Currently the Panama Registry, through its incentive program for shipowners and companies, promotes the construction of efficient ships that generate less pollutants. Among the special incentive options is the Eco Ship and New Construction incentive.
These incentives exist in Panama’s regulation since 2014, and 2008 respectively; to support the industry and fulfill our commitment to the environment, according to the director of Merchant Marine and head of the Ship Registry, Rafael Cigarruista.
In November 2021 during the celebration of COP26 Panama signed the Declaration of Zero Emissions in the Maritime Industry by 2050, whose main objective is that the signatories commit to reduce international shipping to zero emissions while working with the IMO to adopt targets for 2030 and 2040 to achieve the decarbonization of the industry by 2050.
Similarly, Panama is one of the countries declared as carbon negative in the world. Panama has given its support for the creation of the Research and Development Fund, which will be managed by the International Maritime Research and Development Board (IMRB) and supervised by the International Maritime Organization (IMO), to accelerate the development of new technologies in maritime transport, necessary for the decarbonization of the sector.
Currently, the directors of the Registry are reviewing possible new implementations related to Annex VI of MARPOL, where incentives will be introduced for ships that demonstrate compliance in terms of design, fuel type and operational measures that reduce polluting emissions.
The Panama Ship Registry is in permanent contact with its industry stakeholders, and is open to consultations to consider opinions and suggestions which can become part of the decision-making process and their introduction, in a broad and holistic manner, in the guidelines that the Panama flag will follow
