The Panama Canal launched the Environmental Premium Ranking, a new initiative that rewards customers who meet high environmental efficiency standards.
The new incentive allows qualified customers the opportunity to improve their position within the Panama Canal’s Customer Ranking System, which is taken into consideration when booking for transit through the Panama Canal.
This latest initiative is part of the Canal’s Green Connection Environmental Recognition Program, which recognizes customers who demonstrate excellent environmental stewardship and to encourage others to implement technologies and standards to help reduce greenhouse gas emissions. The program encompasses both the Environmental Premium Ranking and Green Connection Award, which was launched in July 2016 to honor Canal customers who comply with the highest environmental performance standards set by the International Maritime Organization.
Here’s How it Works
The Environmental Premium Ranking will award customers with percentage points in the “number of transits” criteria when calculating the customer ranking. These additional points will allow customers to improve their position in the Customer Ranking System
In order for customers to receive this benefit, their vessels must meet at least one of the following requirements:
Vessels that qualify as “Level 1” will receive an additional 10 percentage points for each transit through the Canal towards their overall customer ranking, and vessels that qualify as “Level 2” will receive an additional 20 percentage points per transit to improve their rank.
The incentive will become effective for transits beginning January 1, 2017. Participation is optional. Interested vessel must request participation and deliver documentation, which supports the environmental efficiency rating at least 96 hours prior to the vessel’s arrival to Canal waters to the following email: email@example.com.
“With the addition of the Environmental Premium Ranking to our Recognition Program, we’re rewarding those who make conscious efforts to reduce greenhouse gas emissions and invest in technology that will make shipping even more efficient,” said Panama Canal Administrator Jorge L. Quijano. “We look forward to working with our customers and industry partners to further bring value to their businesses and to our route, all while reinforcing commitments to sustainability and environmental protection.