Possible change in Panama Canal toll calculation

As the expansion of the Panama Canal continues, the Panama Canal Authority may change the way it calculates tolls for commodity carriers and tankers hauling fuels, once construction work is complete in 2015.

According to Bloomberg.com, the Authority may calculate fees based on the cargo capacity of these vessels, rather than the existing toll system that does not usually reflect such capacity.  That price structure would be more in line with fees charge to container ships, for which tolls have been calculated based on cargo capacity since 2005.

The possible change is purportedly to increase canal traffic, which now represents 5 percent of world trade.  A decision of the toll calculation change is expected in February 2014.

Check out this Panama Canal time-lapse video.

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