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No toll hikes in 2015 vows Panama Canal as it sets out new incentives
NEW Panama Canal tolls structures, which will include a series of "very innovative new approaches" containing incentives to attract new customers, reports Colchester, England's SeaTrade Global.
There will be a loyalty programme for containerships as well as a promise of no toll increases in 2015. "Frequent container customers will receive premium prices, once a particular TEU volume is reached," said the Panama Canal Authority (ACP) statement.
Proposed tolls include reductions in capacity-based charges and price differentiation based on vessel size ranges. With this, the ACP shares risks associated with fluctuating conditions and lower-utilisation on backhauls.
"The idea is to attract more volume and recognise those customers who have maintained their services and loyalty and change from a policy of toll increases to volume increases," said ACP administrator Jorge Quijano.
ACP is now inviting formal comments on its proposed toll reforms. A public hearing will take place on February 27, written comments must be received by the deadline of 4.15pm February 9 local time.
Those interested in delivering remarks at the public hearing have until February 9 to announce their interest to participate in writing," said the ACP statement.
Toll restructuring calls for each segment to be priced based upon different units of measurement, while "aligning with customers' needs and requests, and modifying pricing for all canal segments.
"For instance, containers will be measured and priced based on TEUs, dry bulkers will be based on deadweight capacity and metric tonnes of cargo, passenger vessels will be based on berths, LNG will be based on cubic metres and tankers will be measured and priced on Panama Canal tons and metric tonnes.
"The new structure will apply to the existing canal as well as the new lane of traffic when the expansion project begins operation in 2016. The new locks will allow shipping lines to transit the Canal with larger ships, providing greater economies of scale. Moreover, the expansion will open new global shipping routes and allow the transit of non-traditional commodities through the waterway, such as Liquefied Natural Gas (LNG)," said the ACP release.
There will be a loyalty programme for containerships as well as a promise of no toll increases in 2015. "Frequent container customers will receive premium prices, once a particular TEU volume is reached," said the Panama Canal Authority (ACP) statement.
Proposed tolls include reductions in capacity-based charges and price differentiation based on vessel size ranges. With this, the ACP shares risks associated with fluctuating conditions and lower-utilisation on backhauls.
"The idea is to attract more volume and recognise those customers who have maintained their services and loyalty and change from a policy of toll increases to volume increases," said ACP administrator Jorge Quijano.
ACP is now inviting formal comments on its proposed toll reforms. A public hearing will take place on February 27, written comments must be received by the deadline of 4.15pm February 9 local time.
Those interested in delivering remarks at the public hearing have until February 9 to announce their interest to participate in writing," said the ACP statement.
Toll restructuring calls for each segment to be priced based upon different units of measurement, while "aligning with customers' needs and requests, and modifying pricing for all canal segments.
"For instance, containers will be measured and priced based on TEUs, dry bulkers will be based on deadweight capacity and metric tonnes of cargo, passenger vessels will be based on berths, LNG will be based on cubic metres and tankers will be measured and priced on Panama Canal tons and metric tonnes.
"The new structure will apply to the existing canal as well as the new lane of traffic when the expansion project begins operation in 2016. The new locks will allow shipping lines to transit the Canal with larger ships, providing greater economies of scale. Moreover, the expansion will open new global shipping routes and allow the transit of non-traditional commodities through the waterway, such as Liquefied Natural Gas (LNG)," said the ACP release.
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