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Wednesday, July 23 2014 @ 10:33 PM EDT

Panama Canal Toll Increases Will Be Implemented in October 2012

Canal Daily Operation
Alberto Alemán Zubieta - Administrator of the Panama Canal Authority
Alberto Alemán Zubieta - Administrator of the Panama Canal Authority
The implementation date for the increases to tolls on the Panama Canal has been postponed because users need more time to adjust their rates. This was reported by the Administrator of the Panama Canal Authority (ACP), Alberto Aleman Zubieta, who explained that during a visit by the Minister of Trade and Industry, Ricardo Quijano to China, to Japan and Korea, he met with users of the waterway and collected their ideas and concerns. Once the ACP decides to increase the tolls, the proposal must be submitted to the board of the Canal with its implementation date, which is expected to be October 1, and the commission will take charge of the issue and send it to the Executive Cabinet Council for approval, said the administrator.

Necessary Process - Aleman Zubieta said the toll increase was not included in this year's budget, however that is part of establishing tolls. Meanwhile he said he was concerned about the situation in the world, because the global economy is not picking up as they expected, and that could impact the final tonnage in the last quarter of the fiscal period of the Canal. "We have a strong institution, and we will continue to develop the Canal (...) there is a Board of Directors which knows the policies the Canal should follow," he said. (Panama America)

Editor's Comment: They were going to implement these toll increases in July 2012, but now apparently the ACP has decided to delay implementation until October of this year. They have been discussing this for months, however some ignorant people have been trying to say these toll increases have something to do with the recently created budget shortfall, but in fact the two issues are not related.

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