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Panama Canal introduces new long-term slot allocation method

The Panama Canal announced that the new Long Term Slot Allocation (LoTSA) methodology will be implemented starting 1 October 2024, for all market segments except LNG and LPG.

The LNG and LPG segments will adhere to the previously announced date in Advisory to Shipping No. A-25-2024.

After the LoTSA methodology was announced, several customers in the full container market segment requested additional time to thoroughly assess the new initiative.

In response, the implementation date for these segments has been postponed to allow for greater participation and to ensure the success of the LoTSA methodology.

The Long-Term Slot Allocation Method for Neopanamax vessels, part of the Transit Booking System, was developed to enhance transit certainty and flexibility for clients.

This method will offer various transit booking slot packages to different market segments, allowing a single client to secure multiple bookings in one transaction.

The sealed bidding process for the first calendar year period, covering booking dates from 5 January 2025 to 3 January 2026, will proceed as outlined in the following table:

Market Segment
Number of Packages
Slots per Package
Auction Opening Date

LNG/LPG
6
24
9 September 2024

18
12
11 September 2024

Full Containers
7
104
1 October 2024

All

7
52
3 October 2024

1
6
7 October 2024

According to a statement, the information provided in Advisories A-25-2024 and A-29-2024 remains unchanged. The Panama Canal Authority reaffirms, as stated in Advisory to Shipping No. A-29-2024, the current customer ranking mechanism will stay in effect without any alterations at least until 31 December 2025.

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