Joseph Bonney, Senior Editor | May 25, 2012 8:59AM EDT
The International Chamber of Shipping criticized planned Panama Canal toll increases as “rushed, excessive and likely to cause further problems for shipping companies.”
The shipowner group told the Panama Canal Authority that plans to raise tolls by up to 15 percent are “simply unacceptable.” The toll increases would not apply to container ships, but would cover containers carried by breakbulk vessels.
The ICS urged the canal authority to withdraw plans for the toll increases and to provide at least six months’ notice for future increases.
ICS Secretary General Peter Hinchliffe said there was “no pressing need” for the increases” because “canal revenues are currently very healthy.”
Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter @josephbonney.
