Panama Canal announces updates to Transit Reservation System

Eda Zenic -

The Panama Canal Authority has issued advisory No. A-34-2024 introducing several important modifications to its Transit Reservation (Booking) System that will take effect between late 2024 and early 2025. These changes affect the allocation of transit slots, arrival time requirements for vessels with Transit Date Advancements, and maximum In-Transit Time (ITT) rules.

1. Changes to Slot Allocation for Panamax Plus Vessels:

  • Starting September 18, 2024, after the Neopanamax 2nd period tiebreaker competition, any conditioned slot that remains unallocated for booking dates starting on October 2, 2024, will be offered via a special auction.
  • This auction will be open to Panamax Plus and Neopanamax vessels during Booking Period 2, with a minimum bid of $100,000.
  • If the slot is not awarded in this auction, it will carry over to Booking Period 3 for another auction.
  • These conditioned slots will be governed by requirements laid out in Notice to Shipping N-07-2024.
  • Panamax Plus vessels can also acquire slots in Booking Period 3 via auction, continuing the system from prior advisories.
  • The rule from Advisory A-19-2024, which limits Panamax Plus vessels to one transit per day, will still apply.

2. Transit Date Advancement Service (TDA) and Arrival Time Rules:

  • Effective October 1, 2024, vessels with approved Transit Date Advancement must adhere to new arrival time requirements based on their vessel category:
    • Neopanamax and Panamax Plus vessels: Must arrive by 2200 hours (10 PM) on the day before the approved Transit Date Advancement.
    • Neopanamax LNG carriers: Must arrive by 0200 hours (2 AM) on the day of their Transit Date Advancement.
    • Supers and Regular vessels with restrictions: Must arrive by 0200 hours (2 AM) on the day of transit (2200 hours starting January 1, 2025).
    • Regular vessels without restrictions: Must arrive by 1400 hours (2 PM) on the day of their Transit Date Advancement.
  • Vessels that fail to arrive by these specified times will be charged a forfeiture fee. However, vessels may opt for the late arrival option, subject to an additional fee per the Official Maritime Services Tariff.
  • A Transit Date Advancement may be canceled without charge if the late arrival is due to circumstances outlined in Article 30 of the Navigation Regulation and further detailed in Notice to Shipping N-07-2024.

3. Changes to Maximum In-Transit Time (ITT):

  • Starting January 1, 2025, the maximum allowed ITT for vessels will be 24 hours. This applies unless otherwise determined by the Panama Canal Authority (ACP).
  • Vessels with slots awarded through the Long-Term Slot Allocation (LoTSA) Methodology will retain their 18-hour ITT limit.