The Panama Canal Authority (ACP) has increased tolls on laden containerships from today's US$49 per TEU to $54 as of May, then to $63 in 2008 and to $72 in 2009.

Reefer tolls will rise from $2.96 per PC/UMS to $3.39 (October) and $3.80 (2008 and 2009).

According to ACP Administrator Alberto Aleman, the new prices will allow the authority to make investments and expand the capacity of the canal through the construction of a third set of locks at a cost of $5.25 billion.

The ACP will hold a public hearing on its proposal on March 14.