Panama Ship Registry, moving forward.
The Republic of Panama is a country in Central America that limits to the west with Costa Rica, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. It is important to mention that the country is home to approximately 4 million people. The ethnicity of the people is very diverse, including mestizos (the majority), native panamanian, afro-panamanian, mulatto and white panamanian.
There are different versions about the etymological origin of the name Panama but most of them agree that its origin is related to the interpretation from the spanish colonists to the indigenous dialect. According to the Guna Yala people when spanish colonists arrived to the country, they were asked where was the capital and a Guna said over there (Bannaba) and the spanish colonists interpreted as Panama, since then Panama has been related to the phrase “moving forward”.
The Republic of Panama, given its strategic geographical position and the existence of the Panama Canal, has become a pillar of the maritime trade among the nations of the world.
In 1917 the Panama Ship Registry was created with the establishment of the procedures for the nationalization of ship’s tonnage. With over a century promoting seaborne trade, Panama is currently the world largest State-owned Ship Registry with more than 8,000 vessels, summing up 217 million GT, which represents 17% of the world fleet. This responsibility also extends to over 629,000 seafarers worldwide who hold Panama competency licenses, the largest manpower ship registry globally. Furthermore, Panama has been a leader of the ship mortgage registration. The ship mortgages under the Public Registry of Panama provide confidence to banks and to the international finance community.
The income of the Ship Registry provides an important contribution to the National Treasury of the Republic of Panama. The Panama Ship Registry recognizes the importance to be adapted to the maritime changing environment and commits to the improvement of the quality of the services to meet the needs and requirements of the clients.
Our three pillars of commitment:
- Safety and Prevention – We are strongly committed to safety of human life, pollution prevention and navigation safety, ensuring strict compliance with all international regulations and conventions of the IMO. We are committed to the improvement of the performance in the Port State Control.
- Sustainability – Sustainability is crucial in the maritime industry and this is why the Panama Ship Registry promotes the efforts of ship-owners and shipbuilders who invest in technology that reduce pollution through the attractive programs incentives: Green and Eco ships.
- Economic – Competitive fees through a multiple discount scheme.
- Newbuilding vessels – Vessels registered in the Merchant Marine within five years from the date of the laying down of the keel
- MODUs ships – MODUs ships which can show that they have been registered in the Merchant Marine and who re-apply for registration no later than two years after this law comes into effect.
- Good performance – These incentives are also directed to vessels that have not been detained for any Port State Control inspection within a twenty-four month period, vessels belonging to economic groups, among other features.
Our competitive advantages:
- – Competitive price and service.
- – Your investments are backed up by a State-owned ship registry.
- – 24/7 Segumar.
- – No limitations regarding the ship’s construction country or the nationality of the seafarers.
- – Worldwide coverage.