Panama Canal Hearing on Tolls Structure
The Panama Canal Authority (ACP) held Tuesday a public hearing on the proposed modifications of its toll structure which culminated the period for receiving inquiries from the industry.
The agency of the government of Panama responsible for the operation and management of the Panama Canal recently published a proposal to modify its current tolls structure for the dry bulk, passenger, containership, vehicle carrier and RoRo segments, as well as tankers, chemical tankers, LPG and LNG vessels, the intra-maritime cluster and minimum tolls.
“The public hearing is an invaluable part of the process,” said Panama Canal Administrator Jorge L. Quijano. “We appreciate the input we received today from the maritime community and will ensure all is carefully considered for the new tolls structure.”
After a careful evaluation and analysis of the comments received, and once all pertinent considerations are incorporated into the structure, the Panama Canal Board of Directors will approve the final proposal to be presented to the Cabinet Council of the Republic of Panama, who will officially approve the modifications.
The proposed date for implementation of the modifications to the tolls structure is January 1, 2020.
First announced on June 14, 2019, the proposed modifications are designed to increase transparency and flexibility, to ensure the waterway remains competitive and optimal for the industry today and moving forward.