Toll Transits across Panama Canal
Toll collection is extremely important for the operation and development of the canal and the country. A lot of tourists are eager to learn the toll fares of Panama Canal and the working principle of the canal system.
When the tourists arrive at the canal, they see a number of small and large ships that are either awaiting transit or are passing through the locks. The first question that comes in the mind of most of the traveler’s is the toll at Panama Canal, and the overall operation of the ships over the canal. Many people also take an opportunity to travel and swim in the canal and the artificial lake.
The Panama Canal Authority decides the toll which varies according to the size and type of the ship as well as the cargo that is transported in it. The revenue that is produced by the canal is extremely necessary for the county’s development hence, the citizens voted for the expansion plan of the canal. A toll for a container ship is assessed as per the ship’s capacity that is expressed in TEU’s (Twenty feet Equivalent Unit). The toll per TEU is US $ 72. The toll is calculated differently for container ships and passenger ships. During the 8-10 hours of journey a cruise ship may pay over US $ 300,000. In 1928, an American took an opportunity to swim across the canal by paying just 36 cents.
Although, the recent hike in the Panama Canal toll depressed many Panama Canal customers including governmental organizations and influential businesses, but the authorities made it clear that the hike was mainly for the development and the expansion of the canal, which will bring more facilities and benefits for their customers. If compared, the raised toll is actually quite cheaper than the actual travel expense and the time required for the long route. This canal is extremely convenient for most of the ships especially, for the shipping between New York and Japan or between San Francisco to England.