The Bay of Portobello was discovered by Christopher Columbus on 2 November 1502 during his fourth trip. In 1586, the Spanish Crown chose Portobello as the Caribbean transhipment centre because of its magnificent harbour and convenient location. The city of San Felipe de Portobello was established and later became one of the most important sites for transferring South and Central American riches. From this port, tons of gold and silver flowed to the commercial capital of the Spanish empire, Seville. Between 1574 and 1702, forty-five fleets of galleons were sent forth, none of which carried less than thirty million pesos of riches. Ruins of the solid fortification can still be seen today.
