In the first nine months of the year, 2.8 million barrels of marine fuel were sold, 38% more than was sold in the same period in 2016.
According to figures from the Panama Maritime Authority (AMP), the sale of marine fuel during the first three quarters of 2017 increased by 38% in year-on-year terms, rising from 2 million barrels between January and September 2016 to 2.8 million barrels in the same period in 2017.
Starting from October 17, the Panama Maritime Authority will be opening new offices in London, Manila, and Dubai for the international registration of vessels.
The aim of the Panama Maritime Authority is to have a closer relationship with international clients, and to increase registration of vessels from non-traditional markets such as gas, cruise ships and yachts, since "...
The Panamanian government has announced that until the dispute over tariffs is resolved, it will keep in abeyance the agreement signed with Colombia to buy two ships for $30 million.
As part of the trade dispute caused by the tariffs imposed by Colombia on imports of Panamanian footwear and textiles, the Varela administration has announced the suspension of a contract signed in October with Cotecmar, a company linked to the Colombian Defense Ministry.
The two countries have signed an agreement to avoid double taxation of income in the commercial use of ships and aircraft.
From a statement issued by the Ministry of Foreign Affairs:
The Republic of Panama and the Federal Republic of Germany, signed an agreement to avoid double taxation with respect to taxes on income, and with respect to international commercial use of ships and aircraft.
The Chinese giant Cosco Shipping Group has announced new business strategies, which involve the passage of ships carrying 14,000 TEUs through the Canal and transshipments on the Pacific coast.
The interest of Cosco Shipping Group in transporting goods through the country confirms once again the need for Panama to accelerate approval of the project to build a new port terminal in Corozal, and with thesame benefits as offered in other ports.
In order to reduce the average age of the fleet the Maritime Authority is offering discounts until December 2016 of up to 100% on the rate of registration of new vessels.
Resolution 106-67-DGMM published in La Gaceta:
FIRST: grant a waiver which is additional to the discounts provided for in the Act No. 57 of August 6, 2008 based on the Article 8. of up to one hundred percent (100%) on all those newly built vessels that fall under the Panamanian Merchant Marine from the effective date of this Resolution until December 31, 2016, from the following fees and charges;
A bill aims to take advantage of the business of flagging large vessels in order to provide financing options locally.
The initiative aims to capitalize on two elements: being the leading country worldwide for flagging ships and having an international financial center with capacity to finance works and large projects.
Jose Isabel Quintero, deputy director of the Public Registry of Ships Liens and Title of the Panama Maritime Authority (AMP), told Prensa.com that "... Before introducing the bill in the National Assembly a consultation process will be undertaken with banks, insurers, reinsurers and clubs for ship owners .... 'The Panamanian government should now enter a phase of maturity which entails benefiting from the strategic resources'. "
The new Panama Canal toll structure will come into effect on April 1, 2016, except for the new segment of Internal Maritime Cluster which is already in effect.
From a statement issued by the Maritime Authority of Panama:
PANAMA CITY, Panama, April 29, 2015 - The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.
With the new tariff scheme the Panama Canal Authority intends to exploit economies of scale by encouraging the passage of vessels at maximum capacity with lower rates.
The proposal by the Panama Canal Authority (ACP by its initials in Spanish), indicates in short, that larger capacity vessels would agree to transit the neopanamax locks in order to access best rates and take advantage of economies of scale.
Presenting it as a way of promoting the expanded Canal, shipowners have asked the Canal Authority to charge different rates depending on the type of cargo being shipped.
Among the comments submitted by four companies highlights the establishment of special rates to stimulate the shipping market, such as for vessels that require some kind of repair and other fees for ships carrying liquefied gas.
The Maritime Authority has implemented an electronic system that streamlines the process of flag registration and automates the application of economic incentives for newly registered boats.
This new way of applying economic incentives for newly constructed ships simplifies the process and eliminates "... the submission of a formal discount via memorial (before flag registration), the manual calculation of the amounts payable by ship which was done by the Directorate and sets out equal application of these incentives. "
From January 2015 companies that inspect and certify foreign ships under the Panamanian flag must be audited by the Maritime Authority so that the quality of services provided can be assessed.
From the resolution given by the Board of the Maritime Authority of Panama:
First article: order execution of an AUDIT PLAN for all auxiliary entities which are Recognized Organizations, Classification Societies and Recognized Security Organizations approved by the Republic of Panama, for the purpose of determining management, competition, means, capacity and quality of services, which will start from 2015, under the parameters of Resolution MSC.349 (92) adopted on July 21, 2013, Resolution No. 106-11-DGMM of March 16, 2009. ... And the international conventions ratified by the Republic of Panama.
The ACP is preparing the prequalification process and negotiated tender for the design, construction, development and operation of a container port in the area of West Corozal.
The port will be developed on land owned by the Panama Canal Authority (ACP), and will be done in two stages, which include "... A construction area of 2,081 linear feet of piers, patio and container structures such as offices and warehouses. "
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.
The Panama Maritime Authority is putting out to tender the service of operation and maintenance of a LRIT Ship Center for $10 million.
Panama Government Purchase 2014-2-03-0-08-LA-003678:
"Operation and Maintenance Service in the Republic of Panama of LRIT Ship Center (LRIT Center) , acting as the sole provider of service application (PSA) and National Data Center (NDC) authorized by the Republic of Panama.