Panama approves new tolls

Panama approves new tolls    The government of Panama has approved a proposal by the Panama Canal Authority to raise tolls and modify the toll pricing structure for all types of vessel traffic.
   The new tolls go into effect on Jan. 1, with the exception of refrigerated vessels. The Panama Canal Authority said it amended its original proposal by pushing back the effective date for the reefer segment until April.
   Container vessel fees will include a new, additional charge for the number of loaded containers aboard a vessel on top of the vessel capacity charge. Tolls for container vessels will increase more than 13 percent under the new pricing structure after increasing 71 percent during the past five years.
   The canal administration plans to use the extra revenue to help pay for the $5.25 billion canal expansion underway and to increase contributions to the Panamanian treasury.
   The Panama Canal Authority received comments from stakeholders and held a public hearing on June 1 to include public input in the decision-making process. It said it abstained from toll increases in 2010 in response to user feedback. The administration presented its new toll package on April 27.