It is reported that the Panama Canal Authority (PCA) is planning a green transformation, which will increase the cost of passing the canal, and last week the Suez Canal announced a 6% increase in the price of ships passing through the canal from February next year. of charges.
It is understood that the PCA stated at the COP26 conference in Glasgow on November 6 that it will launch a US$70 billion long-term development plan to make the Panama Canal operational by 2050. Achieve zero carbon emissions every year.
PCA climate expert Alexis Rodriguez said: “In the short term, we will continue the reforestation program, which has already absorbed 1 billion tons of carbon dioxide, and we will use it to offset the carbon emissions from the canal, but we will not trade those emissions.”
Part of the plan is to develop clean energy for port and canal operations, including to help ships transit the canal vehicles and tugs.
One of the main issues with the canal is the need for high-powered tugboats, known as high bollard pull, to move and maneuver larger vessels .
The PCA believes that a plan to support the development of green hydrogen, using solar and wind technology as energy storage systems for tugboats and port vehicles, would be cost-effective and would allow the Panama Canal to Become a zero-emission facility in line with Paris targets by 2050.
In the replacement plan, 85 replacement tugboats will be available to guide ships through the locks once clean energy becomes available.
Rodriguez acknowledged that the cost of the decarbonization plan would result in toll increases, saying that while customers would pay more to transit the canal, operations would be more climate-friendly.
In addition, the PCA announced that it will implement a “differentiated tariff plan”, which will provide a green premium for less polluting ships and charge lower prices to reduce greenhouse gas emissions. .
Given that these charges apply to the vessel and are paid by the operator, it is likely that these charges will be shared among the owners of the cargo on board and ultimately passed on to consumers.
“We are committed to the decarbonization process,” Rodriguez explained, acknowledging that shippers and consumers will have to pay for the green transition. But he believes the move is crucial for the planet.
Last week, the Suez Canal Authority also announced that starting from February next year, charges for all ships except cruise ships and liquefied natural gas fuel ships will increase by 6%.
Suez Canal Authority Director Osama Rabea said: “When considering raising rates, they carefully observed and reviewed all factors related to shipping markets, global economic indicators, and global trade trends. variables. Taking into account global economic conditions, they seek to adopt a balanced, flexible marketing and pricing strategy that serves the interests of the Authority and its customers.”</p
