The proposal, which modifies the pricing structure for dry bulkers, LNG and LPG vessels, will be implemented along with a customer loyalty program.
The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Panama Canal toll structure as recommended by the Panama Canal Authority (ACP) Board of Directors. The acceptance of the toll proposal comes after a year of informal consultations, comments and feedback from industry representatives as well as members of the general public.
Prices for traffic segments like dry bulkers, liquefied natural gas (LNG) ships and liquefied petroleum gas (LPG) vessels will now be based upon different units of measurement to “meet and align with the diverse traffic transiting the locks,” according to a statement from the waterway. Going forward, dry bulkers will priced based on deadweight tonnage capacity and metric tons of cargo, while LNG and LPG vessels will be priced based on cubic meters and metric tons of cargo and tankers will be measured using the Panama Canal universal measurement system.
Containerships will continue to be measured and priced on TEUs, and passenger vessels will continue to be based on berths. A new “Intra Maritime Cluster” segment was also created to include local tourism vessels, marine bunkering and container transshipment vessels that do not compete with international trade.
The toll adjustments will go into effect on April 1, 2016, with the exception of the Intra Maritime Cluster, which was effective immediately upon ratification of the proposal.
The new structure “will better facilitate the Canal’s goal of providing outstanding service and reliability to the global shipping and maritime community while allowing the ACP to safeguard the competitiveness of the waterway,” said the canal.
“After working in close cooperation with our partners in the maritime industry, I am pleased we will be able to provide a more bespoke pricing solution for our customers; one that recognizes their various needs and requests, while still appreciating the value and reliability provided by the route,” Panama Canal Administrator and CEO Jorge Quijano said in a statement.
In addition, the Panama Canal will also be implementing a customer loyalty program for container carriers. Frequent users of the canal will now receive premium prices once a particular TEU volume threshold is reached.
“The ACP deeply values the relationships we share with our customers,” Quijano added. “As we prepare for the completion of the Canal’s Expansion Program, we look forward to continuing to provide the same superior reliability, service and value to our customers, as well as now accommodate longer, wider ships and the new LNG segment.”
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal.
Panama approves new canal toll structure
