Shares of BigBear.ai Holdings Inc (NYSE:BBAI) moved higher Wednesday, rising 2.2% following the announcement of a commercial agreement with PTG (Panama Transshipment Group) to roll out an AI-enabled cargo security management solution.
PTG, identified as Panama's largest logistics operator, is the first customer to implement the International Shipping Compliance application that BigBear.ai developed in collaboration with Narval. The companies said the technology is already in use at PTG to bolster transparency across the supply chain.
The deployed cargo security solution incorporates biometric verification to link drivers and transport vehicles to specific containers and security seals, producing an auditable chain of custody from origin to destination. In addition, the platform consolidates real-time fleet and driver data, enabling logistics operators to detect irregularities and continually monitor cargo movements.
Narval Holding Corp. and its subsidiary, International Shipping Compliance S.A. introduced the application together with BigBear.ai in August 2025.
Troy Miller, Senior Vice President of Department of Homeland Security Solutions at BigBear.ai and former acting U.S. Customs and Border Protection commissioner, said: "Even the best customs and law enforcement agencies around the world can only physically inspect a fraction of global cargo. The answer is not slowing commerce. It is making supply chains smarter, more transparent, and more secure. Criminal organizations no longer rely solely on covert routes or hidden smuggling corridors. Today, they exploit the very arteries of legitimate global commerce—ports, free trade zones, trucking routes, and containerized cargo systems that power the world economy. That is what makes this new commercial deployment in Panama so significant, and why others can learn from the rapid implementation."
The company noted that the solution meets BASC and C-TPAT international security standards. The announcement highlighted the scale of Panama's port operations, which handle approximately 10 million TEUs annually, with nearly 90% associated with transshipment activity.
Context and implications
The commercial deployment in Panama represents the initial customer rollout of the International Shipping Compliance application produced by BigBear.ai and Narval. According to the companies, the combined biometric and telemetry approach creates an auditable record across the logistics chain while bringing continuous monitoring capabilities to operators managing container flows.
Market reaction to the announcement was modest but positive in the near term, as reflected in the 2.2% share price increase. The agreement places the application in an environment with heavy transshipment activity, where tracking and verification solutions can be applied to a large volumetric flow of containers.
Sources and limitations
This report is based on the companies' announcement of the commercial agreement and the factual details they provided regarding the application, its capabilities, compliance with security standards, and the scale of Panama's port system. No additional outcomes, commercial terms, or implementation timelines beyond those described by the companies were specified in the announcement.