Panama Canal makes temporary changes to help clients during the pandemic

Panama Canal makes temporary changes to help clients during the pandemic

To help mitigate the economic impact of the Covid-19 pandemic, the Panama Canal has announced a temporary adjustment to its reservation system that will provide customers with added flexibility and relief.

Effective May 4, he waterway will implement temporary changes to the requirements for the placement of booking guarantees and advance payment of reservation fees when the reservation is confirmed. Customers will be allowed to place the guarantee for the payment of the booking slot prior to the vessel initiating transit.

“The Panama Canal has served customers for over a century’s worth of ebbs and flows, and so we know the importance of adaptability and partnership during this time,” said Panama Canal administrator Ricaurte Vásquez Morales. “The months ahead will be challenging across our industry, but we aim to help reduce the financial burden for our customers today so we can all stand ready for a brighter future tomorrow.”

The measure will be in place for 120 days, lifting on September 1.

Shipowners will now be watching to see how the Suez Canal responds to the pandemic crisis with an increasing volume of ships opting to avoid the waterway and head via the Cape of Good Hope.

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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