The Panama Canal has announced that the new Long Term Slot Allocation (LoTSA) methodology will be implemented beginning 1 October.
This is applicable to all market segments except LNG and LPG, which will maintain the previously announced date.
Following the announcement of the LoTSA methodology, several customers from the full container market segment have requested additional time to properly evaluate this new initiative.
In response to these requests, the implementation date for these segments has been postponed, allowing for greater participation and ensuring the success of the LoTSA methodology.
The introduction of the LoTSA for Neopanamax vessels, as part of the Transit Booking System, was developed to increase transit certainty and flexibility for its clients.
Through this method, several transit/booking slot packages will be offered to different market segments, meaning a single client will be able to obtain multiple bookings in one transaction.
READ: Panama Canal increases draft and daily transits
The sealed bidding process for the first calendar year period for booking dates from 5 January 2025 to 3 January 2026, will be held as shown in the following table:
The Panama Canal Authority has reiterated that the current customer ranking mechanism will remain in effect and unchanged at least until 31 December 2025.
Earlier this month, the canal authority announced plans to increase the daily transit slots for vessels from the current 34 to 36 starting in September.
