Panama Canal to introduce long-term booking for Panamax transits
The Panama Canal Authority has announced a pilot program allowing long-term advance booking of transit slots through the Panamax locks for the first time, giving shipping companies greater predictability during the dry season.
The initiative expands the Long-term Slot Allocation program, known as LoTSA, which is already available to customers using the larger Neopanamax locks. The upcoming round will cover transits from January 3 to April 3 next year.
Bidding for Neopanamax slots during the three-month period is scheduled for November 17. A total of 36 packages covering 270 transit slots will be offered, including 165 northbound and 105 southbound passages.
A separate bidding round for the new Panamax pilot will take place on November 24, with 288 slots available across 51 packages. All slots will be awarded through sealed-bid competitions.
The authority said the program is intended to help customers reserve passages in advance and plan voyages and supply chains with greater certainty. The move is particularly relevant as the canal manages water availability under challenging climatic conditions.
According to CCTV+, remaining canal capacity will continue to be allocated through the regular booking system and auctions.
