The Panama Canal Authority (ACP) plans to allow swapping and substitution of booking slots between container vessels of members of an alliance, the ACP said in its Advisory to Shipping.
Starting from December 1, 2017, swapping and substitution will be allowed on a temporary basis under the following conditions:
If the request for substitution is received at least seven days in advance of the booked vessel’s required arrival, no cancellation fee will be assessed, according to the ACP.
Vessels within the same alliance are permitted to swap their reserved transit slots up to five times per booking. The swapping fee to be applied will depend on the number of swaps that the vessel is involved in, the ACP said.
Separately, the ACP announced it will modify the booking cancellation fees, effective October 15, 2017. The move comes due to the opening of the Expanded Panama Canal and the incorporation of Neopanamax vessels into the Transit Reservation system.