According to the International Chamber of Shipping, the
proposed changes represent a minimum cost increase per transit reservation of
$20,000 (up 57%) and a maximum cost increase of $58,500 (up 167%). The ACP says
they will now start on 1 June 2021, giving the maritime industry more time to
prepare for the adjustment to the new booking fees.
The announcement from the ACP follows a joint letter sent by
the International Chamber of Shipping (ICS), Asian Shipowners’ Association
(ASA), and European Community Shipowners’ Association (ECSA), expressing
concerns over the speed of price increases that were expected to begin from
April 15, 2021.
The letter, sent on March 17, 2021, expressed concerns over
the “significant increase” of the fees and stated that the April 15 start-date
given by the ACP was too soon for the maritime industry and canal users to be
able to adjust. ACP has linked the increased fees to changing supply and demand
conditions for the service it offers.
“We appreciate that the fee change is designed to adapt to
changing supply and demand for the Panama Canal’s service and we look forward
to establishing a productive dialogue with the ACP to develop a long-term
pricing strategy to provide industry with predictability on transit cost,” said
ICS Secretary General Guy Platten. “We hope to be able to hold a virtual
meeting with the ACP to discuss and gain further clarity on these issues.”
The Panama Canal is one of the world’s busiest shipping
routes. It has historically handled about 5% of world trade and recorded nearly
14,000 ship transits in 2020. Container shipping, its biggest user, accounts
for about 35% of the total tonnage that passes through the canal.
The Asian Shipowners’ Association (ASA) Secretary General,
Yuchi Sonoda expressed appreciation for the decision to postpone.
“ASA is appreciative that the ACP will continue to review on
the voices of canal users in their future canal operations and managements,
based on a higher economic stability and transparency,” Sonoda said.
The ACP’s announcement comes as a relief to the shipping
industry as it continues to navigate the crew change crisis, port congestion,
and other COVID-19 pandemic related disruptions.
Martin Dorsman, Secretary General of ECSA, said, “On behalf
of the European shipowners, I welcome the decision of the ACP to postpone the
application of the new booking fees. Especially in these times of high
uncertainty, it is important for the shipping industry to be able to better
prepare for these changes. We appreciated the good cooperation with the ACP and
look forward to a continued dialogue”