Source: FreightWaves
Summary
The Federal Maritime Commission (FMC) reported that nearly three-quarters of vessels held at Chinese ports in March were registered to Panama, a significant increase from historical norms. FMC chairman Laura DiBella highlighted this trend, which has been observed in the shipping industry.
Our Reading
The trend returns with a new name. Panama’s flag has become a familiar sight in Chinese ports, echoing the country’s long history as a popular flag of convenience. This phenomenon is not new, but its scale is noteworthy. The FMC’s data suggests a concentration of vessels under the Panamanian flag, which may indicate a shift in global shipping patterns. The question remains: what’s old is new again in the world of maritime trade.
Author: Evan Null
