PANAMA FLASH! | Panama City – August 26th, 2024
New Implementation dates for the Long-Term Slot Allocation (LoTSA) method
Following the announcement of the new Long Term Slot Allocation (LoTSA) methodology, several customers from the full container market segment have requested additional time to properly evaluate this new initiative.
Therefore, in consideration of our customers’ concerns, and in order to encourage greater participation and ensure the success of the LoTSA methodology, the Panama Canal Authority announces the postponement of the implementation date until October 1, 2024, for all market segments, except for LNG/LPG.
The sealed bidding process for the first calendar year period for booking dates from January 5, 2025, to January 3, 2026, will be held as shown in the following table:
Regarding the payment of slots obtained through the LoTSA method, customers must pay in cash or post a bank guarantee, in the legal currency of the Republic of Panama (USD) not later than 96 hours prior to the transit date.
The remaining information published in Advisories A-25-2024 and A-29-2024 remains unchanged. The terms and conditions for the LoTSA initiative have been updated accordingly, and are available in the following link: https://pancanal.com/en/maritime-services/vessel-eta-and-transit-booking
For customers interested in participating in the LoTSA method, please contact us at operations@nortonlilly.com.pa with your intended bid amount and the number of packages you wish to offer.
Norton Lilly International (Panama) S.A.
Bldg. 3825 – Office 204
Howard – Panama-Pacifico
Panama, Rep. of Panama
Tel: (507) 304-4600
Main email: operations@nortonlilly.com.pa (24 hours)
