Last week the Panama Canal announced that a dedicated slot will be auctioned to Green Panamax container ships, starting 1 January 2025. The exclusive space will be available for auction 30 days before the scheduled transit date.
This pilot program aims to facilitate the movement of ships that utilize energy-efficient technologies and/or alternative fuels, thereby helping to reduce greenhouse gas emissions and promoting sustainable practices within the maritime industry. This in alignment with the Canal’s commitment to achieve net-zero carbon emissions by 2050.
In March this year, the Panama Canal revealed its investment program, investing $8.5 billion in modernization and green technology until 2030. It includes $2B. dedicated to new initiatives focused on sustainability, $1B. for Digital Transformation and waterborne decarbonization and $3.5B. for infrastructure and equipment such as electric vehicles and hybrid tugboats.
The standards for green vessels are laid out in this Advisory to Shipping A-12-2023 of 20 March 2023. Further information regarding this initiative will be provided in an upcoming Advisory to Shipping.
Read the Panama Canal’s announcement on the Green Vessel Slot here: Advisory To Shipping No. A-25-2024 (1 August 2024).