Inchcape Shipping Services recently participated in a workshop discussing anticipated changes to the Panama Canal’s LoTSA (Long-Term Slot Allocation) system, referred to as LoTSA 2.0. While the Panama Canal Authority (ACP) has not yet released an official advisory, the workshop provided valuable insights into the proposed framework for FY2026.
Key Announcements from the Workshop
- Customer Ranking Method: ACP confirmed that the current ranking methodology will remain unchanged for 2026.
- LNG Vessel Priority: Priority for LNG vessels in Period 1.a will be reinstated.
- LoTSA 2.0 Structure:
- Transition from annual to six-month packages.
- Introduction of multiple auctions on the same day.
- Reduction in packages for full container vessels, based on market research and operational needs.
Customer Feedback Highlights
The workshop included feedback from LoTSA customers across segments:
- Full Containers: Customers emphasised the need for flexibility, date adjustments, and cancellation options. 50% valued both certainty and flexibility.
- LNG/LPG: Customers prioritised better slot management and digital visibility. 75% proposed differentiated cancellation rates.
- Non-LoTSA Customers: Cited lack of flexibility and slot uncertainty as reasons for non-participation.
Operational Changes in LoTSA 2.0
- Slot Allocation: Average daily slots reduced from 4 to 3.
- Package Adjustments:
- Container vessels: Reduced from 14 to 10 packages.
- LNG/LPG: Slight reduction in packages and average daily slots.
- Other segments: Expanded offerings.
Policy Updates
- Cancellation Fees:
- 80% if cancelled ≥15 days in advance.
- 100% if cancelled <15 days.
- Date Changes:
- Up to 5 days allowed, with additional changes subject to fees.
- Club LoTSA: Eliminated in favour of sealed bid auctions.
- Form 4611: Will no longer be used in LoTSA 2.0.
New Offer Types
LoTSA 2.0 introduces segmented offers such as:
- FixContainer / FlexContainer
- FixGas / FlexGas / FlexGas+
- FlexSlot+ (for other segments)
Each offer differs in the opportunities it provides customers to adjust the number of changes and directions, with priority given to higher bids.
Disclaimer
This information is based on a workshop presentation and is preliminary. Official details will be confirmed upon release of the ACP advisory. The content is shared by Inchcape Shipping Services and is intended for informational purposes only.