Panama Canal Expansion: Future Toll Structure Discussed

MarineLink.com
Wednesday, October 09, 2013
Photo courtesy of ACP

The Panama Canal Authority (ACP) Administrator Jorge L. Quijano has met with the Union of Greek Shipowners, the International Association of Independent Tanker Owners (INTERTANKO) and the International Association of Dry Cargo Shipowners (INTERCARGO) to discuss the waterway's toll structure when the expanded Canal opens to commercial transits.

The Expansion Program will build a new lane of traffic along the waterway through the construction of a new set of locks, which will allow the transit of vessels with more tonnage capacity.  Currently, the Expansion Program is 64.6% complete.

“The dry and liquid bulk carrier segments are an important part of our core business,” Quijano said. “It is important for us to get direct face-to-face feedback from the industry representatives to ensure that our tolls and services remain competitive and are properly structured to reflect the commercial value of our route.”

A total of 14 percent of vessels that transit the Panama Canal are Greek-owned. Liquid and dry bulk carriers are two important segments for the Panama Canal, representing approximately 16 percent and 23 percent, respectively, of the total tonnage transiting through the waterway.

For the liquid bulk segment, the main commodity is diesel and gasoline exports from the Gulf of Mexico to Asia and South America. Grains remain the top commodity transported in bulk carriers through the Panama Canal from the United States and South America to Asia.

During the meetings, ACP presented the results of the feedback received regarding toll structure during previous meetings with these associations. Canal officials had the opportunity to present a progress update of the Expansion Program and the requirements for the New Panamax vessels to transit the new lane once it is completed.

The Panama Canal also presented the new business initiatives that are currently under analysis to add value to route for its customers. Such developments include a port on the Pacific side, logistics parks, top-off operations for dry bulk carriers and bunkering stations to take advantage of the new liquefied natural gas (LNG) segment that will be able to transit through the Canal.

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Hoegh Sees Tough Market until 2016-2017

Oslo-listed liquefied natural gas (LNG) shipper Hoegh LNG reported third-quarter earnings below expectations on Wednesday and said its market could remain challenging

Woodside to Pick up Moroccan Acreage

Woodside advises that it has entered into a contract for an exclusive Reconnaissance Licence (RL) with the Office National des Hydrocarbures et des Mines, the

Finance

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Matson Raises 2015 Westbound Hawaii Box Rates

Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225

Hoegh Sees Tough Market until 2016-2017

Oslo-listed liquefied natural gas (LNG) shipper Hoegh LNG reported third-quarter earnings below expectations on Wednesday and said its market could remain challenging

News

Stena Bulk Joins World Ocean Council

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime

CMA CGM Acquires OPDR

The CMA CGM Group has acquired the German shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG (OPDR), CMA CGM founder, chairman and CEO Jacques R.

Sunken WWII Landing Craft Refloated

LCT 7074, the last known landing craft to survive the D-Day invasion in 1944, has been refloated as part of a project to lift and save the vessel which began in March 2014,

Logistics

CMA CGM Acquires OPDR

The CMA CGM Group has acquired the German shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG (OPDR), CMA CGM founder, chairman and CEO Jacques R.

Matson Raises 2015 Westbound Hawaii Box Rates

Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225

Melbourne Box Pot Lining Up Bidders

Three of Australia's largest infrastructure funds plan to bid for the country's largest container terminal in a sale expected to fetch about A$5 billion ($4.27 billion) for Victoria state,

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.6491 sec (2 req/sec)