The Seaspan-Benefactor: Crew Feedback and Vessel Data

On July 1st, 2023, the MOL Benefactor, a container ship registered under the Hong Kong flag, made maritime history by paying an unprecedented transit fee of $829,468 at the Panama Canal. This landmark fee marks the highest amount ever charged in the canal’s 102-year history. Previously, the record was held by Cosco Shipping Panama, which paid $575,545 as the inaugural vessel to navigate the newly expanded canal just days before on June 26. The MOL Benefactor, managed by Seaspan, boasts a capacity of 10,000 TEU and measures 337 meters in length and 48 meters in width. With the expanded canal now accommodating container ships of up to 12,000 TEU, experts predict that transit fees could soon reach the $1 million mark. This fee structure is part of efforts by Panamanian authorities to recover the $5.25 billion invested in widening the canal over the last decade, ensuring its status as a critical trade route in global shipping.

On March 24, Seaspan Corporation proudly announced the arrival of its latest addition to the fleet, the MOL Benefactor, a state-of-the-art 10,000 TEU containership. This impressive vessel was built by Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. and marks Seaspan's ninth 10,000 TEU containership designed to enhance operational efficiency via the innovative SAVER design. Notably, the MOL Benefactor represents the company's first delivery of 2016 and is the 18th vessel of its kind crafted with the fuel-efficient SAVER design at Yangzijiang. In line with its operational strategy, the MOL Benefactor will embark on an eight-year, fixed-rate time charter with Mitsui O.S.K. Lines Ltd. (MOL), completing the chartering of five 10,000 TEU SAVER design vessels to MOL, underscoring a robust partnership in maritime trade.