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Ministries of Finance and Transport: Port fees reform will be spread out over ten years

The reform proposes basing port fees on the cost of providing the services and the cancellation of cross subsidies between export and import cargos
24.09.07 / 00:00
Ministries of Finance and Transport: Port fees reform will be spread out over ten years
24.09.07
Ministries of Finance and Transport: Port fees reform will be spread out over ten years

The reform proposes basing port fees on the cost of providing the services and the cancellation of cross subsidies between export and import cargos
 
The Ministry of Transport published last week the long awaited policy paper describing port fees reform.
 
The reform, which is slated to begin in January 2008, is designed to simplify the current fees structure, in which the wharfage fees are calculated as a percentage of the CIF (Cost Insurance & Freight) value of the imported cargo (1.02% with a maximum of US$250 per metric ton) and FOB (Free On Board) value of the exported cargo (0.2% with a maximum of US$250 per metric ton).
 
The reform proposes basing port fees on the cost of providing the services and the cancellation of cross subsidies between export and import cargos.
 
Under the new price structure, the fee for imports and exports will be equalized, and amount to a fixed 0.2% of the cargo value. An exception will be for the import of cars, for which the wharfage fee will stay unchanged.
 
It was made known that the Ministries of Finance and Transport decided that the reform in the ports’ fees will be spread out over ten years, instead of the five originally planned.
 
Sources at Israel Ports Development & Assets Company Ltd. believe that the decision to extend at the last moment the time frame for implementing the reform is intended to obtain the support of the Manufacturers Association of Israel and large manufacturers, who have already declared their opposition to the rapid slashing of import fees at the expense of a corresponding increase in export fees.

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