Panama modifies incentives for homeporting cruise ships
Posted on 2020-01-30
Panama made modifications to the reimbursement plan for Panama Canal transits by cruise lines that establish homeport operations in the country,
These incentives were announced by the Panama Tourism Authority in June 2019.
New policy details
As now modified, for operations during 2020, a 100% refund of the Canal toll will be provided for lines that show 80% of passengers embarked in Panama are international.
The refund goes to 90% in 2021, 80% in 2022, 70% in 2023 and 60% in 2024. In all cases, 80% of the passengers embarked in Panama must be international.
The new policy is found in Executive Decree 73 by the Ministry of Commerce and Industry, published in the National Gazette on Friday.
Promotion of Panama products
The decree also establishes that the Ministry of Commerce and Industry will promote the provisioning of Panamanian products to the lines.
And the decree outlines the process cruise operators need to follow to be reimbursed for their Canal transits. The Panama Tourism Authority is to provide the refund no later than 12 months following the documented transit.