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Panama Ship Registry grows 4.1% under new administration

Panama Ship Registry grows 4.1% under new administration
The Panama Ship Registry has grown by 4.1% during the first year of its new Administration.

During the first year of the new administration the Panamanian fleet has seen an increase of 8.m gt, or growth 4.1%. A third of new registrations being new build vessels financed by international banks that continue depositing their confidence in Panama as a maritime centre with competitive advantages.

The Directorate General of Merchant Marine that oversees the Ship Registry has put priority on being more customer-focused and modernised its systems of procedures to streamline and improve different working methods, ensuring better customer service; international compliance and an aggressive and active international marketing plan.

"The Panama Ship Registry has taken a turn and is beginning to strengthen its registry business, with a view to re-enforcing its position as a world leader, by taking innovative and conjunctural measures which positively impact the global shipping industry; this will become increasingly evident, due to the re-engineering and modernisation implemented," said Rafael Cigarruista, director general of Panama’s Merchant Marine. 

“To maintain our leadership, indicators and measurements have been established in the procedures. The goal is to bring fresh tonnage and the number of ships needed to maintain the sustained growth that the registry had lost in past years,” added Cigarruista.

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