New Tolls Structure at Panama Canal

By Joseph R. Fonseca
Friday, August 01, 2014
Panama Canal

The Panama Canal Authority has advised that a new tolls structure will be introduced when the expanded Canal opens.

The proposal the Authority plans to present in the coming months provides a structure that is competitive, attractive and customised to reflect advantages to clients by ship type, vessel size, utilisation level (referring to actual cargo aboard during transit), laden/ballast transits, completely or partially full transits, among other factors.

The Panama Canal Authority is currently reviewing the tolls proposal, which would include the new locks. Details are not yet available, but the Canal's pricing policy states:
- Tolls will be established to reflect the value provided by the Canal to users;
- Tolls will be set so that their relative value is maintained over time and will be periodically adjusted to consider inflation;
- Tolls will be established at appropriate levels to maintain the competitiveness of the Panama Canal route at all times.

Once a firm position has been approved, any questions submitted should include the above information so that the matter could be properly addressed.

If a change in tolls is proposed, there will be an announcement and the formal proposal will be in writing. Post announcement there is a legally mandated consultation process. Consultation extends for a minimum of 30 days and includes the reception of written comments and a public hearing. In this process, customers are given a period of time to review the proposal and present their comments. Customers' comments and suggestions are carefully considered, and, where appropriate and possible, the comments and suggestions can result in some form of adjustments.

The expected date for completion of the Canal expansion project is December 2015, with the opening of the new locks during the first quarter of 2016.

For more detials contact GAC-Wilford & McKay at gac-wilfordmckay.panama@gac.com

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

News

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Pentair Opens Aquaculture Center of Excellence

Mindful that fish farming has the potential to help meet an expanding  population's need for protein in a world with increasing water constraints, Pentair announced

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Logistics

Kintetsu World Express Acquires NOL's APL Logistics Shares

Neptune Orient Lines Limited (“NOL”) is pleased to announce that it has today completed the sale of its logistics business, APL Logistics Ltd (“APLL”), to Kintetsu World Express, Inc.

Hiab to Launch the New Z-series Crane

Hiab launched the HIAB Z-HiPro 191 and HIAB Z-PRO 171 crane. Part of the new HIAB Z-series, the cranes feature the ability to be folded into a Z position and

EXG Wins CII SCALE Award

Express Global Logistics Pvt Ltd (EXG) won the Supply Chain and Logistics Excellence (SCALE) Award 2015 organized by CII (Confederation of Indian Industry).

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair 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: 0.1453 sec (7 req/sec)