Story perspectives

Seaspan Benefactor Pays $4M to Jump Panama Canal Queue

8/13/2026

Summary

Story summary

Seaspan Benefactor paid $4 million in an auction to jump ahead in the Panama Canal queue.
$4 million payment was double the average of the prior seven days, Bloomberg data shows.
Neopanamax vessels without reservations now wait about 10 days for Pacific-to-Atlantic transit, the longest delay since May, Argus Media reports.
Lock maintenance, a reduced draft limit from El Niño, and the Iran war have increased congestion and shifted traders toward the Panama Canal.

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Story summary

Seaspan Benefactor paid $4 million in an auction to jump ahead in the Panama Canal queue.
$4 million payment was double the average of the prior seven days, Bloomberg data shows.
Neopanamax vessels without reservations now wait about 10 days for Pacific-to-Atlantic transit, the longest delay since May, Argus Media reports.
Lock maintenance, a reduced draft limit from El Niño, and the Iran war have increased congestion and shifted traders toward the Panama Canal.