The Panama Canal will auction long-term transit slots for Jan. 3 through April 3, 2027, extending the program to the Panamax locks for the first time. The program reserves an average of three transits a day at each set of locks.
A carrier or charterer planning to move cargo through the canal next winter now decides whether to bid in November or rely on regular bookings and the daily auction. A winning bid in that auction has reached a record $5.3 million.
The canal will take sealed bids in two rounds:
Neopanamax locks: 36 packages covering 270 slots, 165 northbound and 105 southbound, on Nov. 17
Panamax locks: 51 packages covering 288 slots, 147 northbound and 141 southbound, on Nov. 24
The Panamax pilot uses the same award rules as the Neopanamax program and is open to vessels up to 966 feet long and 107 feet in beam. Capacity outside the program stays in the regular reservation system and daily auction.
The canal will offer 33 transit slots a day from Oct. 15, 10 of them at the Neopanamax locks. It said last month that ships without a reservation may face “indefinite delays.”
The canal’s advisory on the program also shortens the late-cancellation window for booked transits to four days from seven, effective Oct. 15. The surcharge stays at 250% of the reservation fee.
