The concession crisis takes a toll on Balboa and Cristóbal ports, which see a drop in container traffic

The Panamanian ports of Balboa and Cristóbal have recorded a decline in container movement during the first four months of the year, according to data from the Panama Maritime Authority.

Between January and April, the port of Balboa reduced its activity by 16.4%, while the port of Cristóbal suffered an even greater decline of 41.6%. This drop in results could be a consequence of the controversies surrounding the ports, after the Panamanian government annulled the concessions held by Panama Ports Company (PPC), a subsidiary of CK Hutchison.

As a result, temporarily and with approved licenses, APM Terminals, a subsidiary of Maersk, is managing the port of Balboa in its place. Meanwhile, Terminal Investment Limited (TIL), linked to MSC, is in charge of Cristóbal.

According to experts, this situation has forced a reorganization of port management, causing some operational adjustments that have temporarily affected maritime traffic. Part of the cargo has been diverted to other terminals in Panama and the region, which is why container traffic has decreased.

Photo: Panama Maritime Authority