The Panama Canal Authority (ACP) has announced details of a new simplified toll structure which reduces the number of tariffs from 430 to under 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 new structure includes clarification of its application to vessels in ballast condition and empty containers. There is also a deferral of new tolls for passenger vessels until 2024 in view of the ongoing challenges. 

For containerships, the charge for empty containers will be reduced to $2 per teu in 2023, $4 per teu in 2024, and $6 per teu in 2025, instead of the $5, $6.50, and $8 that were initially proposed for each year, respectively.

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. The latter 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. (Photo Panama Canal Authority)