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.
The sealed bidding process for the first calendar year period, covering booking dates from 5 January 2025 to 3 January 2026, will proceed as outlined in the following table:
| Market Segment | Number of Packages | Slots per Package | Auction Opening Date |
| LNG/LPG | 6 | 24 | 9 September 2024 |
| 18 | 12 | 11 September 2024 | |
| Full Containers | 7 | 104 | 1 October 2024 |
| All | 7 | 52 | 3 October 2024 |
| 1 | 6 | 7 October 2024 |
According to a statement, the information provided in Advisories A-25-2024 and A-29-2024 remains unchanged. The Panama Canal Authority reaffirms, as stated in Advisory to Shipping No. A-29-2024, the current customer ranking mechanism will stay in effect without any alterations at least until 31 December 2025.
Source: Container News
