I’m pleading ignorance here. How does the Strait being closed affect shipping routes in such a way that it increases traffic through the Panama Canal so much that they can raise fees to these astronomical prices? The Suez Canal is on the other side of the peninsula. Most ships don’t need to pass through the strait.

I know the article talks about risks in the area, but surely it’s more simple to go a bit further from the coast than it is to pick an entirely different route.