Panamanian President José Raúl Mulino met with more than 40 representatives of Japanese shipping companies to present Panama’s renewed ship registry strategy.
The initiative aims to strengthen Panama’s global leadership in maritime registration by prioritising safety, digitalisation, and environmental protection while deepening its longstanding ties with Japan.
Strengthening the Flag of the Future
President Mulino emphasised that Panama’s ship registry is not just a franchise but a national emblem backed by the state, making it unique among global registries. The updated strategy includes a fully digitalised system, stricter safety standards, and alignment with IMO’s 2050 decarbonisation goals.
Japan remains central to this vision, with 7 out of 10 Japanese shipowners flying the Panamanian flag and 41% of Panama’s registered tonnage linked to Japanese companies. Given that 66% of new shipbuilding originates in Japan, Panama aims to remain its registry of choice.
Modernising Through Policy and Technology
Merchant Marine Director Ramón Franco presented “The Panamanian Ship Registry: Renewing Our Strategy for a New Era”, which focuses on fleet safety, phasing out older ships, and introducing compulsory traceability for ship-to-ship transfers.
The approach also includes strict pre-checks and inspections to ensure compliance, reducing risks and accidents. The Panama Maritime Authority has already reported tangible progress, including a 13% increase in newbuilding registrations compared to 2024.
With 8,812 vessels and 241.5 million gross tonnes under its flag 14% of the global fleet Panama continues to dominate the global ship registry landscape. Its new strategy, backed by digital innovation and a strong commitment to safety and sustainability, seeks to further cement its leadership.
By reinforcing its partnership with Japan, Panama positions itself as the “flag of the future,” offering shipowners not only competitive advantages but also the security and stability of a nation committed to maritime excellence.
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Source: MARINE INSIGHT
