The Panama Canal Authority has introduced the NetZero Slot, a dedicated transit slot for ships that demonstrate low carbon emissions.
Set to commence on 5 October 2025, this initiative is part of the authority’s strategy to support the maritime industry’s efforts towards decarbonisation and achieving net zero emissions by 2050.
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The criteria for the selection process will be based on the cargo condition, with priority given to laden vessels, and capacity, with priority given to vessels with a greater Panama Canal Universal Measurement System (PCUMS) capacity.
The first phase of the NetZero Slot is planned to be implemented on a weekly basis for Neopanamax vessels that adhere to stringent low-carbon emission criteria.
This initiative marks a departure from previous practices, as the slot will not be auctioned but awarded through a competitive process known as Period 1A, taking place 30 days prior to the transit date.
Eligible vessels for the first phase must be equipped with dual-fuel engines and utilise fuel with a carbon intensity below 75gCO2(e)/MJ, measured from extraction to combustion Well-to-Wake (WtW).
The vessel awarded the NetZero Slot will benefit from the ability to choose a transit date within the designated week, a guaranteed transit time of 24 hours, and the inclusion of Just-in-Time (JIT) service.
For phase two, planned for 2026, vessels are required to submit a Technology Screening Report that assesses energy efficiency technologies relevant to the vessel alongside the phase one requirements.
Specifications for the report will be announced via the publication of an Advisory to Shipping, the authority stated.
Panama Canal deputy administrator and sustainability officer Ilya Espino de Marotta emphasised that the NetZero Slot is part of a broader set of initiatives aimed at enhancing global maritime efficiency and effectiveness while simultaneously reducing the industry’s carbon footprint.
Marotta added: “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.”
Earlier this month, a BlackRock-TiL consortium announced plans to acquire CK Hutchison Holdings’ 90% stake in the Panama Ports Company and the Balboa and Cristobal ports, but that appears to be on hold now.
