The Panama Canal Authority has introduced a new booking reservation system, the Long-Term Slot Allocation (LoTSA), to regulate canal crossing reservations.
This system, which will take effect on 1 January 2025, has significantly increased operational costs for CMA CGM.
To offset these additional costs while continuing to provide reliable services transiting through the Panama Canal, CMA CGM will implement a Panama Canal Transit surcharge starting 2 January 2025.
In addition, this surcharge will apply to cargo transported from the Far East, including China, Hong Kong & Macau SAR, North East Asia, and South East Asia (excluding Taiwan), via the Panama Canal to the US East Coast and the US Gulf.
The affected services include Chesapeake Bay Express (CBX), Gulf of Mexico Express (GMXP), Manhattan Bridge (MANB), Pacific Express 3 (PEX3), South Atlantic Express (SAX), Taiwan Strait (TWS), Vespucci Service (VESPUCCI), and Pacific Express 2 (PEX2). The surcharge will be approximately US$40 per TEU.
