Panama faces maritime registry decline and canal operational shifts

Panama has fallen to third place globally in terms of gross tonnage (GT) registered under its flag, according to Clarksons Research data. The country's fleet decreased by 12.3%, dropping from 230.5 million GT at the end of 2025 to 202.1 million GT by August 2026. The Marshall Islands has overtaken Panama for the second position, increasing its tonnage by 7% to 209.4 million GT, while Liberia remains in first place.

The decline in Panama's maritime registry is linked to an acceleration of vessel flag changes following increased inspections and detentions of Panamanian-flagged ships by China. This tension reportedly stems from disputes regarding port concessions in Balboa and Cristóbal. The U.S. Federal Maritime Commission has noted it is monitoring what it describes as retaliatory actions by China against Panamanian vessels.

Separately, the Panama Canal Authority (ACP) has postponed new draft restrictions for Neopanamax vessels, maintaining a 48-foot draft through December. This decision follows improved water levels in the Gatun and Alhajuela lakes due to favorable rainfall. While current conditions allow for an average of 32 daily transits, officials warned that restrictions could return during the upcoming dry season.