Panama Canal introduces long-term slot allocation method for Neopanamax ships

Posted on August 14, 2024   |  

The Panama Canal Authority has introduced a new Long-Term Slot Allocation (LoTSA) Method for Neopanamax vessels to improve transit certainty and flexibility.

LoTSA will allow clients to secure multiple transit bookings for January of the following year in a single transaction.

These slot packages will offer a set number of transits on a weekly or monthly basis for both northbound and southbound routes.

Details of the available slot packages will be posted on the Panama Canal website under the Booking Slot Projected Availability section.

Slots will be auctioned off to the highest bidder through a sealed bid process, starting at a base price of $200,000 per slot.

Booking periods are categorized as Period 1 (90 days before transit), Period 1A (30 to 15 days before transit), Period 2 (14 to 8 days before transit), and Period 3 (7 to 2 days before transit).