Panama Canal makes small changes to pricing proposals

The Panama Canal Authority (ACP) it has published its proposal to restructure the Panama Canal's pricing system and certain regulations, with ?some slight? changes reflecting input from the shipping industry.

The ACP says its proposals, originally announced in February were intended to move towards a charge that ?accurately reflects the commercial value of the service and route?. The proposal announced today has been slightly modified from the February proposal.

The ACP says ?At the request of the industry, implementation of the new charges has been postponed from May 2007 to July 2007. Due to this modification, the ACP today is reopening the issue for public comment and will consider additional input, suggestions and feedback from interested parties over the next 15 days.?

"This open and transparent process has given the ACP an opportunity to further understand the needs of the industry. They told us that they wanted the timeframe for implementation extended, and we listened," said ACP Administrator/CEO Alberto Alem?n Zubieta. "We look forward to continue providing our customers with a safe, reliable and efficient service, at a price that captures the true value of the route and service."