The Panama Canal has updated its long-term slot allocation program for vessels, LoTSA 2.5, to offer greater flexibility regarding dates and reservation times. The slot allocation process will take place on April 28, 2026, while the program's implementation will begin on May 16. According to Yumiko Casiano, supervisor of the Canal's revenue management team, LoTSA is simply a method for the Canal to assign reservation slots, designed to provide greater certainty to customers. Casiano explained that the system arose from the users' need for more predictability in their operations. "Many customers approached us to tell us that it was very important for them to have the certainty that they would be able to transit within a specific period," she stated, highlighting that this scheme allows for planning contracts and logistics operations with greater confidence. The new version of the LoTSA 2.5 program, published by the Panama Canal Authority (ACP), incorporates changes aimed at offering greater flexibility in transit management. Among the main novelties communicated by the ACP to clients is the possibility of deferring slots to the following month for container ships, as well as the option to request advance transits—known as Transit in Advance (TIA)—for segments such as vessels carrying liquefied natural gas (LNG) and liquefied petroleum gas (LPG), subject to operational availability. The new version of the program also changes the structure of slot packages, adjusting the offer between fixed and flexible modalities. "We decreased the number of flexible packages because we realized that in the previous offering, customers went more for the fixed packages," explained Casiano, referring to the users' preference for more predictable schemes. The scheme also introduces adjustments in space allocation, which will now be redistributed according to the contracted package type and transit direction. Additionally, a closed-bid auction system will be implemented in 30-minute cycles to expedite the process and improve competitiveness in slot allocation. "That way, the customer who does not get a package in the fixed option can opt for the flexible packages," she detailed. According to the ACP, LoTSA 2.5 maintains its focus on Neopanamax vessels and the long-term advance allocation of transit slots, which allows customers to plan their logistics operations with greater predictability. The program features a shorter reservation horizon, maintaining the six-month duration, which in this case will cover from July 5, 2026, to January 2, 2027, with an average of three slots per day. In terms of operational flexibility, the ACP will allow a greater number of requests for date changes, although subject to fees. In this case, Casiano explained that the program expands the options to defer or advance slots, allowing clients to adjust their logistics needs according to demand. "That is what has been allowed now… that they can defer or advance more than one slot per month," indicated the specialist. In the case of tankers with monthly slots, clients will be allowed to use up to four slots per month between reserved, deferred, and advanced slots, she explained. Likewise, the conditions for cancellations remain more defined: those made with at least 15 days' notice will imply an 80% charge of the offered value. For users, the main value of the program continues to be predictability. "The main value that LoTSA has is the certainty that they have a slot to transit within a specific period," affirmed Casiano, who added that flexibility and personalized support have also been key factors in the adoption of the system. The entity highlighted that these adjustments seek to optimize client logistics, reduce waiting times, and improve service reliability, in a context of growing dynamism in global maritime trade. The reservations will cover the period from July 2026 to January 2027.
