Panama Canal Tweaks Payment System to Help Ships During Coronavirus

The Panama Canal said on Wednesday it would make a temporary change to the payment system for ships booking passage through the waterway in order to offer more flexibility to customers affected by the coronavirus outbreak.

"As of May 4, 2020, the interoceanic highway will implement temporary changes to the requirements for making reservations and the advance payment of reservation fees upon confirmation," the Panama Canal Authority (ACP) said in a statement.

Ships have hitherto had to pay fees within 48 hours of making reservations to transit. Now ships will be able to settle the charge up until when they enter the canal, the ACP said.

The measure would take effect for 120 days and remain in place until Sept. 1, the authority said.

(Reporting by Elida Moreno; Editing by Leslie Adler)