President José Raúl Mulino met with more than 40 representatives of shipping companies from Japan’s Kanto region, where he presented Panama’s new ship registry strategy aimed at safeguarding its global leadership through enhanced safety standards and fully digitalized processes.
Mulino emphasized that Panama’s registry is positioning itself as the flag of the future, driven by new policies aligned with international benchmarks for safety, efficiency, and environmental protection.
The stakes are high for Japan: 7 out of 10 Japanese shipowners already fly the Panamanian flag, and 41% of Japan’s total tonnage is registered under Panama. For Panama, consolidating its role as Japan’s preferred registry is vital, as 66% of new shipbuilding comes from the Japanese market.
Reflecting on the registry’s long history dating back to the 1920s, Mulino stressed that unlike other registries, Panama’s flag is not a maritime franchise but a national emblem backed by the full weight of the state. He also revealed that his administration is pushing forward a comprehensive modernization plan for the registry, framed within a broader maritime and logistics strategy that integrates the Canal and Panama’s port system.
Joining him were Panama Maritime Authority (PMA) Administrator Luis Roquebert and Merchant Marine Director Ramón Franco, both of whom reinforced the president’s message.
He highlighted that the PMA has successfully diversified its services, now offering integrated solutions in over 50 countries. “Thanks to our broad network of partners and our expertise, we provide unmatched technical, legal, and diplomatic support,” Roquebert said.
Merchant Marine Director Ramon Franco presented “The Panamanian Ship Registry: Renewing Our Strategy for a New Era,” outlining Panama’s new direction and the competitive advantages it offers.
He explained that the Mulino administration’s guiding principle is quality over quantity, focusing on:
Franco also underlined Panama’s pioneering role as the first registry to enforce mandatory traceability for ship-to-ship (STS) transfers, part of a strategy to modernize the fleet by gradually phasing out older tonnage and aligning with the IMO’s decarbonization goals for 2050.
As of August 25, 2025, Panama’s ship registry includes 8,812 vessels totaling 241.5 million gross tons (GT), according to IHS Markit—representing 14% of the global fleet, based on Clarksons Research’s World Fleet Monitor.
Franco reported that the new strategy is already delivering results: fewer accidents and a 13% increase in newbuilding registrations compared to the previous year. He closed by reminding Japanese shipowners that Panama’s registry offers more than just a flag—it comes with the full backing of a country that provides political and economic stability, a robust banking system, special economic zones, investment incentives, world-class logistics hubs, and, of course, the Panama Canal.
