From a statement from the Panama Canal Authority (ACP):
Cabinet Council approves new Panama Canal tolls
Panama City, August 8, 2012. - On the recommendation of the
Board of Directors of the Panama Canal Authority (ACP), the Cabinet Council of the Republic of Panama has approved a new toll structure for the waterway.
The proposal was approved during the Cabinet Council meeting on Tuesday.
"The new pricing structure reflects the market value that the route of the Panama Canal offers its users. We reaffirm our commitment to work hand in hand with the industry to continue providing a and competitive reliable service", said ACP Administrator, German Alberto Zubieta.
The new tolls have been postponed until October 2012 and October 2013, respectively.
Source: Panama Canal Authority
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The Panama Canal Authority presented its proposal for new rates, which would come into effect on January 2011.
It modifies the price structure for the Canal’s eight segments: container ships, dry-bulk, liquid bulk, vehicle ships, refrigerated vessels, passengers, general cargo and others.
Starting on January 1st 2011, vessels transiting through the Canal will pay $74 for each container, up from $72.
The presidential cabinet included an exception for refrigerated cargo containers. The increase for them will come into force on April 2011, after a request from Peru, Ecuador and Chile, who alleged the negative effects the economic crisis has had on the maritime cargo industry.
The increase from $63 to $72 in the toll for Twenty-foot Equivalent (TEU) containers is scheduled for May 2009.
Prensa.com reports: "In 2007, it was agreed that the toll increase would happen in three stages and the plan still stands, said the administrator of the Panama Canal Authority (ACP), Alberto Aleman Zubieta.
The company Maersk Line has restructured its service between Asia and the U.S., using the Suez Canal rather than the Panama Canal, mainly for reasons of profitability.
This was the justification given by Sobren Skou, chief executive of the company, in a statement to The Australian Financial Review.