Panama consolidates the largest ship registry in the world

Photo: Courtesy.
Editorial Dept. Voz de la Diaspora

Panama – Along the 28 years, The Panama Ship Registry has remained the largest Registry in the world with 8,617 flag ships, which translates into a total of 235.9 million Gross Tons of Registration (GRT), according to the international IHS Markit database, This represents a source of national pride and is an example of the great work carried out by the Panama Maritime Authority..

Most of the vessels that enter the Panamanian registry are bulk cargo ships (Bulk Carrier), with the 22% of the world fleet, what represents 2,725 ships and 112.1 million GRT (Gross log tons), according to the Clarksons Research platform, English company that manages databases in the maritime field.

Between January and August 2021, Panama has incorporated to its fleet 218 newly built warehouses, which provide 6.6 million of GRT and of which 61 ships are from the bulk segment.

This shows that despite the pandemic caused by Covid-19, The Panamanian Registry is still seen as a favorable option thanks to the legal security that the country provides, the attention 24/7 and at the level of professionalism and the effort of human resources.

Panama as a flag state, flag the 24 largest container ships in the world, in relation to its load capacity, which add up 5.5 million of GRT and have less than 2 years of construction.

Meanwhile, in the cruise segment, The Panama Ship Registry is among the 3 flags most chosen by shipowners, with 42 ships representing 3.4 million GRT of the Panamanian fleet.

Additionally, the performance of the Panamanian fleet at the end of July 2021 is kept in a 96.68% of compliance in relation to the different memorandums of understanding; also, the country remains on the white lists of the Paris Mou and Tokio Mou.

Panama, For more than a year it has been part of the Maritime Anti-Corruption Network (MACN for its acronym in English), reaffirming its commitment to be a transparent and responsible Registry with international compliance.