According to the most recent assessments, Panama achieved 96.5% compliance with international standards in maritime safety and environmental protection.
As stated, the Panama Maritime Authority (AMP), through the Directorate General of Merchant Marine (DGMM), has intensified its fleet cleanup efforts, removing from the registry those vessels that do not meet the required standards.
The Panamanian fleet is periodically evaluated according to the criteria established by various international instruments, such as Memoranda of Understanding (MoUs), including Paris, Tokyo, Mediterranean, Indian Ocean, Black Sea, United States Coast Guard, Caribbean, Riyadh and Abuja and the Viña del Mar Agreement.
Moreover, data from the DGMM indicate that the Panama Ship Registry reported a net growth of 468 vessels in 2024. According to the international platform IHS Markit , a total of 8,773 ships and 248.8 million Gross Registered Tonnage (GRT) were reached at the end of the year.
In addition, as part of the strategy to attract modern and sustainable vessels, 408 newly built vessels were registered last year, representing more than 9.4 million GRT. This increase is due to the exclusive benefits that the Panamanian flag offers to this sector, as highlighted by Ramón Franco, Director General of the DGMM.
We have maintained a zero tolerance policy for any attempt to misuse the Panamanian registry. We are not a refuge for sanctions evasion. Our priority is to attract young and newly built vessels that comply with international regulations.
…said Ramón Franco.
