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The Panama Canal Authority announces modifications to the Transit Reservation (Booking) System rules for the slot allocation to Panamax Plus vessels, the Transit Date Advancement Service and the In-Transit Time (ITT) for booked vessels.
Effective September 18, 2024, after the Neopanamax 2nd period tiebreaker competition, if the conditioned slot has not been allocated for booking dates beginning October 2, 2024, the slot will be offer through a special auction to Panamax Plus or Neopanamax vessel during the Booking Period 2. If the slot was not awarded through this auction, it will be carried over to the Booking Period 3. The minimum bid amount for the auction will be one hundred thousand US dollars. The requirements for the conditioned slots may be found in the Notice to Shipping N-07-2024. Panamax Plus vessels may also obtain booking slots through auction in the Booking Period 3 as previously published. The rule published in the Advisory A-19-2024 regarding the limitation of one Panamax Plus per transit date remains in effect.
In reference to the Transit Date Advancement, the service will be considered as having been provided once the vessel arrives at the first set of locks on the approved date for the Transit date Advancement, regardless of the In-transit-time (ITT).
Additionally, for transit dates beginning October 1, 2024, vessels from all three categories with an approved Transit Date Advancement will have the following arrival time requirements:
Vessels that fail to arrive at the Canal terminal by the required arrival time will be assessed a forfeiture fee and may elect to maintain their Transit Date Advancement by requesting the late arrival option, subject to the payment of an additional fee as per Official Maritime Services Tariff. A Transit Date Advancement may be canceled without charge or may waive assessment of a penalty fee if the vessel’s late arrival was due to the reasons mentioned in article 30 of the Regulation on Navigation in Panama Canal waters, and further explained in the Notice to Shipping N-07-2024.
Effective with tiebreaker competition at the opening of Booking Period 1 on October 3, 2024, for booking dates beginning January 1, 2025, the maximum In-Transit Time (ITT) will be 24 hours, except as determined otherwise by the ACP. Vessels with booking slots awarded through the Long-Term Slot Allocation (LoTSA) Methodology will maintain the 18-hour ITT rule.
(For information abut operations in Panama, contact GAC Panama at [email protected])
Source: Panama Canal Authority Advisory To Shipping No. A-34-2024 dated 17 September 2024