The public hearing marks the conclusion of the Panama Canal’s formal consultation period, as it seeks to approve a simplified toll structure that will reduce the number of tariffs from 430 to less than 60.

The Panama Canal concluded today, Friday, its formal consultation period for industry feedback on its simplified tolls structure proposal by holding a public hearing.

“This is a very important step in every tolls modification process at the Panama Canal,” said Panama Canal Administrator Ricaurte Vásquez Morales. “We appreciate the input that we received from the maritime community and our customers. As we renew our commitment to add value for customers, we will ensure their feedback is carefully considered as we move forward in this process.”

The process began on April 1, 2022 when the proposal for the modification of tolls and Admeasurement rules for vessels for the use of the Panama Canal was published.

In compliance with the applicable regulations, a period of 47 days was granted for the consultation stage in order to allow all interested parties to submit their comments or opinions in writing.

The period for the receipt of documents ended on May 17, 2022 at 4:15 p.m., with 17 letters of interest received. Likewise, for today’s public hearing, 7 interested parties participated as speakers.

Following careful review, evaluation, and methodical analyses of the comments received, and once all pertinent considerations are incorporated into the proposal, the Panama Canal Board of Directors will present the final proposal to the Cabinet Council of the Republic of Panama for final approval.