The Panama Canal Authority postpones the price increases on canal transit fees, which were due to come into effect on 15 April.
In fact, the announcement follows a joint letter sent by the International Chamber of Shipping (ICS), Asian Shipowners’ Association (ASA), and European Community Shipowners’ Association (ECSA), expressing concerns over the speed of price increases that were expected to begin from 15 April 2021.
However, 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%) will now start on 1 June 2021.
We are reassured to see that ACP has responded to industry’s calls to postpone its proposed transit reservation price increases until 1 June, giving industry time to fully prepare for these changes. The increases represent a significant rise in cost, especially considering the ongoing economic impact of the COVID-19 pandemic.
….ICS Secretary General Guy Platten said.
The letter, sent on 17 March 2021, expressed concerns over the “significant increase” of the fees and stated that the 15 April start-date given by the ACP was too short for the maritime industry and canal users to be able to adjust.
From its side, ACP has linked the increased fees to changing supply and demand conditions for the service it offers. To remind, Panama Canal is one of the world’s busiest shipping routes; nearly 14,000 transits were made last year.
In light of the situation, the authority on 13 April 2021, announced the postponed date for the new booking tariffs. As explained, this change in the implementation date will provide the maritime industry more time to prepare for the adjustment to the new booking fees.
“ASA would like to express our gratitude to the ACP for taking consideration of the maritime industry and postpone its implementation dates from 15 April 2021 to 1 June 2021. ASA is appreciative that the ACP will continue to review on the voices of canal users in their future canal operations and managements, based on a higher economic stability and transparency”.
…Asian Shipowners’ Association (ASA) Secretary General, Yuchi Sonoda expressed appreciation for the decision to postpone.
