Panama Canal: Differential Rates

With the new tariff scheme the Panama Canal Authority intends to exploit economies of scale by encouraging the passage of vessels at maximum capacity with lower rates.

Monday, March 9, 2015

The proposal by the Panama Canal Authority (ACP by its initials in Spanish), indicates in short, that larger capacity vessels would agree to transit the neopanamax locks in order to access best rates and take advantage of economies of scale. On the other hand, "... If a customer wants to transport a number of TEUs that can pass through the panamax locks, it will be more convenient for them to go through the current Canal."

Authorities from the ACP indicated to that "... This pricing structure is more balanced and promotes continued good use of the panamax locks, even when the neopanamax locks come into service. In the new toll structure there is a loyalty program that reduces the cost of transit depending on the total amouunt of cargo transported. "

See here the details of the proposal.

More on this topic

Transit through the Expanded Panama Canal

August 2016

There has been an increases in traffic of neopanamax ships, which now produce revenues of $68 million, as well as extra maritime services that used to go through the Suez Canal.

An article on reports that "...  During the first two months of operation of the expanded Canal 130 neopanamax ships were reported to have passed through, most of them container ships, bringing in total revenues of $68 million.  Since the expanded Canal opened on June 26, business has been growing, with 2 new services coming from the Suez Canal, said the Canal Administrator Jorge Luis Quijano."

New Rates for Panama Canal

April 2015

The new Panama Canal toll structure will come into effect on April 1, 2016, except for the new segment of Internal Maritime Cluster which is already in effect.

From a statement issued by the Maritime Authority of Panama:

PANAMA CITY, Panama, April 29, 2015 - The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.

Panama Canal: Shipping Companies Ask for Differentiated Tariffs

March 2015

Presenting it as a way of promoting the expanded Canal, shipowners have asked the Canal Authority to charge different rates depending on the type of cargo being shipped.

Among the comments submitted by four companies highlights the establishment of special rates to stimulate the shipping market, such as for vessels that require some kind of repair and other fees for ships carrying liquefied gas.

Worldwide Concern Over Canal Expansion Conflict

January 2014

The threat of paralyzing the work of the third set of locks of the Panama Canal is keeping maritime and port operators around the world on tenterhooks.

The conflict between the construction consortium (GUPC) headed by the Spanish Sacyr and the Panama Canal Authority (ACP), which originated over the demand for the first payment of $1.6 billion in cost overruns and the ACP's rejection of that claim, threatens to extend the opening of the expanded waterway, through which 5% of the world's maritime cargo passes, to beyond 2015.