Panama’s Maritime Watch: Panama Ship Registry slipped to 3rd in global tonnage rankings, as Clarksons flags a “fresh start” focused on refusing or canceling underperforming vessels amid sanctions and geopolitical frictions. Canal & Shipping Costs: Panama Canal constraints are feeding into higher transpacific freight rates, with Yang Ming citing tighter capacity and congestion as rates stay elevated despite seasonal slowdown. Digital Payments Rollout: Apple expanded Tap to Pay on iPhone to Panama (plus seven more countries), letting merchants accept contactless payments with an iPhone—no extra terminal required. EU Tax Compliance: European Commission President Ursula von der Leyen told President José Raúl Mulino in New York that Panama’s progress toward Annex 2 is moving forward, including implementation of the Law on Economic Substance. Security & Regional Cooperation: Panama is among countries backing the “Shield of the Americas” plan to freeze assets and restrict visas for 24 “narco-terrorist” groups, aligning regional security and economic coordination. Cyber & Risk: ESET reports China-aligned FamousSparrow expanding in Latin America with a new backdoor, SparroWocky, targeting governments. Climate Pressure: El Niño forecasts warn of major heat impacts and food-price volatility, with Panama Canal disruptions cited as an added logistics risk for commodity supply chains.