Panama confirms new canal toll structure

The Panamanian government has approved a Panama Canal Authority (ACP) proposal to modify the Panama Canal’s toll structure which provides tariff reductions for neo-Panamax vessels.

Vessels carrying between 3,500 teu and 6,000 teu benefit the most, with a reduction of US$20 per teu on the return voyage if they are deployed on the canal’s route in the head and back haul legs, provided they meet certain requirements.

To qualify for the reduction the ships must have a northbound transit utilisation rate of at least 70% and a time lapse between northbound and southbound transit of no more than 28 days, and the new tolls will be applied from October 1, 2017 – the start of Canal’s next fiscal year.