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Panama Canal modifies transit reservation and service fees

Photo: Panama Canal Authority LNG transiting the Panama Canal.jpeg
The Panama Canal has announced that it will modify its transit reservation fees and other maritime services (OMS) in order to manage its capacity in the face of growing demand.

The Canal Authority said the changes were part of its continuous improvement process.

The authority explained the changes would help simplify the current structure and seek to reflect the value of the services provided by the waterway, including the reservation system, which ensures the certainty of transit on a given date.

With effect from 15 April, changes to the transit reservation system fees are as follows:

Booking Reservation Slots for the Panamax locks:

Regulars: (less than 27.74 m (91 feet) in beam): $10,500

Supers: (Length overall (LOA) less than 274.32 m (900 feet) and a maximum beam of 32.61 m (107 feet)): $40,000

Supers: (Vessels with a LOA between 274.32 m (900 feet) and 294.44 m (966 feet), and a

maximum beam of 32.61 m (107 feet)): $50,000

For the neo-panamax Locks:

Vessels with beam less than 42.67 m (140 feet) (including Panamax Plus vessels): $70,000

Vessels with beam equal to or greater than 42.67 m (140 feet): $85,000

Standard Auction Slots: The base or initial amounts for slots awarded through the regular auction process will be as follows:

For regular vessels, the base or initial amount will remain at $15,000

For supers, the base or initial amount will be $55,000

For neo-panamax vessels (including Panamax Plus) the base or initial amount will be $93,500

Special Auction Slots

Special Auction Slots: An additional slot for the neo-panamax locks will be offered through a special auction process. The dates and conditions under which this slot may be offered will depend on several variables, including vessel mix and other factors.  The base or initial amount for the slots awarded through the special auction process will be $100,000.

 The transit reservation system is an optional service offered by the Panama Canal that gives customers the possibility to transit on a specific date through the payment of an additional fee, thus guaranteeing transit. The rising demand for these slots has prompted the Canal to reflect the value of this service in tariffs to meet current demand and supply.

Also going into effect on 15 April the Panama Canal will modify other maritime services (OMS) provided by the waterway, including the transit related services fees for tugboats, line handlers and locomotives, as well as complementary services, such as vessel inspection, safety & security charge and Panama Canal Shipboard Oil Pollution Emergency Plan (PCSOPEP) charges, among others.

 Those measures are designed to improve the quality of the Canal’s service while adapting to an ever-changing market, including through initiatives that offer better or more effective ways to schedule transits. By making these changes, the Canal will ensure that it continues to create, capture and render value to customers and world trade, it said.

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