Panama Leads Global Ship Registration with 358 New Vessels and 8.5 Million GT

Panama has achieved a significant milestone by registering 358 newly built ships, totaling over 8.5 million Gross Tonnage (GT). This accomplishment solidifies Panama’s position as the world leader in ship registration, surpassing historical averages and establishing the Panamanian registry as the preferred choice for shipowners looking to modernize their fleets. This record-breaking performance showcases Panama’s strategic commitment to sustainability and the advancement of its maritime sector.

The Panama Maritime Authority (PMA) has played a crucial role in this success by implementing incentives and specialized benefits to attract shipowners involved in new vessel construction. The Panamanian flag offers unique advantages such as economic incentives for energy-efficient and environmentally friendly vessels, streamlined processes supported by cutting-edge technologies, and a global support infrastructure through a network of consulates and technical offices for exceptional client service worldwide. Panama’s management of 15% of the global fleet, as reported by Clarksons Research, and its registry of 8,742 vessels totaling over 249 million GT, as noted by IHS Markit, further highlight its leadership in the maritime industry.

The PMA, through its Directorate General of Merchant Marine, remains dedicated to advancing the Panamanian registry by investing in advanced technologies, enhancing workforce expertise, and seizing new opportunities in the maritime market. By continuously improving and adapting to industry trends, Panama continues to strengthen its position as a global maritime leader.

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