Panama Canal announces key changes to transit reservation tariffs and new slot allocation scheme

Eda Zenic -

The Panama Canal Authority has issued advisory No. A-31-2024, dated August 28, 2024, introducing several modifications to its Transit Reservation (Booking) System tariffs to enhance service efficiency, reliability, and predictability for its customers.

Long-Term Slot Allocation (LoTSA)

  • Start Date: September 1, 2024
  • Details: New tariffs for booking and canceling slots via LoTSA, with fees for cancellations at 100% of the slot fee.

Tariff Adjustments (Effective January 1, 2025)

  • Modifications: Changes to transit reservation fees, elimination of certain cancellation charges, and increased flexibility in swapping and substitution fees.
  • New Tariffs: Introduction of "Last Minute Transit Reservation" and a Vessel Scheduling Fee for non-standard bookings.
  • Discouraging Late CancellationsSurcharge: A 250% fee for no-shows to encourage better slot utilization.

Empathy-Based Management

  • Swapping and Substitution: Greater flexibility with no extra charges for swapping requests made up to 14 days in advance and retention of original reservation tariffs for substitutions.

New Last Minute Reservation Option

  • Purpose: Allows vessels without prior reservations to secure slots based on availability and vessel dimensions.

Vessel Scheduling Fee

  • Scope: Applies to vessels requiring special scheduling, excluding certain passenger ships and vessels of war.