The Panama Canal Authority said on Monday it will extend the advance slot allocation programme for its Panamax locks and will offer long-term allocation programmes for transit dates from January 3 to April 3, 2027.
Vessels transiting the locks can secure slots in advance through a sealed-bid auction, the authority said a statement.
The new Panamax pilot programme will offer an average of three slots per day, according to the statement.
The pilot programme will allow vessels to secure a package of transit slots for the full period in a single transaction, the canal authority said.
Sealed bids for transit slots for the Panamax locks will be accepted on November 24, 2026.
The authority also reduced the late cancellation threshold from seven days to four days, effective October 15.
The cancellation surcharge remains at 250 per cent of the reservation fee.
Distribution of transit slots through the canal's neo-Panamax locks continues under current terms with an average of three slots per day.
The canal last week increased daily booking slots at its neo-Panamax locks from nine to 10, also starting on October 15.
(Reporting by Iñigo Alexander, Editing by Natalia Siniawski and Aida Pelaez-Fernandez)