A communications network for transporting data packets among L2/L3 nodes based on dynamically L1-channelizable multi-source buses. The dynamic channelization of a packet transport bus among source-node-specific L1 connections is managed by a bus control process, which periodically optimizes the allocation of bus capacity pool among the source nodes based on real-time bus capacity demand figures by the source nodes of the bus. The invention provides means for real-time dynamic, traffic load adaptive allocation of transport network capacity to continuously maximize the data throughput of the transport network for dynamic packet traffic, such as Internet traffic.