The Panama Canal updated the criteria for reallocating transit slots that are canceled or become available during booking periods 1A and 2 at the Neopanamax locks.
The changes take effect immediately and restore the allocation criteria that was in place prior to July.
Key takeaways:
· Available slots during these periods will be offered through a special allocation process with priority given in the following order: Container ships, liquefied natural gas (LNG) carriers, liquefied petroleum gas (LPG) carriers, and vehicle carriers or roll-on/roll-off (RoRo) vessels. Within each vessel segment, Transit TEU Allowance (TTA) capacity will serve as the primary tiebreaker, where applicable.
· The Panama Canal also updated the eligibility requirements for vessels transiting the waterway for the first time to participate in the NetZero program. The initiative aims to continue supporting and encouraging investment in low-carbon, energy-efficient vessels.
· Under the updated requirements, vessels must undergo a preliminary tonnage inspection conducted by the Panama Canal's Admeasurement Unit. To streamline participation in the program, these inspections may now be executed outside Panama.
· Beginning Nov. 1, vessel owners, operators or authorized agents may request a preliminary inspection before their vessels arrive in canal waters. This will allow the Panama Canal to obtain the information needed in advance to calculate tolls, determine vessel tonnage under the Panama Canal Universal Measurement System (PC/UMS), identify engine types, and verify other requirements for participation in the NetZero program.
