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ICS disappointed in Panama Canal Authority

International Chamber of Shipping criticizes Panama Canal Authority for trying to raise prices in the channel while the shipping industry is struggling to stay alive.

Photo: Hamburg Süd

International Chamber of Shipping (ICS) is pleased that Panama Canal Authority (PCA) has given the shipping industry more time to prepare for the increases by moving the scheduled implementation dates to October 2012 and October 2013. At the same time, the organization is disappointed that many of the ICS’s former points have gone unanswered.

“This is especially our observation that the effects of the increased prices on the shipping companies themselves were not taken into account, including other increases related to the use of the Panama Canal in spite of the fact that many of the sectors affected by the increases are struggling to survive in a weak market,” writes the ICS in a comment to the PCA.

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