The Republic of Panama Cabinet Council has approved a new toll structure for the Panama Canal which will apply from January next year.
The government approval was given after proposed changes were adjusted following an extensive consultation period with shipping industry stakeholders. The new toll scheme was first proposed in April this year.
Panama Canal Authority (PCA) management emphasised that the new toll scheme would be simplified — reducing the number of tariffs from 430 to less than 60 — and would offer shipowners a “value-based pricing structure”.
“The proposal aims to strengthen the tolls structure in a way that is consistent with the value provided by the Canal transit service while providing greater visibility and predictability to customers,” said Panama Canal administrator Ricaurte Vasquez Morales.
After the consultation with industry it was agreed that, for the transit of vessels in ballast condition, with the exception of container ships, tolls will be 80% of the laden toll, rather than the original proposal for 90%.
Increases in passenger ship tolls have been delayed for a further year, until 2024, in consideration of the cruise ship industry’s struggles after the Covid-19 pandemic.
For container ships the charge for empty containers will be reduced to $2 per teu in 2023, $4 per teu in 2024, and $6 per teu in 2025, instead of the original proposal for increases of $5, $6.50, and $8 for each of those years.
Shipowner associations had earlier complained about the PCA’s proposed rate changes.
The Asian Shipowners Association (ASA) said some ships faced a 100% increase in tolls by 2025.
“Such a significant toll hike may not be compatible with the long-term sustainability required for a global infrastructure,” the ASA said.
