特朗普威胁“收回”巴拿马运河, 通行成本持续上升引关注

此文章为英文原版内容，可使用微信的“全文翻译”功能转换为中文阅读，功能使用方法可参照文末示意图

US president-elect Donald Trump's threat on Saturday to reclaim the Panama Canal for the US put a spotlight on rising costs this year and additional fees planned by the Panama Canal Authority (ACP) for 2025 in the ongoing fallout of a 2023 drought in Central America.

Trump claimed that the US is the "number one user" of the Panama Canal, with "over 70pc of all transits heading to, or from, US ports" on 21 December. ACP data for ships destined for or departing from the US puts this percentage at 73pc in 2023 and 75.5pc in 2024 based on total tonnage of commodities moved through the canal.

"This complete ‘rip-off' of our Country will immediately stop…" Trump said.

The base transit tolls at the Panama Canal have been on the rise and are largely in line with those at the Suez Canal, but Panama Canal costs can be much higher for vessel operators that compete in auctions to enter the Central American passageway.

The operator of a medium range (MR) tanker traveling laden through the Panama Canal would pay $279,564.87 in transit fees, while the operator of a laden very large gas carrier (VLGC) would pay $505,268.24 without accounting for reservation costs, ACP estimates. Suez Canal fees have also been on the rise, with MR tanker at $274,001 throughout 2024, while a VLGC operator would pay $487,562.

But after last year's drought caused the ACP to temporarily limit transits, ACP required shippers to book transit reservations. Shippers unable to secure reservations via pre-booking often resort to the transit slot auction, where winning bids vary wildly.

Pre-booked transit slots often quickly sell out to the containership and LPG vessel owners that dominate the top spots on the ACP's client list.

Auction prices for the Neopanamax locks, which have a starting bid of $100,000 and handle large vessels like VLGCs, are at about $220,000, per Argus assessments. Auction prices for the Panamax locks, which have a starting bid of $55,000 and handle vessels like MR tankers, are around $75,000. The highest Neopanamax auction price was nearly $4mn, with the highest Panamax auction price at about half that level.

In December 2023, 30pc of Panamax lock tanker transits were reserved via the auction system, according to ACP.

The president-elect's criticism of the ACP's handling of Panama Canal fees comes as the administrators of the waterway bounce back from a severe drought throughout 2023. Freshwater levels in the manmade Gatun Lake that helps to feed the canal have recovered because of the return of the rainy season this year, but ACP has maintained its requirement that shippers wishing to transit have reserved transit slots. Prior to the drought, ACP maintained a first-come, first-serve basis for vessels without reservations.

ACP ups reservation costs, adds fees for 2025

Starting in 2025, ACP is maintaining the auction system while also increasing pre-booking costs and adding other fees.

ACP will raise transit reservation fees from $41,000 to $50,000 for Panamax lock transits for "Super" category vessels, including MR tankers. Neopanamax lock transit reservation fees will climb from $80,000 to $100,000 on 1 January.

ACP announced a third transit option in late 2024 for vessel operators in the form of the "Last Minute Transit Reservation" (LMTR) fee to start 1 January 2025 alongside other new fees and higher existing reservation fees.

ACP set the cost of the LMTR fee at about twice the starting bid of an auction, or $100,000 for Supers and $200,000 for Neopanamax, and will likely offer the LMTR fee to vessels that fail to secure a transit slot at auction.

Furthermore, vessel operators that cancel within two days of their transit will be charged a fee at 2.5 times the transit reservation fee, described by the ACP as a surcharge to the existing cancellation fee, which ranges up to 100pc of the transit reservation fee depending on how close to the transit date that an operator cancels.

This means that a Super vessel that cancels within two days of its transit date will receive the 2.5 times surcharge on top of the 100pc transit reservation cancellation fee and pay a total of $175,000. A Neopanamax vessel will pay a total of $350,000.

"Vessels of war" should also vie for slots: ACP

Trump also suggested that the ACP was charging the US Navy, alongside US corporations, "exorbitant prices and rates of passage" and that these fees were "unfair and injudicious".

In March 2024, the ACP published an update on transit slot assignments for vessels of war, auxiliary vessels and other "government-owned" vessels encouraging their operators to participate in the transit system rather than waiting for the ACP to assign them a slot.

"Vessels of war, auxiliary vessels, and other government-owned vessels are encouraged to obtain a booking slot through the available booking mechanisms in order to have their transit date guaranteed and minimize the possibility of delays," the ACP said.

The ACP points out that these vessels of war are entitled to "expeditious transits" based on the Treaty Concerning Permanent Neutrality and Operation of the Canal and are technically not required to obtain a reservation to be considered for transit.

Panama president Jose Raul Mulino on Sunday rejected Trump's threat to retake the canal, which has been under full control of the Central American country since 1999. The canal's rates are established in a public and transparent manner, taking into account market conditions, Mulino said.

"Every square meter of the Panama Canal and its adjacent area is Panama's and will continue to be," Mulino said. "The sovereignty and independence of our country are non-negotiable."

全球LPG市场价格、预测和分析

阿格斯独立评估的LPG价格广泛用于现货交易及纸货交易的参考基准，可用于按市值计价、税务评估、风险管理、策略分析及战略规划的标杆价格。

全球液化石油气(LPG)和天然气凝液(NGL)市场的重要价格评估、动态、市场分析、基本面数据、价格预测、供求情况和贸易信息都可以从阿格斯发布的各种市场报告中获取。

长按识别二维码

申请试阅 了解更多

[ 新指数 ]随着LPG需求日益增长，市场急需一个反应中国情况的进口价格指数，因此阿格斯与中国企业共同探讨，推出了丙烷及丁烷宁波到岸价指数(ANI)，每日发布在《阿格斯全球LPG市场日报》中。

[ 新报告 ] 精编中文版阿格斯全球LPG市场日报为用户提供亚洲、中东、美国的LPG实货、衍生品交易价格和市场评论。

点击阅读原文 申请报告试阅