LoTSA’s goal in the Panama Canal
Following the announcement of the implementation of the LoTSA methodology, Long-Term Quota Allocation Method for Neopanamax vessels, as part of the Transit Reservation System, several customers in the container ship market segment requested more time to properly evaluate this new initiative.
This Panama Canal initiative was developed to increase transit safety and flexibility for various customers of this company. Multiple transit slot reservation packages will be offered to different market segments, meaning a single customer will be able to get multiple bookings in a single transaction.
Although there are segments such as Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) that were left out, they have requested an extension to the implementation period of this methodology to thoroughly evaluate the benefits and repercussions.
Panama canal bidding and booking process
The bidding process in closed specifications for the first period of the calendar year, for the reservation dates between January 5 ,2025, and January 3, 2026, will begin with LNG and LPG, which will offer 6 to 8 reserve packages; container ships, with 7 reserve packages; and the rest of the segments, which will offer from 1 to 7 booking packages.
Sources
Pancanal. (n.d.). New allocation of quotas. Pancanal. https://pancanal.com/nueva-asignacion-de-cupos/
