SIMIC

PANAMA Ship Registry has maintained its leading position globally with 8,540 vessels and 251.1 million gross tonnes, according to the international platform IHS Markit.

While in the latest World Fleet Monitor of the year by Clarksons Research Platform, the Panamanian flag is on 16 per cent of the ships that make up the world fleet.



During the last year, the Registry had a net increase of 83 ships representing 7.2 million GT and maintained a retention rate of 29 per cent, as reported by the Panama Maritime Authority database. Overall, this Administration has maintained an average retention rate 28 per cent which is an improvement on the 10-year rolling average of 14 per cent.



A breakdown of the ships that entered the Panamanian fleet in 2023 shows that 56.7 per cent of the ships are less than 15 years old and had an average four-year age. Of these, 339 are newbuildings, which add up to more than 8.3 million GRT, with which the General Directorate of Merchant Marine achieves 93.75 per cent compliance with its objective of attracting vessels of this segment.



It is significant to mention that last year the Panama Ship Registry by responsible means cancelled officiously 161 vessels representing 1,287,604 GT and with an average age of around 17 years. Within this group are 78 vessels associated with unreported and unregulated fishing.