News / Forwarders welcome Panama Canal's NetZero slot plan to reward dual-fuel fleets

Photo: © Yanik Chauvin

Pushing ahead with plans to encourage more sustainable vessels, the Panama Canal Authority (ACP) has opened its NetZero slot allocation programme, offering up preferential access to dual-fuel ships, receiving plaudits from forwarders in the process.

Earlier this year, the ACP said that it would introduce a weekly transit slot reservation system for low carbon emitting vessels as it sought to provide inducements for the industry to shift to cleaner, more sustainable modes of transport.

Coming on the back of what has been a difficult period for the waterway, as it contended with low water levels and found itself embroiled in geopolitics, forwarders have welcomed the plan, one telling the The Loadstar the programme offers dual-fuel operators “an edge”.

Rather than auctioning the slots, the ACP said the programme would launch as a competitive tender process on 5 October with carriers competing for access to the NetZero slots under a range of criteria for the week commencing 8 November.

Chief sustainability officer Ilya Espino de Marotta said: “The NetZero Slot is an unequivocal signal of our commitment to sustainability and competitiveness of global trade. Through this initiative, we aim to support our customers in the transition toward a low-emissions future.”

Determining criteria includes condition of cargo, with loaded vessels given preference; vessel capacity with those offering higher tonnage prioritised; and, in the event of a tiebreaker, combined payments from tolls, maritime services, and fees from prior transit are considered.

Running on a weekly basis in this first phase, winners will gain freedom to select preferred transit dates for that week; guaranteed transit within 24 hours; flexibility to exchange, or substitute vessels of equivalent specifications; and inclusion of the just-in-time service.

Global pharma and healthcare director at AGL Cargo, Jackson Campos, told The Loadstar: “By offering a guaranteed 24-hour transit, flexible scheduling, and Just-in-Time arrivals, the Canal can reduce risks that often disrupt supply chains.

“For shippers of time-sensitive goods like auto parts or vehicles, avoiding delays may matter more than paying higher rates for modern ships. Even with only the one weekly slot for neo-panamax vessels, the signal is strong: the canal rewards future-ready fleets today.”

Supported fuel types include Ammonia, LNG, and hydrogen. The decision follows ACP’s move to investigate ways to not only boost its credentials as an integral shipping hub, but to “lead the way” in sustainability.

Some 120 dual-fuel vessels are already in service and account for roughly half of all new orders placed, with demand continuing to rise, as the likes of CMA CGM and HMM place major orders – the former recently announcing an order for 10 LNG dual-fuel ships.