The Panama Canal Authority (PCA) has announced plans to launch dedicated transit slots for vessels with low carbon emissions.
Beginning on October 5, a weekly transit slot will be reserved for neo-panamax ships that meet specific low-carbon emission requirements. Unlike previous announcements, this slot will not be offered through an auction but through a competition held 30 days before the transit date.
“By motivating investment in vessels capable of using low-carbon fuels and energy-efficient technologies, we are recognizing and rewarding our clients who are leading the transition toward a more sustainable future, while we await the development of regional infrastructure and logistics that will allow us to make steady progress toward global decarbonization goals,” stated Ilya Espino de Marotta, the Panama Canal’s deputy administrator and sustainability officer.
Under the first phase, the so-called NetZero Slot will accommodate ships equipped with dual-fuel engines that use fuel with a carbon intensity of less than 75 gCO2(e)/MJ from extraction to combustion. Specifications for a second phase, slated for 2026, will be announced on a later date.
Loaded vessels and those with a larger Panama Canal Universal Measurement System (PCUMS) capacity are to be given priority in the competition. The winning vessel is to benefit from being able to choose the transit date within the week offered, a guaranteed transit time of 24 hours, as well as just-in-time service.
(PCA photo)