfall, vessel operators have paid record-breaking auction prices reaching up to 5.3 million dollars for single transit slots, representing a massive jump from pre-conflict average bids of around 55,000 dollars. Unbooked vessel waiting times at the canal have consequently surged from two days to 17 days. Meanwhile, the global fleet squeeze caused by longer voyage reroutings and vessel unavailability has pushed daily tanker charter rates above 1 million dollars for the first time ever, signaling a widespread efficiency collapse across international shipping routes.