Canal Proposes New Containership Pricing System

Tuesday, December 07, 2004
After nine months of informal consultations with its customers and the maritime industry, the Panama Canal Authority (ACP) today announced a formal proposal to update their current vessel measurement and pricing system for full container vessels and other vessel types with on-deck container capacity. The ACP’s proposal would change the system that the Canal currently uses for the container segment – from the Panama Canal Universal Measurement System (PC/UMS) to the industry standard of the Twenty-Foot Equivalent Unit (TEU).

The updated measurements and pricing system will bring the ACP’s system on par with international standards of the container industry, provide a more accurate measurement, offer more transparency to Canal users and their customers and enable the ACP to receive a fair value for its product.

On November 23, 2004 the ACP Board of Directors gave authorization to proceed with the formal proposal announced today. If approved, the new system will be implemented on a graduated basis over the course of three years, beginning in the second quarter of 2005.

The ACP conducted informal consultations with Canal customers and representatives of the World Shipping Council and the International Chamber of Shipping. The ACP has also made every effort to incorporate inputs from these representatives into the new proposal.

Formal consultation on the proposal begins today and will continue until January 6, 2005.

The ACP will consider additional inputs and feedback from interested parties. The ACP welcomes data, opinions, written statements (in English or Spanish) before the above deadline. In addition, a public hearing will be conducted on January 7, 2005 in the “Ascanio Arosemena” auditorium, Balboa, Republic of Panama at 9:00 a.m. EST. For more information or to obtain an electronic copy of the proposal, please visit:

The main elements of the proposal are as follows:

· For Full container vessels: The new measurement system will be updated to reflect international standards for a container – the twenty-foot equivalent unit (TEU), measuring 20’x 8’x 8.5’ in size. These vessels will be charged based on their capacity to carry TEU containers, replacing the current Panama Canal/Universal Measurement System (PC/UMS) tonnage. The new TEU container carrying capacity of the vessels will take into account the visibility limitation imposed by the Panama Canal.

· Other Vessels with on-deck container carrying capacity: Vessels other than full container ships that have on-deck container carrying capacity will continue to use PC/UMS tonnage to measure enclosed spaces and spaces below deck. The transit charge of these vessels will be the ship’s current PC/UMS volume charge plus the actual TEU containers transported on-deck on each transit.

The proposed pricing plan will be implemented as follows:

PRICE/TEU IMPLEMENTATION DATE $42 May 1, 2005 $49 January 1, 2006 $54 January 1, 2007

Maritime Today

The Maritime Industry's original and most viewed E-News Service

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


Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

Raytheon Anschütz Succeeds in SYNTACS SAT

Raytheon Anschütz, a leading integrator of naval integrated bridge systems, has successfully completed the Sea Acceptance Test (SAT) for the Synapsis Tactical Command

Escort Tug Launched for Bay-Houston Towing

Eastern Shipbuilding Group, Inc. announced the launch of the Escort Tug H. DOUGLAS M (Hull 236) for Bay-Houston Towing Company on November 17, 2015. This series of Robert Allan, LTD.


S&P Raises Steamship Mutual outlook to Positive

Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. In their announcement Standard

Norwegian Escape with Biggest Scrubbers sets Sail

On a sunny October day in the German harbor-town of Hamburg, M/V Norwegian Escape, a brand new cruise ship, sets sail for the first time. On board are five Yara SOx scrubbers – one for each engine.

ZIM Integrated Shipping Remains Profitable

Despite challenging market environment with freight rates reaching historic lows in several key trades,  ZIM Integrated Shipping Services continues to outperform

Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.0910 sec (11 req/sec)