The Panama Canal Authority made a proposal for a new toll structure, following more than a year of informal consultations with representatives from various industry segments.
The proposed restructuring calls for each segment to be priced based upon different units of measurement, while aligning with customers’ needs and requests, and modifying pricing for all canal segments. For instance, LNG will be based on cubic meters.
Pricing for containers will be measured and priced on TEUs, dry bulkers will be based on deadweight tonnage capacity and metric tons of cargo, passenger vessels will be based on berths and tankers will be measured and priced on Panama canal tons and metric tons.
The new structure will apply to the existing canal as well as the new lane of traffic when the expansion project begins operation in 2016. The new locks will allow shipping lines to transit the canal with larger ships, providing greater economies of scale. Moreover, the expansion will open new global shipping routes and allow the transit of non-traditional commodities through the waterway, such as liquefied natural gas.
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LNG World News Staff; Image: Panama Canal