First Woman to Lead Panama Canal Named as Waterway Faces Rising Global Pressure
Photo: Panama Canal Authority
First Woman to Lead Panama Canal Named as Waterway Faces Rising Global Pressure
Mike Schuler
Total Views: 0
May 21, 2026
Panama President José Raúl Mulino announced Thursday that Ilya Espino de Marotta has been selected as the next administrator of the Panama Canal, making her the first woman to lead one of the world’s most strategically important shipping chokepoints.
Espino de Marotta will replace Ricaurte Vásquez, who has led the canal since 2020 through a period marked by historic drought disruptions, surging geopolitical trade tensions, and major shifts in global shipping patterns.
In a statement posted on X, Panama’s Minister for Canal Affairs José Ramón Icaza said the Board of Directors began planning the succession process last year with support from an internationally recognized consulting firm.
“The search for Panamanian professionals covered both the national and international spheres… and identified more than 100 outstanding profiles,” Icaza sa
Xeneta Weekly Ocean Container Shipping Market Update: Average Spot Rates Remain Elevated
Xeneta Weekly Ocean Container Shipping Market Update: Average Spot Rates Remain Elevated
in
International Shipping News
16/05/2026
The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.
Xeneta analyst insight
Peter Sand, Xeneta Chief Analyst:
Elevated Transpacific ocean freight rates plateau:
“Volatility in global ocean container supply chains means it is not often both shippers and carriers are ‘happy’ with the price they are buying and selling freight, but that is seemingly the case on Transpacific trades as average spot rates plateau at elevated levels amid ongoing conflict in the Middle East.
“Average spot rates from Far East to US West Coast remain up more than 50% compared to pre-conflict at the end of February, but have remained effectively flat over the past month.
“One factor behind the short term market p
Hidden cost of spiralling non-tariff measures
Hidden cost of spiralling non-tariff measures
in
International Shipping News
16/05/2026
W
hile the world’s attention is today fixed on the return of protectionist duties, a more surreptitious and costly shift is undermining the global trade landscape. According to the latest Global Trade Update from UN Trade and Development (UNCTAD), friction in modern trade is no longer found solely at customs desk but within complex and often opaque non-tariff measures (NTMs).
The update – Invisible Barriers: The Costs of Non-Tariff Measures, sees a new regime of “interventionism” replacing trade liberalisation. This has been driven by the lingering shocks of the COVID19 pandemic, the war in Ukraine, and the 2025 US tariff hikes.
Shipping Market Outlook: Q2 2026
Shipping Market Outlook: Q2 2026
in
International Shipping News
16/05/2026
T
he global shipping market is navigating Q2 2026 under the ongoing weight of an unprecedented geopolitical shock. The de facto closure of the Strait of Hormuz, now entering its third month, has fundamentally reshaped trade flows and earnings dynamics across all sectors. With no credible resolution in sight and the US military reported to be blocking vessels exiting the Strait, market uncertainty shows no signs of easing.
Tanker earnings reaching record levels in Q1 2026, with Aframax values hitting all-time highs in May.
Tanker Market: Rates Remained Elevated in April
Tanker Market: Rates Remained Elevated in April
in
Hellenic Shipping News
16/05/2026
T
anker rates remained elevated during the month of April, but mostly lower from their earlier record highs, OPEC, said in its latest monthly report.
In April, trade disruptions continued to impact dirty tanker spot freight rates. While price assessments on routes out of the Middle East remained elevated amid limited activities and a high degree of uncertainty, VLCC spot freight rates elsewhere declined from the record highs seen the month before. On the West Africa-to-East route, VLCC spot freight rates were down 26%, m-o-m, but were still 129% higher than the same month last year.
Drewry: World Container Index Up 12% Last Week
Drewry: World Container Index Up 12% Last Week
in
International Shipping News
16/05/2026
For many years, World Container Index (WCI) has been the go-to, independent, global reference for index-linked contracts. If your organisation is considering index-linked contracts or requires regional visibility/coverage beyond the eight trade lanes provided below, contact our ocean freight cost benchmarking team.
