Panama Canal to make toll adjustments to be more competitive
Posted on 2017-06-27

The canal entity is preparing to make modifications to the tolls and for the segment of container ships, the proposal offers more attractive rates for containers loaded on the return journey. 

Panama Canal administrator Jorge Quijano said that although container ships are making their contribution and are in first place in transit through the new locks, expectations were higher.

 He emphasized that they expected more revenue from container ships, however, they face competition for fuel costs around $ 45 a barrel compared to the cost of $ 100 a few years ago and many ships are not returning through the Panama Canal , But they are going through Suez that has dropped 65% of the cost of their tolls. “These situations put us in a competitive environment and we have to see what we do to bring those ships back through the Panama Canal. 

Given this situation, the canal company is preparing to make changes to the tolls and for the container ship segment, the proposal offers more attractive rates for containers loaded on the return trip, applicable only to those neopanamax vessels located in the route of the Canal in trips back and forth.

Jorge Quijano said that they have been analyzing the load flows they have had and see how they can be more competitive in certain areas where there is scope for upward adjustments.

 All interested parties are invited to participate in the consultation process and also in the public hearing to be held in Panama City on July 5, said ACP.

Source: Panama America