Panama Canal delays toll increase

The Panama Canal Authority (ACP) today published a new proposal to restructure the Panama Canal’s pricing system and certain regulations. The proposal has been slightly modified from the February proposal: At the request of the industry, implementation of the new charges has been postponed from May to July this year. After a 30-day public consultation period, the ACP held a hearing on 14 March. Because of the modification, the ACP is today re-opening the issue for public comment and will consider additional suggestions and feedback over the next 15 days. However, there is no change in the toll proposal, which maintains the average increase of 10 % per year over the next three years. “The canal continues to be the best alternative to move cargo, the price is reasonable and we offer a quality service and safety”, ACP marketing director Rodolfo Sabonge told Fairplay. The ACP’s board of directors will review the comments received during the 15-day period before it makes a final decision and submits its recommendation to the Cabinet Council of Panama for approval. The submission is expected by end of April or in the first days of May.