ACP Extends Cost Reduction Program

The Panama Canal Authority (ACP) announced on October 1 that it will continue until April 30 2010 a program that provides short-term cost reduction and greater flexibility to its Reservation System. The program which consists of temporary measures designed to help mitigate the impact of the economic crisis on the Canal’s clients was the result of consultations with customers and was initially introduced June 1 2009 for four months ending September 30. Upon request of its customers and the Round Table of International Shipping Associations the ACP has agreed to extend the program.