The Panama Canal Authority has announced the launch of the NetZero Slot, a new category within its transit reservation system designed to encourage maritime decarbonization and support the canal's commitment to achieving net-zero emissions by 2050.

The first competition to allocate this slot will take place on October 3, applicable to the transit week of November 2–8. Beginning on that date, one weekly slot will be reserved exclusively for vessels that meet low-emission criteria.

Vessels awarded the NetZero Slot will receive several benefits, including freedom to select their preferred transit date within the assigned week, guaranteed transit within 24 hours, inclusion of the Just-in-Time service, and flexibility to exchange or substitute vessels of equivalent specifications.

In this initial phase, vessels must be registered as dual-fuel and capable of operating on at least one fuel with a carbon intensity factor equal to or less than 75 gCO₂e/MJ. Eligible fuels include green methanol, green ammonia, bio-LNG, or bio-LPG. While immediate use of these fuels will not be required, the canal will recognize the investment and capacity to operate them once supply becomes available.

The NetZero Slot will not be auctioned. Instead, vessels will compete weekly under a prioritization scheme based on cargo condition, with preference given to loaded vessels, PCUMS capacity with priority awarded to higher tonnage, and economic contribution from combined payments of tolls, maritime services, and fees from prior transits used as a tiebreaker.

"The NetZero Slot is an unequivocal signal of our commitment to sustainability and the competitiveness of global trade. Through this initiative, we aim to support our customers in the transition toward a low-emissions future," said Ilya Espino de Marotta, Deputy Administrator and Chief Sustainability Officer.

The Panama Canal Authority says the initiative reaffirms its role as a catalyst of the global energy transition, offering customers an incentive to accelerate the adoption of alternative fuels and low-carbon technologies.