March 27 ------ The Panama Canal Authority (ACP) has unveiled a new initiative that prioritizes vessels running on low-carbon fuels and ships fitted with energy-efficient technologies, aiming to ‘fortify’ its own as well as global shipping decarbonization goals.
Dubbed the NetZero Slot, this initiative represents what is described as a dedicated weekly transit slot for Neopanamax vessels that meet ‘very specific’ low-carbon requirements. As explained, the service, set to begin in October 2025, will offer expedited transit for qualifying ships, including those equipped with energy-saving solutions and those that are dual-fuel-ready and capable of operating on at least one fuel with a well-to-wake (WtW) carbon intensity below 75 gCO2(e)/MJ.
According to the Panama Canal Authority, this endeavor is in line with its commitment to climate neutrality and its ambition to support global shipping’s transition to net zero emissions by 2050. It is understood that the newly introduced program allocates one slot each week starting from “Period 1A” from October 5 this year, guaranteeing a 24-hour transit time with a ‘just-in-time service’ available to optimize scheduling for shipping companies.
However, as informed, the eligibility criteria will roll out in more than one stage. To be precise, following the Period 1A phase, which will see dual-fuel vessels with carbon intensity lower than 75 gCO2(e)/MJ qualify for the program, the Phase 2 of the effort—due to commence in 2026—will encompass the incorporation of further green technological solutions, thus expanding the scope of qualifying ships.
During Phase 2, representatives from the ACP have noted that ship owners and operators will be required to submit a technology screening report for their vessels, evaluating their energy efficiency-oriented technologies.
In terms of fuel eligibility, ships that can qualify for the NetZero Slot need to be certified to use specific low-carbon fuels. As explained, NetZero Slot was envisioned to prioritize vessels using energy sources like liquefied natural gas (LNG), ammonia, or hydrogen-based alternatives that meet the carbon intensity thresholds as outlined for Phase 1.
On the other hand, when it comes to selection criteria, the ACP has said that laden vessels and those with higher Panama Canal Universal Measurement System (PCUMS) capacities will be given additional prioritization. This is anticipated to boost the operational efficiency for ships of larger sizes.
To remind, although it faced fewer deep-draft transits in 2023, caused mostly by the COVID-19 pandemic and climate-related disruptions, the Panama Canal nonetheless reported a ‘very stable’ fiscal year 2024 as well as ‘hopeful’ predictions for the upcoming period.
Speaking at a maritime conference in Houston, Texas, in November 2024, canal administrator Ricaurte Vásquez revealed that Panama was investigating various paths as to how it could give speed to its ambitions to become an “integral shipping hub” and a ‘leader’ in sustainability, with one road leading toward diversification.
More recently, namely at the beginning of March 2025, Vásquez traveled to Japan, where he attended a conference related to “sustainable and efficient” trade flows of liquefied petroleum gas (LPG). At the event, which was held in the country’s capital city of Tokyo, Vásquez reportedly reiterated Panama’s commitment to strengthening its relations with Japan—said to be the canal’s third largest user—especially amid mounting challenges caused by recent geopolitical tensions.
Source: offshore-energy.biz
Comments