Panamanian authorities have discovered 208 packages of cocaine on an ER Schiffahrt-managed containership.
The seizure was made on the 3,430-teu Celina Star (built 2001) at Colon on Saturday.
The drugs were hidden in ventilation pipes, the Panama America website said.
The vessel had arrived from Buenaventura in Colombia, en route to Spain.
No arrests were made and the ship has left the port.