During the holidays, CPA’s management completed the final assessment and is now ready to present the final recommendation to the board, he said yesterday.
“We are going to be implementing this new rate within this month,” he added. “The board will review and approve [the new rates] possibly next week.”
He did not disclose the new fee figures, but he admitted that these will be a “significant amount” for CPA’s stakeholders.
Earlier, CPA disclosed that BST Associates, its seaport bond consultant, recommended a 20 percent hike, while another consultant, Ricondo Associates, proposed a 5 to 10 percent hike in airport fees.
A “minimal” fee increase was enforced at the airport between November and December.
Camacho said the fee hike for the seaport activities will be shared and discussed with the stakeholders before it is implemented.
CPA collects the following seaport fees: wharfage, home port, entry and dockage.
For wharfage, CPA collects $6 per revenue ton, and this amount is expected to increase to $7.20 based on the 20 percent hike.
The three other fees are collected depending on the weight and length of the vessels accommodated at the harbor.
Camacho said the fee hike is in line with CPA’s efforts to meet its bond obligation amid the low traffic of inbound and outbound cargoes at the local seaport.
