Seaspan Benefactor Bypasses Panama Canal Queue with $4 Million Bid
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.