- PMA Enhances Oversight with Stricter Vessel Compliance Measures.
- Panama Flagged for 15% of Global Merchant Fleet Tonnage.
- DGMM Enforces Zero-Tolerance Policy Against Registry Misuse.
Panama attained 96.5% of worldwide maritime security and environmental safeguard norms, boosting the credibility of the Panama Ship Registry. This achievement has ensured its fleet complies with international guidelines, further augmenting the registry’s quality and status, reports Panama Ship Registry.
Systematic Assessments Along Major Frameworks
The Panamanian fleet is regularly assessed according to the standards set by large international Memoranda of Understanding (MoUs). These are guidelines from areas like Paris, Tokyo, the Mediterranean, the Indian Ocean, the Black Sea, the U.S. Coast Guard, the Caribbean, Riyadh, Abuja, and the Viña del Mar Agreement.
Increased Oversight and Ship Removal
To enhance fleet excellence, the Panama Maritime Authority (PMA), through the General Directorate of Merchant Marine (DGMM), has increased inspections and taken out non-compliant ships. This fleet optimization initiative reflects Panama’s commitment to marine excellence and sustainability.
Global Recognition of Panama’s Merchant Fleet
The most recent World Fleet Monitor report by Clarksons Research places Panama well as the flag state for 15% of the world’s merchant tonnage fleet. The position reflects Panama’s prominent positioning in the international maritime sector.
Zero-Tolerance Policy for Non-Compliance
“We maintain a zero-tolerance policy against any misuse of the Panama Ship Registry. We are not a shelter for sanction evasion. Our priority is to attract modern, newly built vessels that fully comply with international regulations,” stated Ramón Franco, Director General of the DGMM.
Solid Expansion and Fleet Upgrading
The Ship Registry of Panama grew by 468 ships in 2024 to reach 8,773 ships and 248.8 million Gross Register Tonnage (GRT) as per data from DGMM and IHS Markit.
Registration of Modern Vessels
In 2024, Panama registered 408 newly built ships, contributing over 9.4 million GRT. This fleet expansion reflects Panama’s strategy to attract sustainable, modern vessels. “The exclusive advantages offered by the Panamanian flag are key to maintaining its position as the world’s leading ship registry,” emphasized Director Franco.
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Source: Panama Ship Registry
