Panama City, Panama, July 24, 2019 – The Panama Canal held a public hearing today on its tolls structure modifications proposal, marking the culmination of the formal consultation period for industry feedback.
“The public hearing is an invaluable part of the process,” said Panama Canal Administrator Jorge L. Quijano. “We appreciate the input we received today from the maritime community and will ensure all is carefully considered for the new tolls structure.”
After a careful evaluation and analysis of the comments received, and once all pertinent considerations are incorporated into the structure, the Panama Canal Board of Directors will approve the final proposal to be presented to the Cabinet Council of the Republic of Panama, who will officially approve the modifications. The proposed date for implementation of the modifications to the tolls structure is January 1, 2020.
First announced on June 14, 2019, the proposed modifications are designed to increase transparency and flexibility, to ensure the waterway remains competitive and optimal for the industry today and moving forward.
Specifically, the proposed tolls modifications include the following:
Dry bulk segment: Matches tolls charged to Neopanamax vessels carrying iron ore with the tolls assessed for grains and “other dry bulk” cargoes. Includes a tariff adjustment for Neopanamax dry bulkers transiting in ballast.
Passenger segment: The modifications add transparency to the tolls structure of the passenger segment by charging based on the maximum passenger capacity that can be carried by each specific passenger vessel. The unit of measurement is changing from a “per berth” to a “per passenger” basis, making it easier for cruise lines to transfer transit costs to their customers.
Containership segment: Offers more attractive incentives for customers who benefit from the Panama Canal Loyalty Program by adding new levels with rates in the capacity charge for shipping lines deploying between 2,000,001 to 3,000,000 TEU, and additional reductions for lines deploying an incremental over 3,000,000 TEU.
Vehicle carrier and RoRo segment: Creates a new tariff category precisely designed for Neopanamax vessels. Additional modifications for this segment include slight changes in tolls tariffs for Panamax-sized vessels, as well as minor adjustments based on vessel size ranges.
Tankers, chemical tankers, LPG and LNG vessels: Toll structures remain unchanged, but tolls adjustments are proposed to more closely align with the value of the route.
Small vessels and local tourism: Revised to consider the resources used in the transit and the complexity of accommodating these vessels within the locks’ chambers.
Containers on deck: Reviews the rates charged to non-container vessels carrying containers on deck, to apply a TEU differentiated charges for TEU that are empty, loaded dry and loaded refrigerated.
For more details, please refer to the following website: http://www.pancanal.com/peajes/.
About the Panama Canal Authority (ACP)
The Panama Canal Authority (ACP) is an autonomous legal entity of the Republic of Panama in charge of the operation, administration, management, preservation, maintenance, and modernization of the Panama Canal, as well as its activities and related services, so that the Canal may operate in a safe, continuous, efficient manner. For more information, please refer to the ACP’s website: http://www.pancanal.com or follow us on Twitter @thepanamacanal.