Double-digit spot rate increases driven by early peak season and carrier surcharges.
Source: Drewry World Container Index, Drewry Supply Chain Advisors
Our detailed assessment for Thursday, 14 May 2026
The Drewry World Container Index (WCI) surged 12% to $2,553 per 40ft container, due to higher freight rates on Transpacific and Asia–Europe trade routes.
On the Transpacific trade route, rates surged this week due to the implementation of Emergency Fuel Surcharges (EFS) and Peak Season Surcharges (PSS) by carriers. Freight rates from Shanghai to New York increased 14% to $4,252 per 40ft co
Education is the key to advancing gender equality in shipping
Education is the key to advancing gender equality in shipping
in
International Shipping News
16/05/2026
The World Maritime University’s (WMU) Professor Momoko Kitada and WISTA’s Elpi Petraki identify education as the heart of the matter for empowering women across the maritime industries
For the first time, the cohort for WMU’s MSc programme in Malmö reached gender parity in the Class of 2026. It is a major milestone for industry diversity and inclusion, but it is also just a start, say experts involved in training and mentoring women as the IMO celebrates the 2026 International Day for Women in Maritime on 18 May.
Education is key to addressing challenges and ways forward according to former seafarer Professor Momoko Kitada, WMU Academic Dean, Head of Maritime Education and Training (MET) and Nippon Foundation Professorial Chair, and Elpi Petraki, WISTA International President who is also Chartering, Operations and Business Development Manager at Greek shipowner ENEA Management.
Educa
Energy trade flows are rerouted as the Strait of Hormuz remains mostly closed
Energy trade flows are rerouted as the Strait of Hormuz remains mostly closed
in
International Shipping News
16/05/2026
No country has ever profited from protracted warfare,” the great Chinese military theorist known as Sun Tzu wrote around the 5th century BCE. It is a warning that may resonate in Washington today.
By today’s standards, the latest conflict in the Middle East has not been going on for a particularly long time. But it has already outlasted President Donald Trump’s suggestion in the early days of the campaign that it was intended to take four to five weeks.
The ceasefire that was agreed on 8 April has officially continued, although punctuated by sporadic attacks on shipping and land installations from both sides.
UK assets markets starting to feel the heat
UK assets markets starting to feel the heat
in
Stock News
16/05/2026
UK markets were under pressure on Friday as the leadership battle within the ruling Labour Party starts to open up.
To recap, this week’s turmoil follows a very weak, but not totally unsurprising, set of local election results for Labour earlier this month. With Nigel Farage’s Reform Party dominating the polls, and the Green Party increasingly dividing Labour’s share of the vote, there’s growing pressure on the party to change direction as it looks ahead to the next General Election in three years’ time.
So far, formally at least, no leadership contest has been triggered. Keir Starmer remains both Labour leader and prime minister.
Long Beach Cargo Drops as Hormuz Crisis Keeps Pressure on Supply Chains
Photo courtesy Port of Long Beach
Long Beach Cargo Drops as Hormuz Crisis Keeps Pressure on Supply Chains
Mike Schuler
Total Views: 0
May 15, 2026
The
Port of Long Beach
posted another year-over-year decline in cargo volumes in April as global market volatility, rising fuel costs and supply chain uncertainty continue to pressure international trade flows.
Longshore workers and terminal operators moved 817,992 twenty-foot equivalent units (TEUs) during the month, down 5.7% from April 2025, which marked the busiest April on record for the port.
Despite the decline, volumes remained historically strong as one of the nation’s leading trade gateways continues to navigate a volatile trade environment shaped by geopolitical tensions, shifting trade patterns and higher transportation costs.
“In our industry, the only certainty is uncertainty,” Port of Long Beach CEO Dr. Noel Hacegaba said in a statement released Thursday. “With recent supply chain disruptions adding volatility and instability