The Panama Canal Administration is capitalizing on the larger Neopanamax Locks to increase slot availability and efficiency for customers
Panama City, Panama - November 30, 2017
The Panama Canal will increase the number of daily booking slots available for Neopanamax vessels from six to seven effective December 1, 2017.
With this measure, the Panama Canal is embracing the additional capacity allowed for by the new, larger locks. The seven daily booking slots for Neopanamax vessels are offered in addition to the 23 slots available each day for transit through the Panamax locks.
"This increase is the direct result of our efficient, streamlined use of resources and effective collaboration as we meet the growing demand for transits through the Expanded Canal," said Panama Canal Administrator Jorge L. Quijano. "We are excited to offer the additional capacity, and deliver on our promise to provide unparalleled safe and efficient service to our customers."
The additional slot is now available for ships transiting northbound (from the Pacific Ocean to the Atlantic Ocean), and was first offered beginning September 26 through a special competition in the first booking period in adherence to Panama Canal regulations.
Container vessels will have preference over other vessel types when allocating these additional slots. If no container vessels are interested, the slot will be awarded to any vessel that participated in the special competition, based on the Panama Canal Customer Ranking. After the special competition, the slots will be available to all vessels on a first-come, first-served basis.
The Neopanamax Locks can transit additional ships beyond the number of daily slots allotted. For example, the Expanded Canal transited a record 10 Neopanamax ships on November 17, and provides daily performance that far exceeds the three to four daily transits originally expected.
Dedicated to providing the utmost safety and efficiency for its customers, the Panama Canal will continue to explore ways to expand its capacity, working toward the goal of offering eight Neopanamax reservation slots by the end of the first quarter of 2018 and gradually implementing additional measures to increase capacity through 2019.
About the Panama Canal Authority
The Panama Canal is run by an autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority (ACP) is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP's website: http://www.pancanal.com or follow us on Twitter @thepanamacanal.
About the Panama Canal Expansion
The Panama Canal Expansion is the largest enhancement project since the Canal's opening in 1914. Considered and analyzed for a decade with more than 100 studies, the Expanded Canal provides the world's shippers, retailers, manufacturers and consumers with greater shipping options, better maritime service, enhanced logistics and supply-chain reliability. The Expansion included the construction of a new set of locks on the Atlantic and Pacific sides of the waterway, creating a third lane of traffic and doubling the cargo capacity of the waterway. While the expanded locks are 70 feet wider and 18 feet deeper than those in the original Canal, they use less water due to water-savings basins that recycle 60 percent of the water used per transit. In line with its commitment to customer service, the Panama Canal will continue to provide the world with value for another century and beyond.
Panama Canal Authority press release