PANAMA CITY, Oct. 5 (Xinhua) -- The Panama Canal Authority said Monday it will expand its Long-term Slot Allocation program to include a pilot program for the Panamax locks for the first time, covering transits from Jan. 3 to April 3, 2027.

The program, known as LoTSA, will continue at the Neopanamax locks, with bidding scheduled for Nov. 17. It will offer 36 packages totaling 270 transit slots, the authority said in a statement.

Bidding for the Panamax pilot program will take place on Nov. 24, with 51 packages totaling 288 slots available.

Slots will be allocated through sealed-bid competitions. The program is designed to allow customers to secure transit slots ahead of the dry season, giving shipping companies greater certainty when planning their operations.

The authority said the program is particularly relevant as the canal takes steps to sustain operations amid climatic conditions affecting water availability.

Remaining transit capacity is expected to continue being offered through the regular booking system and auctions, the authority added. ■

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