JOC.com: "Ships that receive bookings must arrive at the canal by 10 p.m. local time the day before their transit. If a ship is late, the cost of transit goes up by 25 percent for each hour until the fourth hour, after which the cost of sailing will be equivalent to one additional transit.
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Cancellation fees vary depending on the time frame within which the cancellation occurs, and transits canceled with less than 36-hours notice will have to be paid in full.
Slots will be awarded on a first-come, first-served basis that takes into account current booking rules, customer ranking and “other tie-breaker criteria.”"