As part of the Canal's efforts to manage the maximum draught available for transit through the Canal, The Panama Canal will modify the variable component of the Fresh Water Charge (FWC) with the objective of reserving water and improving lake levels impacted by the lack of rainfall.
With this adjustment to the FWC, and given the current level of Gatun Lake, Panama Canal customers will see a reduction of approximately 50 % in the variable rate compared to the current formula, the Panama Canal Authority (ACP) said in a statement.
The average reduction for a Neopanamax vessel will be B/.19,700 per transit, and for a Panamax vessel B/.6,800 per transit.
The FWC is applicable to all vessels over 38.1m (125 ft) in length transiting the Canal.
Changes in rainfall patterns that have affected the availability of water in the Panama Canal's lake system, prompted the Canal to adopt measures to optimise its use, including FWC, starting in 2020.
The Panama Canal incorporated the value of water into the Other Maritime Services (OSM) line item through a freshwater charge that depends on the availability of the water resource at the time of transit.
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