News ID: 75506 |
Publish Date: 15:40 - 09 August 2017

New Panama Canal Tolls Approved

The Panama government has approved new tolls structure for the Panama Canal, with more attractive rates to lure large containerships on back-haul voyages.

New Panama Canal Tolls Approved
According to MANA, The approval of the country's Cabinet Council followed the recommendation of the Panama Canal Authority (ACP), which collected feedback from 12 representatives of associations, shipping lines and shippers after proposing the change of the current tolls in June.
The new tolls, effective from October 1 2017, offer more favourable rates per loaded container for neopanamax boxships on the southbound, back-haul transit through the canal.
The modified rates are applicable when a boxship is loaded to at least 70% of its allowed capacity, not including empty containers, and the time between the northbound and southbound transits is no greater than 28 days. The allowed time between transits was raised from 25 days in the initial proposal after consultation with the industry.
The proposed changes also modify the tolls charged to liquefied petroleum gas carriers and liquefied natural gas carriers, which will result in an increase in transit costs for both types of ship.
Lastly, container and breakbulk carriers, which currently fall into the ‘other’ market segment, will be reclassified into the general cargo segment, leading to more attractive tariffs for customers in this sector.
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