Bonuses for Flagging Vessels in Panama

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.

Monday, August 3, 2015

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;
• Registration Fee
• Annual Consular Fee
• Accident Investigation Rate
• Inspection rate
• Rate of 0.03% per ton net.

SECOND: Inform that the exemptions set out in Article I of this Resolution shall apply to all vessels of new construction with a gross registered tonnage in excess of 10,000 GRT, and whose construction has been made in shipyards in Japan. Hong Kong, the People's Republic of China, the Republic of Singapore, South Korea, the Republic of China (Taiwan), the Philippines, Indonesia, Vietnam, France, Germany, Norway, Holland, Italy. The benefit conferred by this resolution shall also apply to newly constructed vessels who enroll in the National Merchant Marine, from the effective date of this Resolution until December 31, 2016.

See full resolution here.

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