1. Full Container Vessels

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Panama Canal Authority Toll Tariffs approved and published for implementation on April 1, 2016 Toll Calculation Examples by Market Segment

1. Full container vessels

 If a vessel with a total TEU allowance (TTA) capacity of 10,000 TEUs and 80 percent (80%) utilization of this total were to transit, applying the tariff approved in 2011 it would total $804,000 in tolls. The same vessel with the same parameters, applying the approved tariff for 2016 would total $780,000 in tolls.

 The same comparison of a vessel with a total TEU allowance (TTA) capacity of 10,000 TEUs, but with a 40 percent (40%) utilization of this total, the vessel transiting under the 2011 approved tariff would total $772,000 in tolls, a $32,000 variation when compared to the transit with 80 percent (80%) utilization and using the same tariff.

 If a vessel with a total TEU allowance (TTA) capacity of 10,000 TEUs and 40 percent (40%) utilization of this total were to transit, applying the 2016 approved tariff it would total $640,000 in tolls, a $140,000 variation when compared to the transit with 80 percent (80%) utilization and using the same tariff

 If a vessel with a total TEU allowance (TTA) within the TEU range of the panamax locks were to transit, however due to its dimensions (length, beam or draft) it requires transit through the neopanamax locks, it shall pay the appropriate fee of the neopanamax locks for ships under 6,000 TEU. The following example illustrates the difference in rate between ships of the same capacity:

o If a vessel with a total TEU allowance (TTA) of 4,700 TEUs were to transit with an 80 percent (80%) utilization rate having panamax dimensions for the panamax locks, the appropriate total TEU allowance (TTA) tariff that that would apply would be $60 and the TEU loaded with cargo tariff would be $30. This vessel would pay $282,000 corresponding to the vessel total TEU allowance (TTA) tolls and $112,800 for the TEU loaded with cargo tolls for a total tolls charge of $394,800.

o If a vessel with a total TEU allowance (TTA) of 4,700 TEU´s were to transit with an 80 percent (80%) utilization rate having neopanamax dimensions for the neopanamax locks, the appropriate total TEU allowance (TTA) that would apply would be $60 and the TEU loaded with cargo tariff would be $40. This vessel would pay $282,000 corresponding to the vessel total TEU allowance (TTA) and $150,400 for the TEU loaded with cargo tolls for a total tolls charge of $432,400.

1.1. Loyalty program for full container vessels

To illustrate, if we use the previous example of a vessel with an allowed capacity of 10,000 TEUs transiting with 80 percent (80%) utilization, it would pay the following tolls:

 Category 4: $500,000 based on the vessel capacity tariff and $280,000 based on the TEU loaded with cargo tariff, for a total tolls charge of $780,000.

 Category 3: $490,000 based on the vessel capacity tariff and $280,000 based on the TEU loaded with cargo tariff, for a total tolls charge of $770,000.

 Category 2: $480,000 based on the vessel capacity tariff and $280,000 based on the TEU loaded with cargo tariff, for a total tolls charge of $760,000.

 Category 1: $470,000 based on the vessel capacity tariff and $280,000 based on the TEU loaded with cargo tariff, for a total tolls charge of $750,000.

2. Dry bulk vessels

 Bulk carrier of 49,000 DWT, with 60 percent (60%) of total cargo in grains and transiting with a draft of 10.9 meters, would pay $128,710 since the rates would apply to the DWT bands under the panamax locks rate system based on the DWT capacity.

 A 165,000 DWT bulk carrier carrying 139,000 metric tons of coal with a draft of 14.9 meters transiting through the neopanamax locks would pay a total of $252,000, since the rates that would apply are based on the DWT capacity ($219,550) plus the variable rate based on the coal cargo carried in metric tons ($32,450).

3. Liquid bulk segment

3.1 Tanker vessels

 A Panamax/LR1 tanker vessel of 33,346 PC/UMS would pay $ 163,728 since the applicable PC/UMS band tariff for the panamax locks would apply.

 An Aframax1 tanker vessel of 46,136 PC/UMS carrying 60,000 metric tons of cargo that transits through the neopanamax locks, would pay a total of $238,892 as it will be applied the fixed tariff by PC/UMS bands for the

1 Aframax: refers to a vessel that has a deadweight between 80,000 to 120,000 tons.

neopanamax locks ($221,892) and the variable tariff by bands of metric tons of cargo applicable to the total cargo carried ($17,000).

3.2 Chemical tanker vessels

 Chemical tanker vessel, laden condition with 24,000 PC/UMS tons would pay $125,920 in tolls since the applicable PC/UMS band tariff for the panamax locks would apply.

3.3 LPG Gas Carrier vessels

 LPG gas carrier of 57,618 cubic meters of cargo capacity, laden, would pay $148,212.40 since the laden tariff by bands of cubic meters will be applied.

3.4 Establishment of LNG gas carrier segment

 LNG Gas carrier of 173,000 cubic meters capacity, laden, would pay $380,480 since the laden tariff by bands of cubic meters will be applied.

 LNG gas carrier ship of 173,000 cubic meters capacity, in ballast, would pay $334,830 because the ballast tariff by bands of cubic meters will be applied;

 LNG gas carrier of 173,000 cubic meters capacity, round trip, would pay $380,480 for the laden portion, since the laden tariff by bands of cubic meters will be applied and $300,000 for the return in ballast because the roundtrip ballast tariff by bands of cubic meters will be applied, if the transit in ballast through the Panama Canal is made within sixty days after the laden transit was completed.

4. Vehicle carriers and Ro-Ro vessels

 A Ro-Ro vessel with 16,781 PC/UMS, a deadweight tonnage (DWT) of 30,127, carrying 18,995 metric tons of cargo, which represents sixty three percent (63%) of utilization (load factor), would pay $87,429.

 A vehicle carrier vessel with 55,536 PC/UMS, a deadweight tonnage (DWT) of 21,224, carrying 7,591 metric tons of cargo, which represents thirty six percent (36%) of utilization (load factor), would pay $241,026.

5. Passenger vessels

 Passenger vessel with 2,400 berths, carrying passengers, would pay $331,200 as tariffs per berth in the panamax locks are applied.

 Passenger vessel with 4,000 berths, carrying passengers, would pay $592,000 as tariffs per berth in the neopanamax locks are applied.

 Passenger vessel with a gross tonnage of 30,270, maximum passenger capacity of 777 and a PC/UMS tonnage of 26,982 in laden condition. The relation (PCUMS/PAX)=26,982/777 is 34.7%. This vessel would pay $125,977.56, as PC/UMS bands for laden vessels are applied.

 Passenger vessel with a gross tonnage of 22,496, maximum passenger capacity of 650 and a PC/UMS tonnage of 18,748 in ballast condition. The relation (PCUMS/PAX)=18,748/650 is 28.8%. This vessel would pay $70,642.56, as PC/UMS bands for vessels in ballast are applied.

6. Refrigerated cargo, general cargo, others segments and displacement

 Reefer vessel with 11,500 PC/UMS and carrying 300 TEUs on deck, would pay a total of $77,695, of which $50,695 are based on PC/UMS capacity and $27,000 are based on the TEUs carried on deck.

 General Cargo vessel with 20,000 PC/UMS and carrying 245 TEUs on deck, would pay a total of $125,950, of which $103,900 are based on PC/UMS capacity and $22,050 are based on the TEUs carried on deck.

 Container break-bulk vessel, as part of “others” segment, with 25,000 PC/UMS and carrying 400 TEUs on deck, would pay a total of $176,650, of which $140,650 are based on PC/UMS capacity and $36,000 are based on the TEUs carried on deck.