Panama Canal Authority postpones planned price hike to relief of shipping industry
The Panama Canal Authority (ACP) has postponed price increases on canal transit reservation system fees, which were due to come into effect on April 15, 2021, in light of industry concerns.
A joint letter sent by the International Chamber of Shipping (ICS), Asian Shipowners’ Association (ASA) and European Community Shipowners’ Association (ECSA) expressed concerns over the “significant increase” of the fees.
The proposed changes represent a minimum cost increase per transit reservation of US$20,000 (up 57%) and a maximum cost increase of US$58,500 (up 167%) and will now start on June 1, 2021.
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