Summary
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An unladen LPG carrier, G. Arete, paid $4.6m for a priority Panama Canal transit, beating the previous $4m record set by the 10,100-TEU Seaspan Benefactor. Canal waiting times have stretched to about 10 days, pushing operators to bid for slots rather than pay standard tariffs. With the Neopanamax draft also dropping to 48 feet from 26 August, all-water services to the US East Coast face higher costs and less reliable schedules.