Panama Canal Launches Long-Term Passage Slot Program

The Panama Canal has introduced a long-term program allowing clients to secure passage slots for 2024. Reservations begin in November, with bids for the initial six-month term accepted starting October 28. Three slots per day will be available, aiming to reduce waiting times.

The Panama Canal announced a new initiative on Monday, unveiling a long-term program designed to secure passage slots for clients in 2024. Reservations are set to open in November for companies wishing to capitalize on the newly available slots for container ships, gas carriers, and other vessels.

The Canal's advisory notes that those interested in the first cycle of slots, which accommodates transits from January to early July, must submit bids by October 28. This marks the second year of the implementation of the program, aimed at mitigating delays and enhancing transit efficiency through the critical waterway.

Under the scheme, three slots per day will be offered, with a subsequent six-month cycle to follow later in the year. The approach reflects ongoing efforts to streamline operations and bolster canal reliability amid increasing global maritime traffic.

(With inputs from agencies.)