Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Change in Panama Canal auction rules

Photo: ACP 2023- NEW NEOPANAMAX LOCKS[54].jpg
The Panama Canal Authority (ACP) has announced the suspension of two special auctions for supers size vessels from 12 - 30 September 2023.

“Booking slots that become available due to cancellations or other reasons during Booking Period 3 for supers will continue to be offered through extraordinary auctions,” ACP said in notice.

With congestion on the Panama Canal due to low water levels auctioned slots have soared in value with one vessel reported to have paid $2.4 million at for a transit slot auction in late August.

​​​Inchcape Shipping Services reported that for supers that were already awarded but become available within 96 hours from the booking date due to cancellations, changes in date, early transit of booked vessels, or other reasons, will be offered during the 3rd Booking Period through an extraordinary auction process. It said he auction will be offered after the closing of the 3rd Period competition.

For  special auctions it said one slot would be offered, once all the normal booking slots have been allocated. This slot will be offered after the first auction has been awarded.

“Second slot will be offered, before the closing of the 3rd Booking period, if all slots for supers in one direction have been allocated but there are still booking slots available in the opposite direction, the slot may be offered to interested vessels through an auction, even if the assignment of the slot exceeds the established,” the ship agency said.