Before September 2017 Panamanian vessels weighing over 400 tons must install ballast water treatment equipment, ranging in cost from $900,000 to $2 million.
Vessels in the Panamanian merchant fleet have until September 8, 2017 to purchase and install equipment for ballast water treatment and comply with the international convention for the control and management of ballast water and sediments.
Discounts of up to 35% on the registration fee and the annual consular fee will be granted to the ships registered under the Panamanian flag.
Through a resolution published in the Official Newspaper La Gaceta, the Directorate General of Merchant Marine Services has been authorized to grant discounts, additional to those contained in the legislation, to those who register ships under the Panamanian flag.
While the canal expansion is not finished the Maersk and Evergreen shipping lines are transporting goods in post Panamax ships through the Suez Canal.
The Panama Canal Authority (ACP) estimated that the temporary transfer of some of the services of Evergreen and Maersk Line shipping means they will lose out on $44 and $30 million respectively. To date, the expansion works are 75% complete and it is expected that the new locks will begin operating in January 2016.
Expectations are for an increase of between 8% and 12% due to use of space in the Caribbean Sea which until last year was under Colombian sovereignty.
According to the executive director of the Nicaraguan Institute of Fisheries and Aquaculture (INPESCA), Steadman Fagoth Müller, profits from fishing activities are expected of up to $270 million at year-end, compared with the $248 million generated last year.
The country with the largest ship registry in the world still does not have regulations for the law to homogenise maritime labor conditions.
A law passed in January 2006 does not have its respective regulations despite the fact that there are only six months left before it will come into effect.
Capital.com.pa reports that "the Panama Maritime Authority (AMP by its initials in Spanish) reported that there is already a document agreed between the parties and that it is up to the respective Executive for discussion and approval."
The organization will open up membership to foreign ship owners registered in the country.
For the first time in history, foreign-owned ships registered in Panama may join the Chamber of Shipping.
Through this membership they will have access to services and added value provided by the Chamber, such as an important network of contacts, representation in international missions, and information and training, among other things.
The country managed to get out of the gray list of the Paris Memorandum of Understanding (MOU Paris).
According to a preliminary report by the Panama Maritime Authority (AMP), the registry indicates that of the 8.391 inspections conducted between 2008 and 2010, only 485 vessels were detained, some 64 below the limit, which was of 549.
Some 765 thousand international cargo ships that will come into operation by 2010 have applied for a Panamanian flag.
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.
Alfonso Castillero, director general of Shipping, informed Prensa.com: "Singapore is the closest competitor to Panama with 852 new units, followed by Marshall Islands with 621 units, Cyprus with 458, Germany with 423 and Holland with 370. New ship registry is very important for the countries competing in this market. "
The International Merchant Marine Registry of Belize (IMMARBE) is under the Ministry of Finance, with its Head Office located in Belize City. The Registration of Merchant Ships Act, 1989 as amended in 1996 governs the merchant fleet.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (+501) 223 50 26