Panama Canal extends long-term slot programme as waterway prepares for another drought-threatened dry season
The Panama Canal Long-term Slot Allocation (LoTSA) Programme has been expanded to include both Panamax and Neopanamax locks for the first time. Carriers will be able to bid for guaranteed transit slots during the dry season from January to April 2027. A total of 558 slots will be offered through sealed-bid auctions. The expansion follows improved rainfall and water-saving measures that allowed the canal to ease some drought restrictions. However, the Panama Canal remains concerned that a severe El Niño could again reduce transit capacity in early 2027.
Read more: Lloyd’s List
Red Sea container transits hit post-crisis high as carriers accelerate return
Container traffic through the Red Sea and Suez Canal continues to recover rapidly. In September, 314 containership transits passed through the Bab el Mandeb Strait, the highest monthly level since the Houthi attacks began in late 2023 and up 64% year on year. More major carriers are returning from the Cape of Good Hope route to the shorter Suez route. The Premier Alliance (ONE, HMM and Yang Ming) has announced that two Asia-North Europe services will resume Red Sea transits in both directions. Overall, about 35% of Asia-Europe sailings are now estimated to use the Red Sea route again. The return to the Suez route is increasing effective shipping capacity, putting downward pressure on freight rates.
Read more: Lloyd’s List
