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Panama Canal Authority updates Transit Reservation System Tariffs
Posted on September 9, 2024 |
The Panama Canal Authority has introduced the Long-Term Slot Allocation (LoTSA) method as part of its updated Transit Reservation System.
These updates aim to enhance service levels, better balance supply and demand, and streamline transit operations.
The new LoTSA tariffs will start on 1 September 2024, with additional tariff changes and adjustments beginning on 1 January 2025.
The changes offer more flexibility for switching slots and using substitute services.
New fees are introduced to discourage last-minute cancellations and provide options for vessels without reserved slots but already in Canal waters.
The overall goal is to maximize Canal capacity and reduce vessel waiting times.