The Panama Canal Authority board of directors late Friday approved a proposal to raise tolls on multiple vessel types, including container ships, in stages over the next two summers, the Journal of Commerce reported.
If approved, the proposal, which was issued late Friday afternoon, would increase tolls on laden container ships by 15.45 percent in the two stages to an average of $5.23 per PC/UMS ton (Panama Canal Universal Measurement System) from the current average of $4.53.
The proposal would also modify the canal’s pricing structure to align canal toll charges with what the Canal Authority calls “the value the route provides.
If approved, the proposal, which was issued late Friday afternoon, would increase tolls on laden container ships by 15.45 percent in the two stages to an average of $5.23 per PC/UMS ton (Panama Canal Universal Measurement System) from the current average of $4.53.
The proposal would also modify the canal’s pricing structure to align canal toll charges with what the Canal Authority calls “the value the route provides.
Canal Authority Administrator Alberto Aleman Zubieta has made no secret of the fact the tolls would increase over time to help finance the $5.25 billion construction on the third set of much larger locks to be completed by 2015.
But he also has made it clear the toll increases cannot be too big, because the canal competes with other routes, including the Suez Canal and the intermodal landbridge from the West Coast to the interior and eastern U.S.
“This proposal continues to align the Panama Canal tolls to the value, benefit and quality the route provides, and maintains the competitiveness of the Panama Canal,” Aleman said in announcing the proposed toll increases.
The proposal increases the number of vessel segments from eight to 11 by Panama Canal vessel type. It would establish a new segment for container/breakbulk vessels. It also breaks down the tanker segment into three distinct segments and incorporates roll-on, roll-off vessels into the vehicle carrier segment.
Once approved, the Panama Canal’s new market structure would include the following segments: full container; reefer; dry bulk; passenger; vehicle carrier and ro-ro; tanker; chemical tanker; LPG; general cargo and others.