The Cabinet Council of the Republic of Panama has approved the tolls structure recommended by the Panama Canal Board of Directors, following a formal consultation and public hearing process that considered industry feedback.
With this approval, the Panama Canal will assume a simplified, value-based pricing structure, reducing the number of tariffs from 430 to fewer than 60.
“The proposal aims to strengthen the tolls structure in a way that is consistent with the value provided by the Canal transit service while providing greater visibility and predictability to customers,” said Panama Canal Administrator Ricaurte Vásquez Morales.
The tolls proposal was issued on April 1st, 2022 and went through a formal consultation period during which 17 interested parties submitted their comments or opinions in writing. The public hearing was held in Panama on May 20, 2022, with the participation of seven parties, representing local and international customers.