Canal tolls approved by Cabinet

The new Panama Canal tariffs were approved in the Cabinet and now only waits to be published in the Official Gazette, it was confirmed by Panama Canal administrator Jorge Quijano.

Quijano said that after an in-depth analysis of the comments received from users and discussion with the Board, an adjustment was only made on the return days for the proposal of the container ships, increasing it from 25 to 28 days.

The new Panama Canal tariff were approved.

The new Panama Canal tariff were approved.

The original proposal for the container segment offered more attractive rates for containers loaded on the return voyage, but only for those Neopanamax vessels that complied with the Canal route on round trips when: 1) the utilization rate is equal to or greater than 70% on the northern transit (towards the Atlantic) and 2) the time between north and south transit is not more than 25 days, a figure that will now be 28.

Likewise, the tolls of LPG and LNG ships are modified, without altering the units of measurement, as they have been found to comply with industry standards.

In addition, this proposal reallocates vessels classified by the ACP as container vessels/bulk loose cargo to the “general cargo” segment. At present, these vessels are part of the “other” segment.

Meanwhile, representatives of Japanese companies requested that the proposal be revised for gas vessels, as it could generate negative effects on world energy. Quijano said they expect more of these types of ships in 2018, due to increased exports from US Gulf plants.

The implementation of these changes in tolls is scheduled from October 1.

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