To help mitigate the economic impact of the COVID-19 pandemic, the Panama Canal announced Wednesday a temporary adjustment to its reservation system, taking effect from 4 May to 1st September 2020.
The adjustments relate to temporary changes to the requirements for the placement of booking guarantees and advance payment of reservation fees after confirmation of the reservation.
As such, operators will be able to place the guarantee for the payment of the booking slot, prior to the vessel initiating transit.
The months ahead will be challenging across our industry, but we aim to help reduce the financial burden for our customers today so we can all stand ready for a brighter future tomorrow,
…said Panama Canal Administrator Ricaurte Vásquez Morales.
The measure came as a result of dialogues between the Canal’s leadership team and industry leaders, exploring how to best provide support to operators amid COVID-19.
In January, the Panama Canal began implementing measures to safeguard its sustained operations in response to the pandemic.
In March, the waterway instituted heightened procedures, including a reduction of on-site staff to only those essential for transit operations, and mandating their strict compliance with protocols.
