A ship just paid $5.3 million at auction to skip the Panama Canal queue. Before the Iran war, what did a winning bid cost?

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Before the Strait of Hormuz closed to most traffic, a Panama Canal queue-jump slot sold for about $135,000. Drought has since dropped Gatun Lake and cut how many ships can pass, right as energy cargoes rerouted from the Gulf came looking for a shortcut. A single ship just paid $5.3 million to move up the line.

Ships bid at auction to jump the Panama Canal queue. That used to cost about $135,000. One just paid $5.3 million.

Source: Splash247 / Argus Media / gCaptain · checked Aug 2026