October 5 will see the launch by the Panama Canal of the first phase of a weekly NetZero Slot for Neopanamax vessels that meet specific low carbon-emission requirements.
Reserved for vessels with low carbon emissions as a strategy to incentivise customers on their path to decarbonisation, it’s part of the waterway’s commitment to achieving net-zero emissions by 2050.
“Unlike previous announcements, this slot will not be offered through an auction but through a competition in Period 1A, held 30 days before the transit date,” according to a statement released by the Panama Canal Authority.
“The first phase will accommodate vessels equipped with dual-fuel engines that use fuel with a carbon intensity of less than 75 gCO2(e)/MJ, from extraction to combustion well-to-wake. Specifications for a second phase, planned for 2026, will be announced via the publication of an Advisory to Shipping.”
Vessels that qualify for the NetZero Slot will enjoy the benefit of choosing the transit date within the week offered.
They will have a guaranteed transit time of 24 hours, and Just-in-time service included.
“By motivating investment in vessels capable of using low-carbon fuels and energy-efficient technologies, we are recognising 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 decarbonisation goals,” said Ilya Espino de Marotta, the Panama Canal’s deputy administrator and sustainability officer.
