Panama Maritime Authority Achieves 96.5% Compliance Rate in Maritime Safety Standards

Panama has achieved an impressive 96.5% compliance rate with international maritime safety and environmental standards. The Panamanian fleet is regularly evaluated based on criteria set by key international frameworks, including Memoranda of Understanding (MoUs) with organizations such as Paris, Tokyo, and the U.S. Coast Guard. The Panama Maritime Authority (PMA) has intensified oversight through the General Directorate of Merchant Marine (DGMM), removing vessels that do not meet safety and compliance standards. This commitment to excellence is reflected in Panama’s ranking as the flag state for 15% of the world’s merchant fleet tonnage, according to the World Fleet Monitor report from Clarksons Research.

The Panama Ship Registry saw a net growth of 468 vessels in 2024, closing the year with a total of 8,773 ships and 248.8 million Gross Register Tonnage (GRT). The registry attracted 408 newly built ships in 2024, contributing over 9.4 million GRT. This growth underscores Panama’s strategy to attract modern and sustainable vessels. Director General of the DGMM, Ramón Franco, emphasized the country’s zero-tolerance policy against misuse of the registry, stating that Panama is not a haven for sanction evasion. The focus is on attracting vessels that fully comply with international regulations.

The Panama Maritime Authority’s efforts to enhance fleet quality have been successful, with the country maintaining its position as the world’s leading ship registry. The commitment to excellence and sustainability is evident in the fleet optimization strategy implemented by the DGMM. The exclusive advantages offered by the Panamanian flag continue to attract modern vessels, showcasing Panama’s dedication to maintaining high standards in maritime safety and environmental protection.

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