MSC has announced it will implement a Panama Canal Surcharge (PCS) for cargo from Asia to the Caribbean transiting the Panama Canal.

Panama Canal Surcharge (PCS): US$297 / container

The new surcharge will be effective from 15 December.

"During the second quarter of 2023, the Panama Canal Authority decided to reduce the draft from 14.94 to 13.41. Despite several measures to conserve water taken over the last months, the lack of precipitation in the area is affecting the water level of the Panama Canal. Consequently, the Panama Canal Authority has recently confirmed further restrictions regarding the number of vessels crossing the canal," said MSC in a statement.

The company noted that these restrictions, combined with the increase of the Canal Tariff implemented earlier this year, are having a direct impact on overall MSC operations costs.