A breathholding contest where one participant dives down with empty lungs? Does not sound very fair, that's for sure. However it surely is the only way to be Pela, the penguin lady. Even her feral relatives can easily beat dolphins and otters after all: https://www.nzgeo.com/stories/how-long-can-penguins-hol.... Still she naturally has to rely on the air in her respectable lungs for that. Now she looks in quite some trouble.
Of course her friends and contestants thought of a safety measure: An airtank that is attached to their raft's anchor. However they might not have thought of the fact that regular mouthpieces are not suited for an avians beak...