Panama solidified its position as one of the region's main logistics hubs in 2025. The five ports located near the Panama Canal handled nearly 10 million TEU. The country's leading terminals show impressive performance and are managed by major international companies. 1. Port of Manzanillo (MIT), Atlantic The Port of Manzanillo (MIT), operated by the U.S. multinational SSA Marine, is the country's largest container port, handling over 2.86 million TEU in 2025, according to preliminary data from the Panama Maritime Authority (AMP). Built on the site of a former U.S. naval base, it has operated as a transshipment terminal since 1995 and has a capacity of 3.5 million TEU. SSA Marine operates more than 250 terminals on five continents, including ports in Panama and Costa Rica. 2. Port of Balboa, Pacific The Port of Balboa has been operated by Panama Ports Company (PPC) since 1997, which has been owned by CK Hutchison Holdings since 2015. It handled 1.73 million TEU in 2025, ranking third nationally. Located on the site of a former U.S. military base, it has an annual capacity of 2.4 million TEU. Evergreen Marine Corporation manages around 240 ports in 80 countries. 3. Port of Colón, Atlantic The Port of Colón (CCT) is part of the Taiwanese Evergreen Group and has been operating since 1997. However, its operation was frozen by China amidst the standoff with Washington. President José Raúl Mulino announced that the Balboa and Cristóbal ports will be put up for a new concession, and while the ruling is being executed, both will be temporarily operated by APM Terminals Panama, a subsidiary of the AP Moller-Maersk group (Netherlands). 4. Port of Rodman, Pacific The Port of Rodman is operated by PSA Panama International Terminal, a subsidiary of the Singapore-based PSA International group. The five main ports of Panama, located in areas adjacent to the Panama Canal, are under scrutiny. It is the second port by traffic volume, with 2.67 million TEU in 2025, and an annual capacity of 5 million. The Hutchison group operates 53 ports in 24 countries, distributed across Asia, Europe, Africa, the Americas, and Australasia. 5. Port of Cristóbal, Atlantic The Port of Cristóbal, also under CK Hutchison Holdings, closed 2025 with 1.21 million TEU, ranking fifth in the country. It has a capacity of 2 million TEU per year. It started operations in 2010 and can handle up to 2.5 million TEU annually. Two of them, operated for nearly three decades by a subsidiary of Hong Kong's CK Hutchison Holdings, will change hands after the Supreme Court of Justice declared the concession contract unconstitutional. The ruling responded to two lawsuits filed last July by the Comptroller General, Anel Flores, who described the contract as 'leonine' and harmful to the nation's interests. The decision is final and directly affects the ports of Balboa (Pacific) and Cristóbal (Atlantic). The ruling comes amidst a tense geopolitical climate. The United States, during 2025, maintained a pressure campaign highlighting China's presence in strategic areas of the canal, an 82-kilometer route through which 3% to 6% of world trade flows. In that scenario, the Hong Kong conglomerate had agreed to sell its concession in Panama as part of a global transaction of more than 40 terminals valued at $23 billion to a consortium led by BlackRock.
