Panama Canal introduces new long-term slot allocation method
The Panama Canal announced that the new Long Term Slot Allocation (LoTSA) methodology will be implemented starting 1 October 2024, for all market segments except LNG and LPG.
The LNG and LPG segments will adhere to the previously announced date in Advisory to Shipping No. A-25-2024.
After the LoTSA methodology was announced, several customers in the full container market segment requested additional time to thoroughly assess the new initiative.
In response, the implementation date for these segments has been postponed to allow for greater participation and to ensure the success of the LoTSA methodology.
The Long-Term Slot Allocation Method for Neopanamax vessels, part of the Transit Booking System, was developed to enhance transit certainty and flexibility for clients.
This method will offer various transit booking slot packages to different market segments, allowing a single client to secure multiple bookings in one transaction.