Seaspan Benefactor Bypasses Panama Canal Queue with $4 Million Bid
TL;DR Summary
A container ship, the Seaspan Benefactor, paid about $4 million in a private Panama Canal auction to jump ahead of the queue amid record wait times driven by Iran-related congestion and ongoing canal maintenance, illustrating how buyers bid to bypass delays; auction prices have exceeded $1 million, while broader bottlenecks are compounded by El Niño‑driven drought that is restricting drafts.
- Ship Pays $4 Million to Cut the Line at Panama Canal gCaptain
- Panama canal fees soar due to Iran war and El Niño as ship ‘pays $4m to jump queue’ The Guardian
- Panama Canal charges ships record $1m to cross with Hormuz closed Yahoo Finance
- Panama Canal Auction Prices Soar as Wait Builds and Water Level Falls The Maritime Executive
- Panama Canal fees hit record high as El Niño and Iran war choke shipping ft.com
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