Updated: 31-Mar-2008

Background

Since the opening of the Panama Canal in 1914, vessels have paid tolls to transit the waterway. 

Effective October 1, 1994, tolls have been calculated based on the Panama Canal Universal measurement System (PC/UMS), which in turn is based on the international standard for tonnage measurement established by the International Convention on Tonnage Measurement of Ships, 1969.

Upon its transfer to Panama at the end of 1999, the Canal moved from a break-even operation to a market-oriented model focused on customer attention, reliability and profitability.

Purpose of Tolls

Panama Canal Tolls revenues are spent on capital investments and used to finance Canal improvement programs to allow the ACP to continue providing a safe, reliable and efficient transit service to all its customers.

Calculating Tolls

During the years 2002-2003, the ACP introduced the initial phase of a new pricing structure that established price differentiation by size of vessel and laid the foundations for a market segmentation by type of vessel that takes into consideration segment needs and characteristics as well as the value proposition offered by the Panama Canal to each market segment.

In 2005, the ACP implemented a change in its admeasurement system applicable only to full container vessels and those vessels with container-carrying capacity on-deck.  The full container vessel adjustment modified the traditional measure utilized as the charge basis for these vessels, from PC/UMS Net Ton to a twenty feet container, or TEU (“twenty-foot equivalent unit”) and established the total TEU capacity, including on-deck, as the basis for the new charge.  The implementation was conducted over three years, beginning  on May 1, 2005, and culminating on May 1, 2007.

For other vessel types with on-deck container carrying capacity, the ACP continues to apply the PC/UMS tonnage to measure the enclosed spaces and spaces below deck, and to charge a per TEU fee to the actual number of containers carried on-deck.

The implementation of the new system brought the ACP into conformity with container industry international standards by adopting the TEU as the measurement unit for full container vessels and charging for the total container capacity of the vessels adjusted for ACP visibility restrictions.

Prior to the implementation of the new system the ACP charged full container vessels for a small portion (8.78%) of the cargo transported on-deck and applied the PC/UMS net ton to enclosed spaces and below deck.

In 2007, continuing with the price differentiation efforts begun in 2002, the ACP modified its regulations for the admeasurement of vessels and the tolls system of the Panama Canal to more closely align Canal toll charges to the value of the route. 

In the case of vessels charged tolls based on their displacement, the Canal will asses tolls based on the maximum displacement instead of the arrival displacement.

In the case of passenger vessels, the ACP will assess tolls based on the maximum passenger capacity in accordance with the International Tonnage Certificate 69, or the vessel’s passenger ship safety certificate; vessels over 30,000 gross tons and whose PC/UMS ÷ maximum passenger capacity ratio is equal to or less than 33 will be charged on a per berth basis according to the following table.  In addition, Panama Canal tolls per market segment are increased, in general terms, as shown in the following table.

The segmentation system by vessel type and size enhances the possibility for the Panama Canal Authority to offer new products to the various market segments, and places it in a position to competitively improve its services to users. Likewise, it will allow the Canal to continue its modernization program in order to remain as a route of the first order for world trade, and a strategic asset for the social and economic development of Panama.