The renewal of the Panama merchant fleet is one of the quality objectives of the Panama Maritime Authority (PMA), which is why the entry of vessels under 15 years of age to the Panama Ship Registry is being prioritized, reports safety4sea.
Average age
As a result, 57% of ships registered in 2024 have an average age of four years. These vessels come mainly from the Asian market, a region in which the Panamanian Registry has technical offices (Japan, Singapore, South Korea, China, Hong Kong and the Philippines).
Debugging process
The fleet debugging process is also part of the PMA’s plan to continue positioning itself worldwide. This consists of ensuring that the vessels of the Panama Ship Registry comply with current international regulations, which is why this year more than 5 million tons of gross registration has been canceled ex officio.
To remind, last year the The Panama Maritime Authority (AMP), received a letter of approval from the United States Coast Guard congratulating the country for its qualification to the Quality Shipping for the 21st Century Program. This was the first time that the Panama Ship Registry achieved classification in this prestigious US government program.
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Source: Safety4sea
