Panama’s Cabinet Council has officially approved the modification of the Panama Canal tolls structure, following a recommendation from the Panama Canal Board of Directors.
The approved modifications include the tolls charged to
Neopanamax dry bulk vessels carrying iron ore, Neopanamax dry bulk vessels
transiting in ballast, the vehicle carrier/roro segment, and for the liquid
bulk segment, including oil and product tankers, chemical tankers, LPG and LNG
The approved modifications also include adjustments made in
response to topics discussed during meetings with customers and industry
representatives held prior to the process, as well as feedback received during
the formal consultation period, the Panama Canal Administration said.
Such adjustments include the exclusion of the proposed tolls
modification for the passenger vessel segment, which will continue to be
charged per the current tariff structure. Additionally, considerations were
granted to postpone the implementation date for tolls applicable to certain
segments until the months of April and May 2020.
For the dry bulk segment, the modifications include matched
tolls charged to Neopanamax vessels carrying iron ore with the tolls assessed
for grains and “other dry bulk” cargoes. This includes a tariff increase for
Neopanamax dry bulkers transiting in ballast.
In the containership segment there are two new categories
incorporated to the Loyalty Program with the objective of incentivizing the
deployment of increased cargo volumes and additional services through the
Additionally, the modifications include a new rate for
vessels carrying containers on deck, which do not belong to the container
shipping segment, allowing for differentiated charges for containers that are
empty, dry or refrigerated. In the vehicle carrier and RoRo segment the the
tolls charged were modified and the vessel capacity ranges were revised in
order to clearly differentiate the current fleet. Based on the recommendations
received, the tolls presented in the original proposal were adjusted for
Toll structures remain unchanged for tankers, chemical
tankers, LPG and LNG vessels, but tolls adjustments were approved to more
closely align with the value of the route.
The tolls for small vessels and local tourism were revised
upwards to consider the resources used in the transit.
The proposed tolls modifications were officially announced
on June 14, 2019, initiating a formal 30-day consultation period concluded by a
public hearing held on July 24, 2019.