ACP Publishes Toll Proposal

Wednesday, April 11, 2007
The Board of Directors of the Panama Canal Authority (ACP) has published its proposal to restructure the Panama Canal’s pricing system and certain regulations. On February 2, 2007, the ACP announced its desire to move toward a charge that accurately reflects the commercial value of the service and route. After a 30-day public consultation period, the ACP conducted a hearing on March 14. The proposal announced today has been slightly modified from the February proposal: At the request of the industry, implementation of the new charges, for certain segments, has been postponed from May 2007 to July 2007. These segments include: general cargo, dry bulk, tankers, and vehicle carriers. Due to this modification, the ACP today is reopening the issue for public comment and will consider additional input, suggestions and feedback from interested parties over the next 15 days.

After receiving comments and feedback from the maritime and shipping industry during its official consultation period, the ACP responded to industry requests by changing the proposal and postponing implementation of the new pricing. Moreover, with this proposal, the ACP is providing its customers with guaranteed pricing to 2009 – something no one else in the industry does. The ACP’s proposal to restructure its pricing system and certain regulations reflects an effort toward charging its customers the market price of the Canal’s service today.

As the world becomes more interconnected – barriers dropping, tariffs reduced – the value of the Panama Canal and its role in the global supply chain continues to grow. Shippers moving goods from the U.S. Gulf Coast to Asia can save up to 10 voyage days via the Panama Canal, and vessels traveling from the West Coast of South America to the U.S. East Coast shave an estimated eight to 16 voyage days compared to alternative routes. Given the cost increases in shipbuilding, fuel and vessel operations, the route through the Panama Canal has significantly increased its value to its users. After the ACP’s Board of Directors reviews the comments received during the 15-day period, it will make a final decision and submit its recommendation to the Cabinet Council of the Republic of Panama for approval.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Navy Awards Austal $691M for Two Littoral Combat Ships

The U.S. Navy has ordered two new littoral combat ships from Austal, the shipbuilder said in a press release today. The two orders, worth $691 million, are part

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1329 sec (8 req/sec)