Seaspan Benefactor paid $4 million to jump Panama Canal queue
Business
A container ship called Seaspan Benefactor just paid a massive $4 million to jump the line at the Panama Canal, more than double the average of the previous seven days.
With wait times stretching over a week, this near-record bid let the ship jump to the front of the line.
Panama Canal auction prices rise
The Panama Canal's auction system lets ships pay extra for priority, and prices are up because global trade is under pressure.
Delays have gotten worse thanks to conflicts disrupting other routes, canal maintenance, and low water levels from El Nino.
Some ships are now waiting up to 10 days, so for some, skipping the queue is worth every penny.