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Increase in tariffs makes waves in Panama Canal

Monday, May 28, 2012

The Panama Canal Authority plans to increase tolls by up to 15 percent, a move regarded as unacceptable by the International Chamber of Shipping.

The chamber represents 80 percent of the world's shipping companies. The Canal Authority planned to make the increase effective by July this year.

In a clearly irritated tone, the chamber wrote a letter to the Canal Authority asking to withdraw the plan. In the future, a notice of at least six months should be issued so shipping companies can calculate the impact on their finances, the letter stated.

Full story (in Spanish)