Affected by the war in Iran, global shipping companies sought alternative routes, leading to increased congestion in the Panama Canal. A container ship called Seaspan Benefactor paid a bid of $4 million to skip the line and pass through the Panama Canal as a priority, an amount close to the highest level in history. Currently, very large new Panamanian ships transporting liquefied natural gas, liquefied petroleum gas, crude oil, and refined oil products need to wait about 10 days before passing through the canal, the longest wait time since May. Due to restrictions on shipping in the Strait of Hormuz and the Strait of Mander, Asian oil, gas, fertilizer, and chemical traders are looking for alternative routes. In addition, insufficient rainfall due to Panama Canal lock maintenance and El Niño also further limited traffic capacity and increased ship waiting costs.

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