ADVISORIES ARE AVAILABLE AT http://www.pancanal.com FOR ETAS OR DIRECT COMMUNICATION WITH OUR OFFICES, REFER TO NOTICE N-3-2023 Panama Canal Authority Vice Presidency for Operations Advisory T o S hipping No. A-43-2023 September 29, 2023 TO: All Shipping Agents, Owners, and Operators SUBJECT: Modifications to the Rules that Govern the Transit Reservation System Due to the ongoing water crisis currently experienced in the Canal watershed, the Panama Canal Authority (ACP) finds it necessary to implement additional changes to the Transit Reservation System rules, based on the reduction in daily transit capacity. Therefore, effective November 1, 2023, a new booking condition will be implemented, based on the adjusted capacity of 31 vessels per day. Under this new condition, named Booking Condition 5, a maximum of 30 booking slots will be offered, 8 in the Neopanamax locks and 22 in the Panamax locks. The following table summarizes the slot distribution per Booking Period of this new Booking Condition: Table 1 VESSEL CATEGORY SPECIAL PERIOD* (730 TO 366 DAYS) PERIOD 1 (90 TO 31 DAYS NEOPANAMAX. 90 TO 15 DAYS PANAMAX LOCKS) PERIOD 1.A** (30 TO 15 DAYS) PERIOD 2 (14 TO 8 DAYS) PERIOD 3**** (7 TO 2 DAYS) TOTAL Neopanamax 1 2 2 2*** 1 8 Supers 3 6 N/A 5 3 17 Regulars 2 - N/A 2 1 5 Total 6 8 2 9 5 30 * Passenger vessels only **Neopanamax only ***Including the conditioned slot ****auction slots only In addition, the following rules will apply: 1. Panamax plus vessels will not be allowed to transit in the Neopanamax locks while this new condition is in effect. Panamax-size vessels shall comply with the maximum authorized draft for the Panamax locks. 2. Once the new Period 1 is in effect, no reservations will be allowed for dates between 365 and 91 days prior to the booking date. Slots that have already been awarded for these dates will be honored. However, no substitutions, swaps, nor changes in dates will be allowed for dates where the period is unavailable. 3. Slots that are cancelled or released for dates that are unavailable (between 365 and 91 days prior to booking date) will be blocked and will become available once the new Period 1 opens 90 days prior to booking date. 3654-A (OP-I) V. 29/03/2023 3654-A (OP-I) V. 29/03/2023 OP, September 29, 2023 Subject: Modifications to the Rules that Govern the Transit Reservation System 4. The Special Booking Period (730 to 366 days) will remain available to passenger vessels only. 5. In the Neopanamax locks, Booking Period 1 (90 to 31 days) will only be available to full container vessels. 6. At the opening of Booking Period 3, the slots will be offered through auctions, seven days prior to the booking date. If an auction closes without bidders, the slot will not become available, and subsequent auctions will not be offered. 7. Slots that are carried over from Period 2 to Period 3, will also be offered through auctions at the opening of the period. If there are no bidders, the slots will not become available. 8. Slots that become available during Period 3 due to cancellations, changes in booking date, or other reasons, will be offered through extraordinary auctions, between 7 and 2 days prior to booking date. If there are no bidders, the slots will not become available. The following table summarizes the slot allocation and priorities per booking period for the Neopanamax locks: Table 2 SPECIAL PERIOD (730 TO 366 DAYS) PERIOD 1 (90 TO 31 DAYS) PERIOD 1.A (30 TO 15 DAYS) PERIOD 2 (14 TO 8 DAYS) PERIOD 3 (