{"id":13942,"date":"2026-06-12T09:10:00","date_gmt":"2026-06-12T14:10:00","guid":{"rendered":"https:\/\/expat-times.com\/panama\/?p=13942"},"modified":"2026-06-11T12:46:49","modified_gmt":"2026-06-11T17:46:49","slug":"ship-exodus-from-panamanian-registry-hits-220-vessels","status":"publish","type":"post","link":"https:\/\/expat-times.com\/panama\/business-economy\/ship-exodus-from-panamanian-registry-hits-220-vessels\/","title":{"rendered":"Ship Exodus From Panamanian Registry Hits 220 Vessels"},"content":{"rendered":"\n

China continues to detain vessels flying the Panamanian flag at Chinese ports without clear justification. This practice has triggered a sharp acceleration in ships leaving the Panamanian registry. Data from Lloyd\u2019s List Intelligence shows 220 vessels have abandoned the registry since April 8. The exodus marks a dramatic increase compared to fewer than 40 departures in the first three months of this year.<\/p>\n\n\n\n

The detentions persist despite a high-level meeting between Panamanian Foreign Minister Javier Mart\u00ednez Acha and Chinese Foreign Minister Wang Yi in New York on May 26. That meeting was the first senior diplomatic contact since a Panamanian subsidiary of Hong Kong-based CK Hutchison lost its concession to operate the Balboa and Crist\u00f3bal ports<\/a>. A press release from the meeting emphasized dialogue and mutual respect. But the numbers tell a different story.<\/p>\n\n\n

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\"Port
Port Panama Canal<\/figcaption><\/figure>\n<\/div>\n\n\n

Monthly Detention Records Broken Since Port Ruling<\/h2>\n\n\n\n

May ended with 140 Panamanian-flagged vessels detained in China. That is the highest monthly figure ever recorded, according to the Asia Pacific Computerized Information System (Apcis) database reviewed by La Prensa. Between June 1 and June 9, China had already immobilized 30 additional ships. For all of 2026 so far, China has detained 439 vessels. The only apparent reason is their Panamanian registration. No technical explanations have been provided. Observers suggest the criteria appear ideological rather than technical, a possible response to the port situation.<\/p>\n\n\n\n

This year’s total already far exceeds the 256 detentions recorded throughout all of 2025. The tipping point came from Panama’s Supreme Court. On January 26, the court ruled the contract allowing Panama Ports Company (PPC), part of the CK Hutchison conglomerate, to operate the two ports for nearly 30 years was unconstitutional. The ruling was published in the Official Gazette on February 23, making the decision irreversible. Within 24 hours, the government expropriated the terminals. PPC was forced out. Temporary contracts were signed with two new operators. China responded by intensifying ship detentions.<\/p>\n\n\n\n

January saw 23 detentions. February had 19. March jumped to 92. April hit 135. May reached 140. The pattern is clear and escalating.<\/p>\n\n\n\n

Official Reactions and a Looming Agreement Deadline<\/h2>\n\n\n\n

Panama and China already have a China-Panama maritime agreement<\/a> signed in Beijing on November 17, 2017, adopted through Panama’s Law 24 of 2018. That agreement promises to strengthen friendly maritime relations based on equality, mutual benefit, freedom of navigation, and non-discrimination. But the deal requires renewal every three years. Renewal is due this month. Neither side has publicly expressed a willingness to proceed.<\/p>\n\n\n\n

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The meeting between foreign ministers in New York was supposed to signal a path forward. But the continued detentions suggest otherwise. [Translated from Spanish]<\/p>\n<\/blockquote>\n\n\n\n

The Panamanian ship registry<\/a> remains the world’s second largest. In 2025, Liberia held the top spot with 424 million deadweight tonnage (DWT). Panama followed with 371 million DWT. The Marshall Islands had 305 million. China-Hong Kong and Singapore rounded out the top five. But the exodus is reshaping the competitive landscape.<\/p>\n\n\n\n