Panama Canal toll revision

The ACP recently introduced a substantial increase in fees, aimed at offsetting the cost of constructing new locks capable of taking post-Panamax vessels. At least one shipping line, CMA CGM has since opted to avoid the canal on the less lucrative return leg to the Far East from the Caribbean and Northern South America and instead is operating an easterly round-the-world service via South Africa’s Cape of Good Hope.

Partly as a result of this and also “Demonstrating sensitivity to customer needs during these uncertain economic times,” the ACP has announced a temporary plan that will provide short-term cost reduction and greater flexibility to its Reservation System to take effect on June 1, 2009 and continue through September 30, 2009.

The two primary components are (i) a redefinition of ballast (ships without cargo) for full container vessels transiting the Cana and (ii) modifications to the Reservation System.