Shipping hits out at Panama toll hikes
The shipping industry joined forces to condemn the proposed toll increases by the Panama Canal Authority as “unacceptable” during a public hearing yesterday. The ACP has received 21 written submissions from maritime industry and Panama Canal customers. The International Chamber of Shipping backed by Bimco, Intertanko, Intercargo, the Japanese Shipowners' Association, the Asian Shipowners' Forum, the Chilean Shipowners Association (ANA), the Singapore Shipping Association, Chile's CSAV, CMA-CGM, Wallenius Wilhelmsen and Evergreen urged ACP to reconsider the hikes and the time frame for implementation. "The ACP should provide a more equitable distribution of costs between the present and future users", said Japanese Shipowners’ Association's Naoshige Makino. “Such an increase will only exacerbate the current economic pressure which the shipping industry is facing,” observed S.S. Teo, President of Singapore Shipping Association. ACP Administrator Alberto Aleman Zubieta, however said that the toll proposal "reflects an effort toward charging customers the market price of the Canal service today". The ACP will review industry comments before presenting its recommendations to Panama's Cabinet Meeting for approval.
