Panama Canal Authority to modify LNG toll structure

Panama Canal Authority to modify LNG toll structure

The Panama Canal Authority (ACP) proposed modifications to its current toll structure modifying the tolls charged to LPG and LNG vessels.

ACP started a 30-day formal consultation period for industry feedback following meetings with canal customers and industry representatives in Europe, Asia and North America.

“These meetings with customers in Asia, Europe and North America have been extremely valuable in providing us with a deeper understanding of the industry today, the challenges faced by individual market segments, and the projected demand for the Neopanamax locks,” said Panama Canal Administrator Jorge L. Quijano said.

Following the analysis of the feedback obtained during these meetings, and the current utilization and productivity of the Neopanamax locks, it was deemed necessary to provide additional incentives to the containership segment to revise the tolls for liquefied petroleum gas (LPG) and liquefied natural gas (LNG) vessels, and to reclassify container/breakbulk vessels.

The modifications were approved by the ACP’s Board of Directors on May 25, 2017.

The proposal modifies the tolls charged to LPG and LNG vessels but keeps the units of measurement unchanged. In addition, this tolls proposal reassigns the vessels classified by the ACP as ‘container/breakbulk’ into the ‘general cargo segment.’

“This reassignment will result in more attractive tariffs for customers in this category, as general cargo tolls are lower,” ACP’s statement reads.

This change is made in response to a request submitted by customers during the 2015 tolls hearing and consultation process, and due to the fact that container/breakbulk vessels operate in a manner similar to that of general cargo vessels.

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