Maritime Services

World-class maritime services

The ships that transit through the Canal have a wide range of services available to them, among them are:

Fuel supply:

Panama has high technology bunkering installations. Around 20 fuel suppliers of marine bunker and lubricants are established in the country. Panama is the most important sales center in the region and is emerging as a fuel and crude oil distributor in the region and the world with 10 Oil Free Zones, offering a range of tax and cost benefits, in addition to having a storage capacity of almost 30 million barrels. Its terminals on 2 oceans ensure the ships’ refueling.

Repairs:

The ship repair companies with headquarters in Panama are accredited by the main international industry’s associations and have highly qualified equipment, among them naval engineers, architects and technicians.

Ship manipulation:

Being home to one of the busiest shipping lanes in the world, Panama is an ideal place for the provisioning of ships. The lower manipulation costs and more efficient procedures than other import and export regional ports are also key reasons why Panama is the preferred destination for the ship transportation sector. Panama has a dynamic industrial cluster formed by more than 25 ship suppliers, including companies such as.

Insurance and legal services:

The insurance companies in Panama offer a wide range of products to cover the maritime industry, including ships and cargo. The legal services can help in a variety of matters related with the maritime sector, including ship registration, which can offer a series of benefits, such as generous tax savings and cost reduction.

Inspections:

Inspection services in Panama are provided through a group of companies, including Intertek, Blue Sea Ship Services and SEMINSA, operating 24 hours 7 days a week. The installations include ports, fuel storage terminals, ships, barges, refineries, pipelines, machinery and other installations.

Panama is:

in Latin America and the Caribbean in the Liner Shipping Connectivity Index (LSCI) since 2009

in Latin America and the Caribbean regarding efficiency in customs paperwork

in world ranking of port infrastructure

ADVANTAGES OF THE MARITIME SECTOR

Free trade areas

Free trade areas

Panamá Pacífico is a special area that offers unique incentives and houses a dynamic group of maritime companies, including Man Diesel & Turbo, MEC Stores, Radio Holanda, Wartsila and Wilhelmsen.

Ocean to ocean capacity

Ocean to ocean capacity

More than 133 shipping lanes connected with 1,700 ports in 160 countries.

Home of the two maritime ports with the greatest traffic in Latin America, Balboa and Colon, one on each side of the Atlantic and Pacific Oceans.

Panama Canal

Panama Canal

A vital international trade node: around 8% of world trade currently goes through the Panama Canal.

The expansion contributed a record 36.1 million tons transiting the Canal in January 2017, increasing 20% the number of transits through the Canal between January 2016 and January 2017.

Country strategically situated in the heart of the Americas

Country strategically situated in the heart of the Americas

Panama connects East and West, North and South with its strategic geographical position and its first-class infrastructure.

Most cities in the American continent can be accessed by sea in less than 10 days.

A dynamic growth sector

A dynamic growing sector

Panama’s transportation, storage and communications sector has experienced inter-annual growth during the last decade, growing an average 8.35% between 2006 and 2016.

The transportation, storage and communications sector is one of the greatest contributors to the Panamanian economy, with a value of US$6.6 billion in 2016 (at current prices) and representing 11.87% of the total GDP.

The chosen location for DFI in Central America

The chosen location for DFI in Central America

Panama is the preferred location for DFI in the maritime transportation sector in Central America.

The country received more DFI projects between 2003 and 2016 than any other Central American country.

The largest merchant fleet in the world

The largest merchant fleet in the world

Panama has the largest registered merchant fleet in the world with more than 8,000 ships, representing almost 9% of the world merchant fleet in 2016.

The ships registered under the Panamanian flag are not subject to taxes, as long as the income is related to international maritime trade.


Download: Maritime Services

Special Investment Regimes

SUCCESS CASES

“Panama will undoubtedly continue to grow in the coming years. For its economic model to be sustainable in time, it will be necessary to continue working in training its domestic labor force and continue creating learning synergies with the foreign talent. This will be the key to success”

Alberto Alesi, Regional Director for the Caribbean and Central America
ManpowerGroup

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+507 560-0687
proinvexpanama@mici.gob.pa

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