Panama City is 15 hours behind Melbourne
Best overlap: 8:00 AM to 9:00 AM in Melbourne is 5:00 PM to 6:00 PM in Panama City.
For a call that suits both sides, look at 8:00 AM to 9:00 AM in Melbourne / 5:00 PM to 6:00 PM in Panama City. Panama City is 15 hours behind Melbourne, so you only get about 1 hour of overlap a day — worth locking in a standing time like 8:00 AM in Melbourne (5:00 PM in Panama City) before it slips. Don't get caught out: Panama City is the previous day from Melbourne, so "tomorrow" means different things to each team. Keep an eye on the calendar — Melbourne observes daylight saving and Panama City doesn't, which nudges this window by an hour twice a year.