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CPA plans hike on seaport rates
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Posted on Oct 12 2005
The Commonwealth Ports Authority is planning rate increases on wharfage and dockage to pay debts due to seaport infrastructure projects starting 2007.
According to a study by a Washington-based consulting firm hired by CPA, the ports authority initially scheduled a rate increase of wharfarge fees to $6 per revenue ton in 2007 through 2012. Currently, CPA assesses $5.75 per revenue ton against all cargo discharged or loaded on a vessel berthed at the port.
However, CPA may need to raise wharfage to $7 per revenue by 2010 in order to meet level of debt service coverage set by its bondholders.
CPA recently floated a $7.2-million bond to fund the concrete paving of the Port of Saipan container yard.
Increases are also being planned for the passenger fees, dockage fees, and entry fees at the CNMI seaports at a rate of 5 percent every five years starting 2007.
CPA is currently charging $8 for each terminating or arriving passenger on vessels originating outside or inside the authority’s ports.
Meanwhile, every vessel berthing at any of the authority’s ports is charged between $100 and $1035, depending on the vessel’s length.
Entry fees, which are charged against all but military and governmental vessels entering a CNMI port or refueling within the territorial waters of the Commonwealth, are currently at $110 for vessels under 1,000 gross registered tons and $220 for vessels over 1,000 gross registered tons. An additional charge of $200 is also assessed for larger vessels for each 2,000 GRTs or fraction thereof over 2,000 GRTs.
