Panama Canal To Charge GHG Emission Fee!


Panama Canal announces greenhouse gas emissions fee, reports Splash247.

About the emission fee

Speaking this week at the AAPA Latino conference in Colombia, Panama Canal Administrator Ricaurte Vásquez Morales announced the authority’s plan to implement a green vessel classification system that will include a new greenhouse gas (GHG) emissions fee. 

Financial penalties for shipowners will increase based on the volume of emissions. The fee is intended to help make the canal’s operations carbon-neutral.

Classification level

Under the new system, all ships over 38.1 m length overall (LOA) will be classified in levels depending on their energy efficiency.

The following will determine a ship’s classification level:

  • the ship’s EEDI (Energy Efficient Design Index) score
  • its use of efficient operational measures such as bow thrusters
  • use of zero-carbon biofuels or carbon-neutral fuels 

Fee amounts and a timeline for implementation have not yet been announced.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Splash247


This site uses Akismet to reduce spam. Learn how your comment data is processed.