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Panama Canal Holds Public Hearing on Tolls Adjustments

Date: 23-MAY-2012

Panama City, May 23, 2012. Today, the Panama Canal Authority (ACP) held a public hearing in the Ascanio Arosemena Center in Balboa, Panama, on its proposal to modify the Panama Canal pricing structure to align Canal toll charges with the value the route provides. Seven representatives from shipping and government participated in this opportunity to express their views.

"Today, Panama Canal customers and members of the maritime industry were welcomed to participate in a transparent and open process," said ACP Administrator/CEO Alberto Alemán Zubieta. "We will study the comments made today, as well as the written submissions."

Throughout the consultation period (April 20, 2012 - May 21, 2012), the proposal was made available to all interested parties. The ACP received a total of 18 comments, opinions and written requests from interested parties to participate in the public hearing.

New Segments
The proposal increases the number of segments from eight to eleven by Panama Canal vessel type. It also breaks down the tanker segment into three distinct segments, establishes a new segment for container/breakbulk, and incorporates the roll-on/roll-off vessels into the vehicle carrier segment. Once approved, the Panama Canal market segmentation scheme will include the following segments: full container, reefer, dry bulk, passenger, vehicle carrier and ro-ro, container/breakbulk, tanker, chemical tanker, LPG, general cargo and others.

Price Proposal
Effective July 1, 2012, the ACP proposes to increase the tolls for the following segments: general cargo, container/break bulk, dry bulk, tanker, chemical tanker, LPG, vehicle carrier and ro-ro, and the segment known as others. The remaining segments -container, reefer and passenger - will not be adjusted at this time, nor will the price per TEU for containers carried onboard a vessel. Additionally, there will be changes to tolls applicable to small vessels based on vessel length, to incorporate adjustments not previously considered.

"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", stated Alemán Zubieta.

For more information, go to http://www.pancanal.com/peajes

About the Panama Canal Authority (ACP)
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please visit http://www.pancanal.com/. You can also follow us on Twitter: http://twitter.com/thepanamacanal.
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