The Panama Canal has revealed the implementation of the Long Term Slot Allocation (LoTSA) methodology, set to commence on 1 October 2024, applicable across all market segments with the exception of LNG and LPG. The latter segments will follow the schedule outlined in Advisory to Shipping No. A-25-2024.
Following the announcement of LoTSA, requests for an extension were made by numerous clients within the full container sector, aiming for a comprehensive evaluation of the initiative. Consequently, the implementation for these sectors has been deferred to foster wider participation and the successful integration of the LoTSA methodology.
Designed to augment transit certainty and flexibility for its clientele, the LoTSA system, a component of the Transit Booking System for Neopanamax vessels, will facilitate the acquisition of multiple transit booking slots in a singular transaction through a variety of slot packages catered to diverse market segments. The inaugural sealed bidding process, targeting the booking period from 5 January 2025 to 3 January 2026, is scheduled to proceed as initially planned.
Source: ContainerNews