The Panama Canal Authority has introduced a new booking system, the Long Term Slot Allocation (LoTSA), to regulate canal transit bookings, according to CMA CGM's release.
The system, effective 1 January 2025, will result in a significant increase in CMA CGM's operating costs.
Therefore, CMA CGM will impose a $40 per TEU surcharge for Far East cargo transiting the Panama Canal to the US East Coast and Gulf Coast, effective January 2, 2025, on specific routes including Chesapeake Bay Express (CBX), Gulf of Mexico Express (GMXP), Manhattan Bridge (MANB), Pacific Express 3 (PEX3), South Atlantic Express (SAX), Taiwan Strait (TWS), Vespucci Service (VESPUCCI) and Pacific Express 2 (PEX2).