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.

Alfonso Castillero, director general of Shipping, informed "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. "

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Growing competition of Flag States in Panama

February 2013

A recently passed tax reform in Greece joins the other threats to the registration of ships in Panama.

A tax reform recently passed by the Greek parliament could affect the registration of ships in Panama.

This tax reform will have consequences for the country’s ship owners who control about 16% of the world’s merchant fleet.

Vessel Registration in Panama

February 2012

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.

The Directorate General of Merchant Marine seeks to increase the international registration of ships carrying the Panamanian flag, attracting new customers or operators.

Panamanian Maritime Chamber Membership More Flexible

November 2011

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.

Panama Purges Shipping Registry

January 2011

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.

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