The Panama Canal Authority has et in motion the process of restructuring its pricing system. A period of public consultation will end on 12 March. ACP Administrator/CEO Alberto Alemán Zubieta said: "This proposal is well thought out and well researched. We recognize the value of the Panama Canal and its service to the shipping and maritime communities, and, indeed, to global trade. These new prices will allow us to continue providing the industry with the service they want and the service they deserve. At the same time, they will allow us to make the programmed investments for the Panama Canal Master Plan, which proposes to expand the capacity of the existing Canal through the construction of a third set of locks. The industry has continually requested price stability and we have included this in our proposal and extended it until 2009, unparalleled in the industry.”Proposed changes to the pricing system and Canal regulations include toll increases dependent on vessels type: container vessels, passenger vessels, general cargo, refrigerated cargo, dry bulk, tankers and vehicle carriers. THE ACP says: “These adjustments provide Panama Canal price stability for three years. Of note, tolls for non container segments have not increased in the last four years. “
Vessels charged based on their displacement will pay according to the maximum displacement draft instead of the arrival draft. The ACP is proposing an assessment of tolls based on maximum passenger capacity. In general, under this change, large vessels will be charged tolls on a per berth basis, and smaller ships will continue under the Canal tonnage tolls system. It says: “These changes are largely due to suggestions from industry representatives and evidence another example of the ACP listening to the industry.” Some minor administrative changes have also been proposed.