The Panama Canal Authority (ACP) announced on Monday major modifications to its transportation booking system and the launch of its next- long-term allocation plan, LoTSA. The enhanced system, dubbed LoTSA 2.0, aims to provide "greater certainty, flexibility, and value" canal users while addressing evolving market demands.

"Based on the experience with LoTSA 1.0, this enhancement project adopts a more customer-centric approach to support traffic planning and cost-effective operations," the ACP said in a proposal to the shipping industry.

The main changes include shortening the booking period from 12 to two separate 6-month periods. The first period will run from Jan. 4, 2026, to July 4, 2026 with a deadline for sealed bids of Oct. 28, 2025. The average number of daily time slots has been reduced from four to three.

new system introduces segmented service packages tailored to different vessel types, including "fixed packages" for container and gas carriers that require guaranteed certainty, "flexible packages" for those that flexible slot requirements, and "flexible packages" for gas carriers, dry bulkers, ro-ro vessels, and car carriers that offer more dynamic operations.

ForNG vessels, the ACP is reinstating an advance access rule that was in place for the 1A booking period in 2023, effective Jan. , 2026, which the agency claims will enhance certainty during peak demand periods and reduce the risk of delays.

The ACP is also doing away with a of one time slot per customer per day at the Panama Canal's new locks, which could allow shipping lines to book multiple slots on a given day.

According to theCP, the benefits of the new system include the ability to book a shipping date and submit a vessel name up to 15 days in advance, the option to modify a booking for free up to twice after notification, and a cancellation penalty of 80% of the awarded bid amount when canceled more than 15 days in advance.

LoA customer service teams will be available to advise canal users starting in mid-October.

The Panama Canal, a vital maritime shortcut connecting the Atlantic and Pacific oceans, has been its operations in recent years to address challenges including water scarcity and changes in global shipping patterns.