- Panama Canal Authority Introduces New Tariff System Starting 2024.
- Major Carriers Impose New Surcharges for Asia-US Transits.
- MSC to Add $40 Per TEU Surcharge on Panama Canal Routes.
The ACP announces a new system of transit reservations to be applied starting 1 January, which will be characterized by new tariff structures, fees, and charges. The ACP has indicated that these updates are directed toward Improving the level of service, Improving the value of the reservations service, Improving the management of supply and demand, and Optimizing transit operations, reports The Load Star.
Carriers Respond with Surcharges
In response to these changes, two major carriers, MSC and CMA CGM, have announced new Panama Canal surcharges for Asia-US East and Gulf Coast transits. “To address the increased costs associated with these changes and maintain [its] commitment to providing reliable and efficient services,” MSC will introduce a $40 per TEU surcharge for all cargo types starting 1 January.
Similarly, CMA CGM has announced a $40 per TEU “Panama Canal transit surcharge” effective the same date. The carrier noted the surcharge was necessary “to recover this extra cost” and “keep providing most reliable services transiting through Panama Canal.”
Expected Effects in the Ocean Alliance Services
The shippers and forwarders are also to experience the same overcharge that may face at CMA CGM’s Ocean Alliance, comprising Cosco, OOCL, Evergreen, and other entities that most certainly share those same costs. Some services may suffer:
- Chesapeake Bay Express (CBX)
- Gulf of Mexico Express (GMXP)
- Manhattan Bridge (MANB)
- Pacific Express 3 (PEX3)
- South Atlantic Express (SAX)
- Taiwan Strait (TWS)
- Vespucci Service (VESPUCCI)
According to the eeSea liner database, only the AWE9 and AWE6 services are operated exclusively by CMA CGM, while other services are shared with alliance partners.
Revenue from Surcharges
A quick analysis suggests considerable revenue potential from these surcharges: A vessel with 12,500 TEU can raise around $500,000 in each transit and A 9,000 TEU vessel will be able to raise about $360,000.
ACP Introduces New Measures and Flexibility
To discourage late cancellations and no-shows, ACP has introduced stricter penalties, including a surcharge equivalent to 250% of the reservation fee if a vessel fails to arrive within seven days of the booked date.
At the same time, ACP is offering more flexibility:
- Request Swapping: Vessel request swapping is allowed free of charge up to 14 days in advance. If done within 14 days before arrival, a 1% surcharge on the reservation fee is levied.
- Last-Minute Transit Bookings: There is a new tariff to enable vessels without prior bookings to be guaranteed last-minute transit.
- Vessel Scheduling Fee: A new fee is applied to vessels unable to book through the regular systems but requires canal coordination for transit.
“These changes will provide greater flexibility and convenience for customers while ensuring efficient use of canal resources,” stated ACP.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: The Load Star
