Panama Canal to implement a new long-term slot allocation methodology from October 1, 2024, except LNG and LPG
The Panama Canal announced, through an Advisory to Shipping No. A-30-2024, that the new Long Term Slot Allocation (LoTSA) methodology will be implemented beginning October 1, 2024, for all market segments except LNG and LPG.
The LNG and LPG market segments will maintain the previously date announced on the Advisory To Shipping No. A-25-2024.
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 to ensure the success of the LoTSA methodology.
The introduction of the Long-Term Slot Allocation Method for Neopanamax vessels, as part of the Transit Booking System, was developed to increase transit certainty and flexibility for the 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.
Panama Canal Authority reiterates as announced on the Advisory to Shipping No. A-29-2024 the current customer ranking mechanism will remain in effect and unchanged at least until December 31, 2025.
