While speaking at AAPA Latino in Cartagena, Colombia, on November 30, Administrator Vásquez announced the Panama Canal Green Vessel Classification system, which will include a Greenhouse Gas (GHG) Emissions Fee.
These changes will build upon the Canal’s existing incentives for sustainable shipping lines, provided through its Green Connection Environmental Recognition Program. This program has evolved from the Green Connection Award, the Environmental Premium Ranking, and the Emissions Calculator.
As explained, the fee will support investments to guarantee environmental performance standards and aid in making Canal operations carbon neutral.
Ships will be classified in levels depending on their energy efficiency. The classification and fee will apply to all vessels over 125 feet (38.1 meters) length overall (LOA).
This classification system will incorporate the following three factors that will reduce GHG emissions between 20-100 percent during transit through the Canal:
- Energy Efficient Design Index (EEDI)
- Efficient operational measures such as the use of Bow Thrusters
- Use of Zero Carbon Biofuels or Carbon Neutral Fuels
The Canal has held discussions with ship owners directly for transparency, as it evaluates these changes, and will work in partnership with customers to accelerate carbon neutrality. This program will align with the International Maritime Organization regulations that promote international plans for decarbonization in the maritime sector.
…Panama Canal stated.
