Panama Canal Fees and USLNG
New Fees Not Seen Dampening U.S. LNG Exports (NatGas Intel, Subscription)
New fees to be implemented in mid-February by the Panama Canal Authority (ACP) don’t bode well for the LNG industry, but they may not lead to major repercussions for U.S. exports, an analyst said. In an effort to sustain operations following multiple low-rainfall years that have threatened the locks, the ACP plans to impose fees on freshwater and service handling to vessels that transit the Canal. It also plans to reduce the number of daily reservation slots available to vessels… With updated tolls for LNG carriers already set to go into effect in April, an LNG carrier with a capacity of 174,000 cubic meters would pay around $850,000 for a roundtrip ballast voyage completed within 60 days, up from around $785,000. Shipping broker Fearnleys AS: Tacking on a 10% fee would add around $80,000 to the voyage and while “it is not positive for LNG trade,” the fee “is only an additional element to all those that will decide if any cargo is canceled,” said Gonzalo De Arteaga.