Panama Canal Authority Unveils 2011 Toll Increases

The Panama Canal Authority has approved a proposal to increase tolls beginning in January of next year.

“This proposal, which considers the national interest, has been analyzed in depth with the aim of assuring that the recommended tolls maintain the competitiveness of the waterway and its strategic roll in foreign trade in user countries,” said Panama Canal Authority administrator Altro Aleman Zubieta.

The increase in tolls will help finance the canal’s $5.25 billion expansion, which is due for completion in 2014.

The consultation period will run through May 27.