The Panama Canal is opening up for the first time its long-term transit booking program to smaller Panamax locks, on top of the scheme already offered for its Neo-Panamax locks.
The Panama Canal Authority (ACP) has announced the start of a new phase of its Long-Term Slot Allocation Program, LoTSA 3.0, for the period 3 January to 3 April 2027. The Neo-Panamax locks will continue to offer the possibility of advance reservations under the scheme and a pilot program will be started for the Panamax locks.
Launched in September 2025, LoTSA allows customers to book transit slots in advance of the dry season. The initiative is meant to provide customers with more certainty in planning vessel itineraries and managing their logistics needs.
The ACP said it will distribute the slots in sealed-bid auctions. Participants also have access to a dedicated customer service team that is set up to offer timely help and make the booking process easier.
The new LoTSA Panamax pilot program auction will be held on 24 November 2026, and the LoTSA Neo-Panamax program auction will be held on 17 November 2026.
The program will see 36 slots representing a total of 270 berths, 165 northbound and 105 southbound, under the Neo-Panamax. They will be handed out at the rate of three berths a day in the various slots.
The new Panamax pilot will offer 51 packages with a total of 288 slots, 147 northbound and 141 southbound. This will be equivalent to three slots per day over the period of the program and will represent a single level of flexibility.
The Panamax packages will also be awarded in a sealed-bid auction. ACP said the pilot will have the same allocation mechanism, selection criteria and tie-breaking rules as under the LoTSA Neo-Panamax program.
Any capacity not allocated via LoTSA is expected to be available via the Panama Canal’s standard Reservation System and Auctions.
These daily auctions have already seen vessels making record payments to transit without booking in advance. A liquefied petroleum gas, or LPG, carrier paid $5.3 million on Sept. 1, the most in the auction so far, for a faster passage through the canal. Earlier in early August, the 10,100 teu container ship Seaspan Benefactor fetched $4.6 million at a daily auction. Another auction this April saw the gas carrier Gas Virgo pay $4 million.
The expansion of LoTSA 3.0 is taking place as the Panama Canal adjusts its operations to weather conditions affecting water availability. “The program is particularly relevant in the current operating environment as the canal implements measures to sustain operations,” said the ACP.
LoTSA 3.0 will continue to offer segmented packages such as FixContainer, FlexContainer, FixGas, FlexGas, FlexGas+ and FlexSlot+. Customers can choose the option that corresponds to their fleet dynamics and commercial objectives, whether they desire guarantyd transit certainty or a greater level of flexibility.
LoTSA 3.0 aims to improve planning of itineraries and boost the reliability and predictability of supply chains by giving canal users the ability to book transit slots in advance.
