Americas News
Panama Canal to Reserve Weekly Transit Slot for Dual-Fuel Ships from October
The Panama Canal Authority will reserve one weekly transit slot for dual-fuel capable ships from October, as part of a new initiative to support shipping's energy transition.
The NetZero Slot will be awarded under a ranking system favouring loaded vessels, larger capacity, and higher past payments, rather than auctioned, the authority said in a statement on its website on Friday.
The first competition to allocate the slot will be held on October 3, for voyages transiting the week of November 2-8.
"In this first phase, the NetZero Slot will be open to dual-fuel vessels capable of operating on fuels with an estimated well-to-wake (WtW) carbon intensity of 75 gCO2e/MJ or lower, such as LNG, LPG, methanol, and ammonia, recognising early investments in low-carbon technologies even before these fuels become widely available," the canal authority said.
Immediate use of these fuels will not be required, but the canal will recognise the investment and capacity to operate on them once supply is available.
The vessel awarded the NetZero Slot will be charged the transit reservation – Neopanamax Vessel fee, as published in the Maritime Services Tariff.
Benefits include guaranteed transit within 24 hours, just-in-time service, and the option to exchange or substitute equivalent vessels.
"The NetZero Slot is an unequivocal signal of our commitment to sustainability and the competitiveness of global trade," Ilya Espino de Marotta, deputy administrator and chief sustainability officer at Panama Canal Authority, said.
"Through this initiative, we aim to support our customers in the transition toward a low-emissions future."
