The ACP receives comments, suggestions and recommendations from 46 Canal customers today; interested parties express opinion that Canal is safer and more efficient but feel that toll increase is too high and ill timed<\/i><\/p>\n
Panama City, Panama –\u00a0<\/b>The Panama Canal Authority (ACP) held a public hearing today giving Canal customers and other interested parties the opportunity to comment on the modified pricing structure proposed by the ACP in early June of this year. Nearly fifty interested persons presented comments today, with many expressing their appreciation for the recent improvements in safety and efficiency of Canal operations, but also saying that the percentage increase is too high and poorly timed.<\/p>\n
Subsequent to today\u2019s hearing, the ACP will study the comments, as it considers the proposed changes in rates and pricing structure. If approved, the new pricing structure is anticipated to go into effect in October, 2002.<\/p>\n
Today\u2019s hearing was a significant step in the consultation process initiated by the ACP several weeks ago. Forty-six participants – composed of representatives from shipping companies, associations, governments and private citizens – participated today. The ACP will now assess all suggestions and make a final recommendation for approval by the Canal Board of Directors and Panama\u2019s Cabinet Council.<\/p>\n
\u201cToday is a great day for the Canal, Panama and the democratic process. Clearly some of our customers have concerns but they also recognize the excellent job we have done to make transits through the Canal safer and faster. Changing our pricing structure will provide a strong foundation for future Canal improvements, and guarantee fast, safe and efficient transit. Now more than ever, the ACP is going to provide our customers with what they need,\u201d said ACP Administrator Alberto Alem\u00e1n Zubieta.<\/p>\n
The Proposed New Pricing Structure<\/b><\/p>\n
In June of this year, the ACP formally proposed changes to the waterway\u2019s pricing structure. Designed to provide better and more efficient service to its customers, the ACP is transforming the business model of the Canal towards a market-oriented business system – one that takes into consideration the value of the Canal route.<\/p>\n
\u201cAs the growth of world trade continues, the shipping industry has evolved significantly and the Canal\u2019s pricing structure, which has remained unchanged for 90 years, must adapt to meet the growing demands of a dynamic market place,\u201d said Administrator Alem\u00e1n Zubieta.<\/p>\n
\u201cThis historic shift in the ACP\u2019s business model is the first step toward changing the long-standing one-size-fits-all pricing structure and replacing it with a system that is more tailored to the individual needs of our clients,\u201d the Administrator continued. \u201cA change in the pricing structure to a market-oriented system is needed to better serve the evolving needs of Canal customers.\u201d<\/p>\n
Under the new pricing structure, average Canal tolls will increase by 13 percent, with a per wire fee for the use of locomotives.<\/p>\n
\u201cThe Panama Canal is still the best deal in the world for customers we serve,\u201d said Alem\u00e1n Zubieta. \u201cThis price change is reasonable and fair for all and will have minimal impact on trade and our users. The increase amounts to less than two percent of the total transportation costs for goods transported through the Canal.\u201d<\/p>\n
Under the proposal:<\/p>\n
The Panama Canal Authority is the autonomous agency of the Government of Panama in charge of managing, operating, and maintaining the Panama Canal.<\/p>\n","protected":false},"excerpt":{"rendered":"