According to CoinMeta, the increasingly severe congestion in the Panama Canal is forcing some liquefied petroleum gas (LPG) tankers to adopt unusual sailing methods, such as making rare detours around South America or making round trips to transfer cargo within the canal. Ship tracking data shows that recently, two ultra-large oil tankers conducted an unusual ship-to-ship transfer near the port of Balboa on the Pacific coast of Panama. Several traders and ship brokers confirmed this situation, stating that such operations can ensure a stable supply of LPG to Asian customers. According to argus media data, the current waiting time for ships in this waterway has reached up to 19 days, the highest level since 2022. Some operators are even paying millions of dollars to cut in line and pass through quickly. The Iran war has led to more ships taking a detour via the Panama Canal, and at the same time, drought caused by the El Niño phenomenon has resulted in lower water levels, prompting authorities to tighten restrictions on the cargo capacity of ships and the number of ships allowed to transit daily.