French carrier CMA CGM is set to become the first major carrier to apply a new surcharge on shipments transiting the Panama Canal, in response to the ongoing capacity reductions.
The shipping line said the series of reduced capacity measures introduced by the waterway authority this year – and forecast to continue into 2024 – are pushing up its costs.
“The lack of precipitation over the summer has forced the Panama Canal Authority to reduce the number of vessels transiting a day. As a consequence, by 1 January, booking windows for transiting the canal’s neopanamax locks will be reduced by 30%.
“These restrictions, combined with an increase in the canal tariff implemented earlier in the year, are taking a severe toll on CMA CGM’s operations,” it said.
Read more in an article from The Loadstar.