THE Panama Canal Authority (ACP) plans to modify the canal's pricing structure to "align toll charges with the value the route provides".

The ACP said in a statement that the proposal aims to increase the number of segments from eight to eleven vessel types. It establishes a new segment for container/breakbulk vessels. In addition, it also breaks down the tanker segment into three distinct segments and incorporates the roll-on/roll-off vessels into the vehicle carrier segment.

If approved, the Panama Canal market segmentation scheme will include the following segments: full container, reefer, dry bulk, passenger, vehicle carrier and ro-ro, tanker, chemical tanker, LPG, general cargo and others.

The authority plans to introduce the new charges in July. Under the proposal, the ACP aims to increase the tolls for the following segments: general cargo, container/break bulk (new segment), dry bulk, tanker (redefined segment), chemical tanker (new segment), LPG (new segment), vehicle carrier and ro-ro (merged segment), and the segment known as others. The remaining segments will not be adjusted at this time. Additionally, there will be changes to tolls applicable to small vessels based on vessel length, to incorporate adjustments not previously considered.

"This proposal continues to align the Panama Canal tolls to the value, benefit and quality the route provides, and maintains the competitiveness of the Panama Canal," said ACP chief executive Alberto Aleman Zubieta.

As part of the tolls adjustment process, the ACP has established a consultation period from April 20 - May 21, during which the ACP will receive formal written comments, opinions and written requests from interested parties to participate in the public hearing, which will be held in Panama City, Panama, on May 23.

"The ACP will continue its dialogue with the industry to develop a pricing structure that meets the needs of our customers - one that benefits them and Panama," Mr Aleman Zubieta said.