The Panamanian Ship Registry administered by the Panama Maritime Authority (AMP), added more than 5.9 million Gross Register Tons only in the first half of 2023, according to the institution’s database.
According to the international platform IHS Markit, at the end of June the Panamanian fleet is made up of 8,662 ships totaling 249.8 million Gross Register Tons.
The General Directorate of Merchant Marine established a competitiveness strategy for 2023 based on three quality objectives that serve to measure management during this period. The first of them is focused on improving the current retention percentage, compared to that of the last 10 years. By 2023, the Registry reports a retention of 37%, a figure that exceeds the average of the last 10 years (13.8%). In addition, transfer cancellations have decreased by 6.5%, compared to the same period of the previous year.
In the same way, an objective was established for the acquisition of existing ships that are preferably less than 15 years of age. Currently, 54% of the flagged ships this year have an average age of 5 years.
Regarding new construction, a third objective was established focused on improving the capture of this segment, at the end of June the General Directorate of Merchant Marine reported 92% progress, in relation to the period elapsed. In this sense, during the first half of the year, 152 ships have been captured, representing 4,029,826 Gross Register Tons, thus seeking the sustainability of the ship registration business and the compliance of the Panamanian fleet.
These positive figures are attributed to improvements in service, investment in technology, human resource training, and the incentive scheme provided to customers. This Administration has continued to provide support and personalized attention to its clients, in conjunction with the 53 Private Consulates of the Merchant Marine and its 22 international Technical Offices.