News
Following the Panama Canal Commission's implementation of a Freshwater Surcharge beginning February 15, ocean carriers are leaning toward adopting the equivalent surcharges on shipments passing through the canal.
The Freshwater Surcharge was introduced to sustain an operational level of water and provide reliability to customers while the commission implements a long-term solution to water.
The new freshwater fee is applied to all vessels over 125 feet in length overall (LOA) that transit through the Panama Canal, and will include the following components: A fixed fee of $10,000 per transit and a variable fee ranging from a minimum of 1 percent to a maximum of 10 percent of the vessel's toll is applied depending on Gatun Lake levels at the time of transit (i.e. if the lake has a higher level, the percentage will be lower and vice versa).
As a result of those fees, APL will implement Panama Canal Adjustment Factor of $15 per TEU, effective March 1, 2020 (except for Chinese trades with an effective date of March 5, 2020 and U.S. trades with an effective date of March 6, 2020). Maersk also announced the implementation of a Panama Canal Surcharge of $30 per container (both dry and reefer) for all cargo transiting through the Canal, effective April 1, 2020.
