The Panama Canal Authority (ACP) is temporarily easing parts of its Neopanamax reservation system as the waterway prepares for lower transit capacity amid strong demand and continued pressure on water supplies.

Effective August 30 for booking dates from September 13, customers may obtain more than one Neopanamax reservation for the same date and reserve slots on consecutive dates. The measures reverse restrictions introduced through an earlier advisory.

The ACP will make 63 Neopanamax reservation slots available each week, including capacity assigned through its Long-Term Slot Allocation and NetZero programs. It said the revised arrangements were developed following customer feedback and are intended to distribute capacity more evenly across market segments while supporting vessels that use water more efficiently.

Under the temporary allocation, full containerships will receive at least five slots on each booking date, while LPG carriers will be assigned a minimum of three slots per date. LNG carriers will have at least three slots per week, with a further three weekly slots set aside for vehicle carriers, RoRo vessels, bulkers and other ship types.

Containership allocations will be based on vessels’ Transit TEU Allowance capacity. The approach is designed to encourage operators to consolidate cargo and carry more containers for the water consumed during a canal transit. Panama Canal Administrator Ricaurte Vásquez has said the authority is increasingly considering the volume of cargo moved per cubic metre of water in its hydrological planning.

Unused capacity within one vessel segment may be transferred to others. Unclaimed containership slots, for example, can be reassigned first to LNG and LPG carriers and then to vehicle carriers, RoRos, bulkers and other vessels. Comparable redistribution provisions will apply to the remaining market segments.

Customers may also swap or substitute vessels after securing a reservation, provided the replacement vessel has the same or a higher Transit TEU Allowance capacity. Partners in alliances and vessel-sharing agreements can take part in these transactions as long as the applicable customer slot limit is not exceeded. Booking dates may be changed under similar conditions.

The changes come as more vessels arrive without reservations and compete for auctioned transit openings. According to Vásquez, the proportion of ships arriving without appointments has risen from about 10% to between 20% and 25%. Up to 18 vessels have competed for one opening, while a recent auction reached a record $5.3 million.

The canal is also reducing capacity after watershed rainfall fell short of expectations. Neopanamax availability is scheduled to decline to nine daily slots from September 3. Panamax capacity will initially be capped at 25 daily slots before falling to 23 on September 15.

With developing El Niño conditions expected to persist for about eight months, the ACP warned that reservations remain the only means of guaranteeing a transit date while the watershed water deficit continues. Vessels arriving without bookings could face indefinite delays. The authority said it will continue reviewing rainfall and water conditions and adjust operations when circumstances permit.