Authorities in Panama have approved a new toll structure for the canal (source: Autoridad del Canal del Panama)
The Cabinet Council of the Republic of Panama has approved the toll structure for the Panama Canal which will be applied from January 2023
The recommendation was made by the Panama Canal board of directors following a formal consultation and public hearing process that considered industry feedback.
In April, the Panama Canal proposed major changes to its toll structure to streamline tariffs and cull the number of fees from 430 to fewer than 60.
The tolls proposal was issued 1 April 2022 and went through a formal consultation period during which 17 interested parties submitted comments or opinions in writing. The public hearing was held in Panama 20 May with the participation of seven parties representing local and international customers.
Canal Administrator Ricaurte Vásquez Morales said, “The proposal aims to strengthen the tolls structure in a way that is consistent with the value provided by the Canal transit service while providing greater visibility and predictability to customers.”
Following discussions with stakeholders, the following changes have been made to the original proposal:
All other tariffs will be implemented gradually from January 2023 to January 2025 at the originally proposed levels, including the proposed modifications to the loyalty programme for container ships, which will be phased out by January 2025. Incentives for return voyages applicable to container ships and LNG vessels will be eliminated by January 2023 when the new structure comes into effect.
The visibility charge currently applied to full container vessels, and classified as other marine services, will be eliminated prior to the implementation of the new tolls to avoid an overlap with the total TEU capacity charge.
