Panama continues to lead the world ship registry

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By LatAm Reports Editor

The Panama Maritime Authority (AMP) reported that Panama’s ship registration continues its world-leading position with 8,540 ships and 251.1 million Gross Registration Tonel (TRB), according to the international platform IHS Markit.

While at the latest World Fleet Monitor of the year of the Clarksons Research platform, the Panamanian flag waves on 16% of the ships that make up the world fleet.

According to figures from the AMP database, over the past year, the Register had a net growth of 83 ships representing 7.2 million tonnes of gross registration (TRB) and maintained a retention of 29 per cent.

On average, this Administration has maintained a retention of 28 per cent, an improvement on the average over the past 10 years, which was 14 per cent.

As for the ships that entered the Panamanian fleet in 2023, it is highlighted that 56.7% of the ships are under 15 years of age and had an average age of 4 years.

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Of these, 339 are newly built ships, which total more than 8.3 million TRB, so the General Directorate of Merchant Navy gets 93.75% of compliance in its target of attraction of ships of this segment.

It is important to mention that last year the Register responsibly cancelled 161 ships representing 1,287,604 of TRB and with an average age of 17. Within this group are 78 ships related to unreported and unregulated fishing issues.

During this administration (July 2019 to date), the Register has added 33 million TRB, according to Clarksons Research’s World Fleet Monitor report. Similarly, this report mentions the growth of the flag at the close of 2023 is 2.9%.

This article has been translated from the original which first appeared in Panamerica