Panama may extend the temporary operating contracts for Balboa & Cristobal ports, which would mean continuity for APM Terminals Panama (Maersk) and Terminal Investment Limited (MSC).
While the agreements, signed and endorsed on 23 February 2026, were structured with an 18-month term, they include a clause allowing for extension if deemed in the public interest.
The contracts do not define the length, amount or specific conditions for such an extension, beyond requiring mutual agreement at least two months prior to expiry. Any continuation would be formalized through an addendum subject to approval by the General Comptroller.
According to Volney Guinard, Secretary General of the Panama Maritime Authority (AMP), cited in a recent article in La Prensa, it is not in anyone’s interest “to have a temporary operator in limbo for a certain period, but rather to have a firm contract that protects the best interests,”. After this, he said that no final decision has been made regarding a potential extension.
Following annulment of the previous contract with Panama Ports Company (PPC), the new operators were required to immediately acquire new Port Operations Systems (TOS) and Enterprise Resource Planning (ERP) systems for a minimum amount of $3.8 million. Furthermore, the interim contract details other mandatory investments up to $18 million at each port.
Five Container Ports Seeking Operators
Panama currently has five container port projects (operational or planned) seeking long-term operators: Balboa, Cristóbal & Isla Margarita, managed by the Panama Maritime Authority (AMP) and Corozal and Telfers, developed by the Panama Canal Authority (ACP)
In a previous bidding effort for Corozal in 2016, four terminals prequalified: APM Terminals, Terminal Link, PSA International and Terminal Investment Limited (TiL).
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