Singapore-based Asian Shipowners' Forum (ASF) is urging the Panama Canal Authority (APC) to withdraw its scheduled toll increases for this year and next because they menace the future of the shipping industry and the canal users.
"The shipping industry is already struggling with the dismal global economic situation and Panama Canal toll increase would inevitably add an inordinate burden to all canal users who are part of the global supply chain including carriers, shippers and customers around the world," said the Asian shipowners.
The group is an organisation of the shipowners' associations from Australia, mainland China, Taiwan, Hong Kong, India, Japan, Korea and the Federation of ASEAN Shipowners' Associations comprising Brunei, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, according to the Shipping Gazette.