Panama Canal engages in public consultation on new toll structure

Mar.5--THE Panama Canal Authority (ACP) recently held a public hearing on its proposal for a new toll structure announced in January that is expected to come into effect in April next year.

"We want to ensure that the new toll structure is informed by all interested parties and that once approved, it is reflective of the canal's value," said ACP administrator Jorge Quijano.

The new structure will apply to the existing canal, as well as to the new lane of traffic when the expansion begins operation in 2016.

Comments made during the hearing, as well as those shared with the ACP in writing, will be analysed and taken into consideration before submitting a final proposal for approval by the canal board of directors and the cabinet council, a company statement said.

The last toll modification was made in 2012-2013 for dry bulk vessels, tankers, chemical carriers, gas carriers, vehicle carrier/roll-on/roll-off, general cargo and other vessel types segments. Container, reefer and passenger tolls have remained unchanged since 2011.

The proposed restructuring calls for each segment to be priced based upon different units of measurement, while aligning with customers' needs and requests, and modifying pricing for all canal segments.

For instance, containers will be measured and priced on TEU, dry bulkers will be based on deadweight tonnage capacity and metric tonnes of cargo, LNG will be based on cubic metres and tankers will be measured and priced on Panama Canal tons and metric tonnes.