$829,468: Boxship set to pay record Panama Canal fee today

Later today a boxship will pay the highest ever Panama Canal transit fee in the waterway’s 102-year history.

The Hong Kong-flagged MOL Benefactor will shell out $829,468 for the 77 km interoceanic crossing, beating the record $575,545 Cosco Shipping Panama paid as the first vessel to transit the expanded canal last Sunday.

The MOL Benefactor is a Seaspan controlled 10,000 teu ship which is 337 m long and 48 m wide.

Given that the newly widened canal can accept boxships of up to 12,000 teu, a $1m transit fee is on the cards soon, all happening to repay the $5.25bn Panamanian authorities have paid to get the waterway widened over the past decade.


Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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