24 JUNE 2020

The Panama Ship Registry closes its first semester with positive numbers, despite the crisis produced worldwide in various sectors of the economy, due to the pandemic caused by Covid -19, which keeps Panama leading the flagging of ships for more than 27 consecutive years.

During these first months of the year (2020), 444 new ships have been registered, representing 13.1 millions of gross register tons for our fleet. "The coordinated work of a team determined to exceed the proposed goals is key to maintaining our position and continuing with positive numbers," said Eng. Rafael N. Cigarruista G., General Director of Merchant Marine of the Panama Maritime Authority (AMP).

According to the statistics published in May of this year by Clarksons Research (English company that administers a database in the maritime field), the Panama Ship Registry had a growth of 0.4% in terms of gross register tons, such measurement by Clarksons Research is published monthly and this is the first time in the last 20 months that the percentage has been recorded in positive numbers for Panama.

Out of the 444 new ships in the Registry during these six months, 140 are newly built, which benefits in terms of reducing the average age of the Panamanian fleet, which is currently 18.3 years (including the international fishing fleet).  Additionally, these newly built ships add up a total of 6.1 millions of gross register tons.

Regarding the types of registered ships, Panama continues to be the world leader in bulk cargo ships, and so far in 2020, a total of 123 ships of such type entered the Registry. It is important to highlight that, although a decrease in new constructions and an increase in ships that will be sent to scrapping (dismantling of the ship due to end of useful life) is expected, we must be optimistic and take measures that help us continue to improve.

The Registry has kept 100% operational during the new coronavirus pandemic; thanks to this, different elements that make up its business model have continued to function regularly, thus not expanding the global unemployment statistics. Furthermore, as it is a state registry, it continues to contribute significant income to the country, which translates into investments for sectors such as education, housing, roads and health.

Without a doubt, the Panamanian registry, is aiming to continue with the necessary strategic measures to maintain its edge in the world maritime sector.