The $300K cost is actually calculated to be just below the amount it would cost extra to sail around the cape, adjusting for other factors, of course.

There's actually a robust and competitive market for intercontinental shipping canals:

https://www.industryweek.com/ideaxchange/article/21965825/su...

The ship can hold 20,000 containers so the fee is only $15 each. By comparison, it costs $16 to take the Lincoln Tunnel into Manhattan.

Their daily operating costs are a significant fraction of the $300,000 and it saves a couple weeks.

(tens of thousands of dollars just for fuel each day)

I'd imagine it is riskier sailing all the way around Africa than through the Suez, right?

It's risky for small boats due to the huge waves down there. Huge cargo ships seem to manage ok.

They do sometimes depending on oil prices and how much of a hurry they are in https://www.imarest.org/themarineprofessional/on-the-radar/i...

Given that so many ships that are run by people who can afford $300k per trip, which could pay the annual salary for a team of analysts, it's amazing you're making this comment.

Not really. Think of costs of fuel, costs of crew, I created insurance, slower delivery times.