Panama Maritime Authority

The US Maritime Administration visits its Panamanian counterpart

Jorge Barakat recibe a miembros de la delegación de Estados Unidos.

The Executive Director of the US Maritime Administration, Joel Szabat, accompanied by a delegation, visited the Panama Maritime Authority (AMP).

He held a meeting with the administrator of the AMP, Jorge Barakat Pitty, and part of his management team.

Barakat Pitty and the US officials discussed some of the changes that are taking place to increase security in maritime matters, such as the process of implementing new systems to increase security; in the issuing of [...]

CMP and AMP foster growth of auxiliary maritime industry

In order to further strengthen the logistics and maritime potential of the country, the Board of the Panama Chamber of Shipping (CMP) met with Jorge Barakat, director of the Panama Maritime Authority (AMP) and the Director of Ports, Gerardo Varela, to receive updates on the current management of the AMP.

Highlighted was the progress of building a dock for the auxiliary maritime industry, which is expected to be tendered in January 2016.

“We’ve received a [...]

Panama re-elected among the 10 most important

Jorge Barakat.

Jorge Barakat, administrator of the Panama Maritime Authority (AMP) announced that Panama was re-elected among the 10 most important maritime countries in the world.

According to the official, this achievement was possible thanks to the capacity and technical quality of the AMP staff.

“Panama is the number one ship registry in the world, but it is also a leader in Latin America and the Caribbean in port matters,” he reiterated.

He added that the entity [...]

Court ruling favors development of ship mortgages market

Fallo de corte favorece desarrollo del mercado de hipotecas navales

Franklin Castrellón

A ruling issued in November, 2015, by Panama’s Supreme Court, has left behind the anachronism of using Spanish as a mandatory language for the registration of ship mortgages.

This opens the possibility that Panama, the main financial center in Latin America, will become a major center for processing ship mortgages.

With 218.2 million gross registered tons (GRT) in its merchant fleet, according to statistics from IHS Global Ltd. (formerly Lloyd’s Register of Shipping) [...]

Licencing for maritime services suspended

Panamá suspende concesión de licencias para servicios marítimos

The Panama Maritime Authority (AMP) has “temporarily suspended” the licencing of maritime chandelling and fuel supply services.

The decision has sparked protests from businessmen.

AMP sources say there have been several studies that justify the decision to temporarily suspend the granting of licences to practice the ship chandelling activity of transporting supplies and fuel with floating equipment.

However, companies that have a direct contract with any oil company can skip the suspension.

The decision has [...]

Panama maritime administration strengthens the ship registry

Administración marítima busca fortalecer el registro de naves

By Franklin Castrellón

With a record that from the past century earned it the title of a “flag of convenience”, the Panamanian ship registry was facing a great challenge at the end of 1999, on the eve of the handover of the Canal to Panama.

The great challenge was to correct the shortcomings of the past and raise the level of the registry to that of the Canal: a company of first world prestige.

[...]

AMP continues making progress for the country

Reunión en la Autoridad Marítima de Panamá

The maritime sector has progressed significantly in the past twelve months and provides 23 percent of GDP, the Panama Maritime Authority (AMP) being the third institution that produces more economic benefits for the nation.

This institution has launched projects in Vacamonte, Aguadulce and Puerto Armuelles to boost the economy in these population centers.

Jorge Barakat Pitty, Administrator of the AMP said his institution is “committed to the administration of the national maritime wealth and equitable [...]