NEWS – DELAY IN TOLL INCREASES

Posted 30 June 2012

The Board of Directors of the Panama Canal Authority (ACP) announced on Friday that it has published a revised tolls proposal that defers the implementation date of new Canal tolls to October 2012 and October 2013.

The ACP announced in April (see report below) its intention to adjust tolls, however, following a 30-day public consultation period and hearing, the April proposal has been slightly modified.

Following final confirmation when passed by the Assembly, the new Tariff for small crafts (including yachts) will be effective October 1st 2012.

The security fee for small vessels (under 3000 tons) will increase to USD 130.00 per vessel as of July 1st 2012.

http://www.pancanal.com

Read a more detailed article at the Panama Guide

PANAMA CANAL AUTHORITY ANNOUNCES TOLL INCREASES

Posted 24 April 2012

Proposed Toll Increase for Small Vessels (Minimum Tolls)

CAT = Current Average Toll, PR = Proposed Rate

Less than 15.24m / 50 feet – CAT $500 / PR $800

15.24-24.384m / 50-80 feet – CAT $750 / PR $1,300

24.384-30.480m / 80-100 feet – CAT $1,000 / PR $2,000

More than 30.480m / 100 feet – CAT $1,500 / PR $3,200

Our thanks to Karsten Staffeldt for passing on these rates.

The following report was taken from the Panama Guide – the full article can be read at www.panama-guide.com

The board of the Panama Canal Authority (ACP) has approved the following toll increases: for seven types of large ships, an increase of 15% over two years; for small vessels, an increase of between 60-113% as of 1 July 2012.

For smaller vessels, which have suffered fee increases since 1998, the proposed increases are in four price levels based on the length (L) of the vessel, ranging between 60% and 113%. This means tolls would increase from $500 to $800 for smaller boats (less than 15.24 meters) and from $1,500 to $3,200 for the largest boats (more than 30.48 meters).

Furthermore, the rate per ton of displacement, now $3.02, will also increase 15.5% to $3.25 as of 1 July, and to $3.49 in the same month next year.

The ACP administrator Alberto Aleman commented that the proposal brings the tolls closer to the value and quality advantages offered by the route through the Panama Canal while maintaining the competitiveness of the route. “The ACP reaffirms its interest in maintaining a dialogue with the industry to enable us to structure a system of tolls according to the needs of our users which results in benefits for themselves and for Panama,” Aleman said.

According to the statement, the ACP has opened a consultation process from now until May 21, in which interested parties may apply for participation at the public hearing to be held on May 23 at the ACP. At the public hearing, the ACP wish to receive feedback from users about the announcement of the increase, which then must be approved by the Cabinet of the Government of Panama before it can take effect.