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.

More on this topic

Puerto Quetzal: Incentives for Intrarrregional Traffic

January 2015

Quetzal Port Company is offering a special rate with discounts up to 50% for ships carrying cargo whose origin and destination is Central America.

This project seeks to promote short sea shipping between the ports of Quetzal in Guatemala, Acajutla in El Salvador, Corinth in Nicaragua and Caldera in Costa Rica, and in this way reduce land freight traffic between countries in the region.

Panama Encourages Registration of New Vessels

January 2015

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 "...

Incentives for Vessel Registration in Panama

August 2014

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.

Study on Regional Maritime Cargo

April 2013

The preliminary results have been released from a feasibility study on the development of a Short Sea Shipping service in Mesoamerica.

As part of this project, a feasibility study was conducted over the last 12 months, which assessed the movement of cargo from ports with international traffic in the 49 countries that make up the Mesoamerican block (Mexico, Guatemala, Belize, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia and the Dominican Republic).

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