Panama Ship Registration

 

Advantages of Ship Registry in Panama

Panama is an international maritime center. The Panama Flag runs today over 72%+ of all vessels currently trading in the world´s oceans. The Panama Canal plays unquestionably a very important role in worldwide maritime transportation. 

The Panama Registry offers many advantageous facilities to shipowners who wish to register their vessels under the Panamanian flag.  Following are some of the advantages offered by the Panamanian Registry.

Ownership – All Nationality are welcomed
Tonnage – Minimum tonnage is not required
Pre Registry Surveys – Are not mandatory , except for vessels over 20 years of construction
Technical Certificates - Panamanian Ship Registry does not required that  vessels be re-surveyed. Panama Ship Registry has recognized a diverse and  qualified RO´s wish provide the owners with alternatives when it comes to obtaining technical certificates
Competitive Costs - Discounted Registration Rates for Fleets
Fleets with 5 to 50 vessels may receive discounts from 20% up to 65%   on registry fees.
Dual Registry -  The Panama Ship registry accepts bare boat chartered for a period of two years. The Dual Registry System is mostly used by European ship owners that seek cost reduction and flexibility among other considerations.
Registration Procedures - A Provisional Patent is applied for and issued for a six month period, which can be extended for another three month period.  A Permanent or full term patent is issued once owner has submitted, the vessel’s title documents (mainly bill of sale, or construction certificate, when new, technical certificates, among others) additionally, a Radio License is required for all vessels in the Panamanian Registry. 

Preliminary Registration of Title/Mortgage

The procedures for the registration of a Preliminary Registration of Mortgage and Title Deeds are straightforward so that the whole process can be expeditiously completed.  Panama has an extensive network of worldwide maritime consular offices, located in major ports.

Naval Mortgages – The Panama Public Registry is today the most prestigious, trusted and preferred by banks and financial institutions that seek to securing there credits.
Special preliminary naval mortgage are available for ships under construction.
Most of the banks that are providing credit for maritime purposes, grant full acceptance of the Panama Naval Mortgage registration system.

Classifying societies

All prestigious  classifying societies as well as IACS are authorized by the Panama ship registry (Segumar)  authorities to survey Panamanian vessels.

Panama’s Maritime Court - Panama’s Maritime Court is enjoys of  worldwide recognition for its efficiency and compliance with global maritime standards.  The Panama Maritime Courts are available 24/7, year round.
International Standards – Statistically The Panama Vessel  Registry is recognized as holding one of the world’s highest grades , when it comes to records in environmental and safety compliance, and vessel loss prevention.