THE Panama Canal Authority will levy a new prepaid slot allocation (LoTSA) for neopanamax vessels and also increased their booking fee from January, reports the American Journal of Transportation.

To recover this cost and keep providing services transiting through the canal, CMA CGM will implement a Panama Canal Transit surcharge from January on the following trades in/out South America West Coast:

From the Caribbean, South America East Coast, North Europe, Mediterranean, Africa, Indian Ocean, Middle East, Red Sea & Indian Subcontinent via the Panama Canal to South America West Coast on all cargo the surcharge will be US$150 per TEU.

From South America West Coast via the Panama Canal to the Caribbean, South America East Coast, North Europe, Mediterranean, Africa, Indian Ocean, Middle East, Red Sea & Indian Subcontinent on all cargo the surcharge will be US$150 per TEU.

From the Far East via the Panama Canal to the Caribbean the surcharge will be US$150.