{"id":7435,"date":"2004-12-07T06:02:33","date_gmt":"2004-12-07T06:02:33","guid":{"rendered":"https:\/\/pancanal.com\/en\/?p=7435"},"modified":"2021-09-11T05:21:56","modified_gmt":"2021-09-11T05:21:56","slug":"panama-canal-authority-proposes-updated-measurement-and-pricing-system","status":"publish","type":"post","link":"https:\/\/pancanal.com\/en\/panama-canal-authority-proposes-updated-measurement-and-pricing-system\/","title":{"rendered":"Panama Canal Authority Proposes Updated Measurement and Pricing System for Full Container Ships and Other Vessels with On-Deck Container Carrying Capacity"},"content":{"rendered":"

PUBLIC HEARINGS SLATED FOR JANUARY 7, 2005<\/em><\/p>\n

PANAMA CITY, Panama, December 7, 2004\u00a0<\/strong>\u2013 After nine months of informal consultations with its customers and the maritime industry, the Panama Canal Authority (ACP) today announced a formal proposal to update their current vessel measurement and pricing system for full container vessels and other vessel types with on-deck container capacity. The ACP\u2019s proposal would change the system that the Canal currently uses for the container segment \u2013 from the Panama Canal Universal Measurement System (PC\/UMS) to the industry standard of the Twenty-Foot Equivalent Unit (TEU).<\/p>\n

The updated measurements and pricing system will bring the ACP\u2019s system on par with international standards of the container industry, provide a more accurate measurement, offer more transparency to Canal users and their customers and enable the ACP to receive a fair value for its product.<\/p>\n

On November 23, 2004 the ACP Board of Directors gave authorization to proceed with the formal proposal announced today. If approved, the new system will be implemented on a graduated basis over the course of three years, beginning in the second quarter of 2005.<\/p>\n

The ACP conducted informal consultations with Canal customers and representatives of the World Shipping Council and the International Chamber of Shipping. The ACP has also made every effort to incorporate inputs from these representatives into the new proposal.<\/p>\n

Formal consultation on the proposal begins today and will continue until January 6, 2005.<\/p>\n

The ACP will consider additional inputs and feedback from interested parties. The ACP welcomes data, opinions, written statements (in English or Spanish) before the above deadline. In addition, a public hearing will be conducted on January 7, 2005 in the \u201cAscanio Arosemena\u201d auditorium, Balboa, Republic of Panama at 9:00 a.m. EST. For more information or to obtain an electronic copy of the proposal, please visit:\u00a0www.pancanal.com<\/a>.<\/p>\n

The main elements of the proposal are as follows:<\/p>\n