THE Panama Canal has announced changes to the Transit Reservation System for neopanamax vessels, effective October 1 to increase efficiency, flexibility and reliability of its service to all customers
THE Panama Canal has announced changes to the Transit Reservation System for neopanamax vessels, effective October 1 to increase efficiency, flexibility and reliability of its service to all customers. The booking modifications are a step in a positive direction for the neopanamax locks and take into consideration the lifting of certain navigation rules for liquefied natural gas (LNG) vessels.
There is also an ongoing customer feedback, as well as routine analysis of the utilisation and fair market value of the expanded canal, the canal authority said.
'We are fully committed to understanding and meeting the ever-changing needs of the global shipping community,' said canal administrator Jorge Quijano. 'These changes, guided by input from our customers, strategic planning and years of experience, are an essential next step in ensuring the continued availability of the canal for all.'
Currently, ships may transits during three booking periods determined by the days before the requested transit date.
But adjustments will introduce a new booking period within the first booking period, called booking period 1.a, accompanied by modifications to the duration and slot allocation within each booking period.
These changes will also include a transition period for those LNG vessels that have already obtained slots during the current booking period 1, which will allow customers to release them without being charged a cancellation fee.
The total slots available for neopanamax vessels and priority for certain market segments will remain unchanged. But by tailoring the reservation process, along with restructured cancellation fees for current LNG carrier practices, the canal aims to curb unused reservations, thereby improving slot utilisation.
