Panama Continues on Top in Maritime Registry
Some 765 thousand international cargo ships that will come into operation by 2010 have applied for a Panamanian flag.
Monday, March 30, 2009
In the competition that several nations have for ship registry, Panama continues to exert its leadership, particularly in the important area of new vessels, followed by Singapore where 852 new ships have requested registry.
The organization will open up membership to foreign ship owners registered in the country.
A recently passed tax reform in Greece joins the other threats to the registration of ships in Panama.
The country managed to get out of the gray list of the Paris Memorandum of Understanding (MOU Paris).
The registration of vessels carrying the Panamanian flag represents 22.3% of the worldwide maritime fleet, contributing $70 million to the state and another $200 million to the economy indirectly.
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