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Diana rolls panamax bulker into stronger Cargill fixture

Diana rolls panamax bulker into stronger Cargill fixture

New York-listed Greek bulker owner Diana Shipping has secured a 41% rate increase for the panamax Leto in a direct charter continuation with commodities giant Cargill. The 2010-built, 81,297 dwt vessel has been fixed at $18,000 per day, less a 4.75% commission, from September 10. The deal runs until at least September 1, 2027, with …

Editorial Desk

Panama Canal new capacity cuts put US ports on notice

Panama Canal new capacity cuts put US ports on notice

One of ocean shipping’s critical chokepoints just got a little tighter. The Panama Canal Authority in an advisory to shipping reduced daily vessel transits beginning in September and postponed previously announced draft increases for Neopanamax vessels. The measures reflect a deteriorating outlook linked to below-average rainfall and the prospect of a severe 2026–2027 El Niño weather event. The early warning indicates that the water supply in Lake Gatun supplying the canal’s lock system is again becoming a direct constraint on the reliability, cost and routing of cargo moving through U.S. East

Editorial Desk