EUROPE/SOUTH AMERICA CARRIERS INTRODUCE PANAMA CANAL SURCHARGE
Shipping lines of the European/South Pacific and Magellan Conference, which covers the Europe/West Coast of South America trade, are introducing a Panama Canal Surcharge.
The surcharge will amount to 15 euro or $15 per TEU, depending on whether the shipment’s freight rate is denominated in euro or in dollars.
The conference said that the new surcharge reflects the 8-percent increase in Panama Canal tolls implemented by the Panama Canal Authority on Oct. 1.