The Cabinet Council of the Government of the Panama has officially approved the modification of the Panama Canal tolls structure, following a recommendation from the Panama Canal Board of Directors.
The new structure enhances the Canal’s ability to provide competitive service and reliability for the global shipping and maritime community. The approved modifications include the tolls charged to Neopanamax Dry Bulk vessels carrying iron ore, Neopanamax Dry Bulk vessels transiting in ballast, the Vehicle Carrier/Roro Segment, and for the Liquid Bulk Segment (including Oil and Product Tankers, Chemical Tankers, LPG and LNG vessels).
The approved modifications also include adjustments made in response to topics discussed during meetings with customers and industry representatives held prior to the process, as well as feedback received during the formal consultation period.
Such adjustments include the exclusion of the proposed tolls modification for the passenger vessel segment, which will continue to be charged per the current tariff structure. Additionally, considerations were granted to postpone the implementation date for tolls applicable to certain segments until the months of April and May 2020.
Specifically, the final toll structure modifications include the following:
The proposed tolls modifications were officially announced on June 14, 2019. This initiated a formal 30-day consultation period concluded by a public hearing held on July 24, 2019 to ensure all interested parties could provide feedback for consideration.
Source: Maritime Shipping News