Panama: English Language in Naval Records

The Panama Maritime Authority has authorized that from now on recording of original ship mortgages will be done in English, without the need to submit translations into Spanish.

Wednesday, December 3, 2014

From a statement issued by the Panama Maritime Authority (AMP):

The Panama Maritime Authority (AMP) has hit a new milestone for the Panamanian Merchant Marine, having registered the first ship mortgage in the English language.
This procedure is of vital importance as it consolidates the Panama Merchant Marine; number one worldwide, as a vessels registration entity of the highest standards of efficiency and reliability.

"The adoption of English represents a boost to our competitiveness and serves to strengthen our global presence as a leader among ship registration countries," said the Administrator of the AMP, Jorge Barakat Pitty. "The mortgagee will receive the same document they signed, with its inscription stamp. This innovation represents an extraordinary leap for the marine industry and will lay the foundation for many other banks, to embrace this new option for mortgage inscriptions," said the Administrator Barakat.

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