Panama Canal postpones new long-term booking system to October

Implementing the new Long-Term Slot Allocation (LoTSA) system for Neo-Panamax vessels has been postponed to October. Initially announced in August, the system was set to be introduced for all vessel types on September 1. However, several container lines requested additional time to fully assess the initiative. As a result, the launch has been delayed to October 1 for all shipping sectors except LNG and LPG tankers, which will proceed as planned on September 1.

In a circular, the Panama Canal Authority (ACP) stated that in response to these requests, the implementation date for these segments has been postponed, allowing for greater participation and ensuring the success of the LoTSA methodology. The authority also noted that the LoTSA system, part of the Transit Booking System, was designed to enhance transit certainty and flexibility for their clients.

The new system will enable a single customer of the canal to place bids and secure multiple bookings in one transaction for transit through the Panama Canal. The sealed bidding process for the first calendar year period, covering booking dates from January 5, 2025, to January 3, 2026, will proceed as previously scheduled.