Panama Canal’s NetZero programme

Vessels preparing for their first Panama Canal transit can now compete for a dedicated NetZero reservation slot after completing a preliminary assessment by the Panama Canal Authority (ACP). Effective from 1 November 2026, the revised procedure allows eligibility checks before arrival, including inspections outside Panama where necessary.

What must applicants complete before competing?

Owners, operators or authorised agents must submit technical documents to the ACP’s Admeasurement Unit. The assessment establishes the vessel’s toll basis, Panama Canal Universal Measurement System tonnage, engine type and information needed to determine programme eligibility.

An application alone does not qualify a vessel. The ACP must complete its evaluation and issue the preliminary determination before the relevant competition date. Other NetZero requirements continue to apply.

The authority may assess submitted documents and require a physical inspection. Preliminary approval does not replace final verification or additional checks before transit.

What are the overseas inspection charges?

Inspection charges are US$14,000 in the Americas, US$21,000 in Europe and US$28,000 in Asia, Africa and Oceania. Each additional inspection day costs US$3,500.

Applicants must also cover applicable expenses and arrange permits and vessel access. Documents should be submitted sufficiently early to complete the process before competition closes.

Which vessels qualify for a NetZero slot?

The programme’s initial phase targets dual-fuel vessels capable of operating on at least one fuel with an estimated well-to-wake carbon intensity of 75 grams of carbon dioxide equivalent per megajoule or less.

Well-to-wake assessment considers emissions across the fuel’s lifecycle, including production, distribution and onboard consumption. This provides a broader measure than exhaust emissions alone.

The ACP’s launch announcement identified green methanol, green ammonia, bio-liquefied natural gas and bio-liquefied petroleum gas as qualifying examples. During the initial phase, vessels were not required to consume these fuels immediately. The approach recognises investment in compatible propulsion technology while alternative-fuel supply develops.

Eligibility therefore depends on meeting the programme’s technical criteria, rather than simply being a newly built or first-time transit vessel.

What benefits does the programme provide?

The NetZero programme offers one dedicated Neopanamax slot each week. Successful applicants can choose their transit date within the assigned week and receive a guaranteed 24-hour in-transit time.

Just-in-Time service is included, while vessel exchanges and substitutions are permitted where the replacement meets equivalent qualifying specifications.

The slot is awarded through a competition rather than an auction. Selection gives preference to loaded vessels, followed by higher canal-measured tonnage. Payments associated with a previous transit provide an economic-contribution tiebreaker.

The first competition was held on 3 October 2025 for transits during 2–8 November 2025. The slot comes from booking period 1A, reducing the capacity available through the ordinary competition on the selected transit date.

Customers apply through the Transit Reservation System and specify their intended transit day. Successful vessels remain subject to the applicable Neopanamax reservation fee.

Why does advance preparation matter?

The revised process gives first-time callers a route to establish eligibility before reaching canal waters. Operators must nevertheless allow time for document review, inspection arrangements and any further information requested.

Reservation planning also remains important because canal capacity is influenced by water availability. In its earlier operational guidance, the ACP warned that vessels arriving without confirmed bookings could experience extended waits during constrained conditions.

The authority continues to monitor rainfall, watershed inflows and lake levels when determining operating arrangements. Completing the NetZero assessment enables participation in the competition; securing the reservation remains a separate step.