MOL to Equip LR1 Tanker with Carbon Capture System
Mitsui O.S.K. Lines will equip its LR1 product tanker, Nexus Victoria, with the an onboard CO2 capture system. The installation will mark the first commercial installation of a CO2 capture...
Panama has approved a new toll structure for ships using the waterway. The new structure will be phased in beginning in 2023.
The new structure, recommended by the Panama Canal Board of Directors following a formal consultation and public hearing process, was approved this month by the Cabinet Council of the Republic of Panama. The Panama Canal Authority said the new structure will “assume a simplified, value-based pricing structure, reducing the number of tariffs from 430 to fewer than 60.”
“The proposal aims to strengthen the tolls structure in a way that is consistent with the value provided by the Canal transit service while providing greater visibility and predictability to customers,” said Panama Canal Administrator Ricaurte Vásquez Morales.
The tolls proposal, issued on April 1st, 2022, went through a formal consultation period with comments and opinions submitted in writing from 17 interested parties. A public hearing held in Panama on May 20, 2022, included the participation of 7 parties representing local and international customers.
The toll structure recommended the following key adjustments, among others:
All other tariffs will be implemented gradually from January 2023 to January 2025 at the originally proposed levels, including the proposed modifications to the loyalty program for containerships, which will be phased out by January 2025. Incentives for return voyages applicable to containerships and liquefied natural gas (LNG) vessels will be eliminated by January 2023 when the new structure comes into effect.
The visibility charge currently applied to full containerships, and classified as Other Marine Services, will be eliminated prior to the implementation of the new tolls to avoid an overlap with the Total TEU capacity (TTA) charge.
Specific information about the newly approved toll structure can be found on the Panama Canal’s website: https://www.pancanal.com/en/tolls/.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,945 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,945 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up