Panama Canal delays new long term booking system to October

The new LoTSA for Neo-Panamax vessels was announced in August and due to be implemented for all vessel types from 1 September, however, some container lines asked for additional time to fully evaluate the new initiative.

As a result, the implementation of the new long-term booking system has been delayed to 1 October for all sectors of shipping apart from LNG and LPG tankers which will remain as originally announced on 1 September.

“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,” ACP said in a circular.

“The introduction of the Long-Term Slot Allocation Method for Neo-Panamax vessels, as part of the Transit Booking System, was developed to increase transit certainty and flexibility for our clients,” the authority added.

Under the new system a single customer of the canal will be able to make bids and obtain multiple bookings in a single transaction.

The sealed bidding process for the first calendar year period remains as previously announced and covers booking dates from 5 January 2025, to 3 January 2026.