Container movements in Panamanian ports were up by 18.2% the first half of 2024, according to data from the Panamanian Maritime Authority. A total of 4.75 million TEU (20-foot containers) were moved, 730.000 units more compared to the same period in 2023. Compared to the first half of 2022 13.5% more containers were handled.
All six container terminals of the national port system saw increases in movements the first half year of 2024. Bocas Fruit Co. the smallest port in terms of container movement, experienced the largest rise, with 77% (totalling 70,590 TEU). PPC – Cristobal came next with an increase of 32% (totalling 564,044 TEU) followed by PSA Panama International Terminal port with 24% (totalling 687,192 TEU).
The port that moved the most containers first half of 2024 was SSA Marine MIT with 1.39 million TEU in the first half year (+10%), followed by Panama Ports Company Balboa with 1.24 million TEU (+14.6%).
The increase was mainly driven by an increased flow of regional trade, the greater flow of transshipment cargo between Pacific and Atlantic ports by truck and rail (driven by restrictions on Canal transits) and a surge in imports.
Transshipment movements were up by 19.9% first half of this year and comprise almost 90% of total. The other destinations are the local market (9.6%) and free zone (the rest).