Panama unveils toll hikes

The Panama Canal Authority (ACP) has unveiled its long-awaited proposal to restructure pricing in preparation for the expansion programme. Tolls on laden container vessels would rise from the present $49/TEU to $54 as of May, then to $63 in 2008 and to $72 in 2009. Laden tanker tolls would increase from $2.96 per PC/UMS tonne currently to $3.29 (May), $3.70 (2008) and $3.98 (2009). Reefer tolls would rise from $2.96 per PC/UMS to $3.39 (October) and $3.80 (2008 and 2009). Dry bulker tolls would rise from $2.96 per PC/UMS tonne to $3.20 (May), $3.50 (2008) and $3.73 (2009). Vehicle carrier tolls would be hiked from $2.96 per PC/UMS to $3.24 (May), $3.60 (2008) and $3.87 (2009). General cargo vessel tolls would rise from $2.96 per PC/UMS to $3.26 (May), $3.63 (2008) and to $3.90 (2009). Passenger tolls (based on maximum passenger capacity) would be charged at $100/berth (October) then $115 (2008) and $120 (2009). The ACP will hold a public hearing on its proposal on 14 March. According to ACP Administrator Alberto Aleman, the new prices will allow the Authority to make the planned investments and expand the capacity of the existing Canal through the construction of a third set of locks.