The Panama Canal Authority has introduced the NetZero Slot, a new initiative to support the maritime industry’s efforts towards decarbonization and achieving net zero emissions by 2050. The slot will be available for Neopanamax vessels that meet stringent low-carbon emission criteria and is set to commence on October 5, 2025.
The NetZero Slot will be awarded through a competitive process, and eligible vessels must be equipped with dual-fuel engines and use fuel with a carbon intensity below 75gCO2(e)/MJ, measured from extraction to combustion. The awarded vessel will benefit from a guaranteed 24-hour transit time and Just-in-Time (JIT) service.
The first phase of the NetZero Slot will be implemented on a weekly basis, with priority given to laden vessels and those with a greater Panama Canal Universal Measurement System (PCUMS) capacity. The selection process will be based on cargo condition and capacity.
The NetZero Slot is part of a broader set of initiatives aimed at enhancing global maritime efficiency and reducing the industry’s carbon footprint. As noted by the Panama Canal’s deputy administrator and sustainability officer, Ilya Espino de Marotta, the initiative aims to motivate investment in vessels capable of using low-carbon fuels and energy-efficient technologies.
The NetZero Slot is a significant step towards decarbonization, and its success will depend on the cooperation of stakeholders in the maritime industry. The Panama Canal Authority’s efforts to support the industry’s transition to a more sustainable future are timely and crucial, given the urgent need to reduce greenhouse gas emissions.