The government of Panama has given the green light to a modified toll structure for the Panama Canal, the first revision of tolls since the canal expansion project was inaugurated in June 2016.
Its main effect will be to offer more attractive rates to neopanamax container ships per loaded containers on the return leg of a round trip. Frequent users will also be given preferential rates.
Since the expansion, which hinged on the construction of new third locks, the canal has been handling bigger ships.
Tolls for LNG and LPG carriers will be modified and breakbulk vessels will be reclassified as general cargo, making their rates more attractive.
The Panama Canal Authority (ACP) recommended the modifications after extensive consultation with industry stakeholders and Canal customers.
These changes will come into effect on October 1.