The Panama Canal Authority has announced the launch of the “NetZero Slot,” a dedicated transit slot for vessels with low carbon emissions, set to begin on October 5, 2025. This initiative incentivizes shipping companies to adopt cleaner fuels and energy-efficient technologies, aligning with global decarbonization goals, reducing the operating costs and leading to significant cost savings. See also EU ETS costs implications.
Panama NetZero Slot
The NetZero Slot will be available weekly for Neopanamax vessels meeting specific low-carbon emission criteria.
The initiative starts on October 5, 2025, focusing on dual-fuel vessels using low-carbon fuels.
Benefits include flexible scheduling, guaranteed transit times, and just-in-time service.
Overview of the Net Zero Slot Initiative
The NetZero Slot is part of the Panama Canal’s broader strategy to achieve net-zero emissions by 2050. The program will initially cater to Neopanamax vessels equipped with dual-fuel engines that utilize fuels with a carbon intensity of less than 75 gCO₂(e)/MJ, measured from extraction to combustion (Well-to-Wake).
Unlike previous plans that involved auctions, the NetZero Slot will be allocated through a competitive process held 30 days prior to the transit date, ensuring a fair opportunity for eligible vessels.
Benefits for Participating Vessels Qualifying for the Netzero Slot
Vessels that qualify for the NetZero Slot will enjoy several advantages:
Flexible Scheduling: Ship operators can choose their transit date within the designated week.
Guaranteed Transit Time: A commitment to complete the passage within 24 hours.
Just-in-Time (JIT) Service: This service optimizes scheduling and minimizes delays, enhancing operational efficiency.
Phased Implementation of Panama Net Zero GHG initiative
The NetZero Slot initiative will be rolled out in phases:
Phase 1 (Starting October 5, 2025): Focuses on dual-fuel vessels with carbon intensity below 75 gCO₂(e)/MJ.
Phase 2 (Planned for 2026): Will expand eligibility criteria to include additional green technologies. Ship owners will need to submit a technology screening report evaluating their vessels’ energy efficiency technologies.
Commitment to Sustainability
Ilya Espino de Marotta, the Panama Canal’s Deputy Administrator and Sustainability Officer, emphasized that this initiative is a significant step towards supporting global maritime efficiency while reducing environmental impact. By encouraging investment in low-carbon vessels, the Panama Canal aims to reward shipping companies that are leading the transition to a more sustainable future.
This initiative not only aligns with the Panama Canal’s sustainability goals but also positions it as a leader in the maritime industry’s shift towards decarbonization. As the world increasingly prioritizes environmental responsibility, the NetZero Slot represents a proactive approach to fostering a greener shipping sector.
Sources
Panama Canal to launch transit slot for low emissions vessels only, safety4sea.
Panama to incentivize low-emission shipping via new initiative, Offshore Energy.
Panama Canal introduces ‘NetZero Slot’ to promote low-carbon shipping, Portnews.
Panama Canal earmarks slot for greener ships, Splash247.
Panama Canal Introduces “NetZero Slot” To Promote Low-Carbon Shipping, Marine Insight.
