The Panama Ship Registry, the world’s leading flagging authority with over 8,700 vessels registered, celebrated in South Korea, 108 years of service, reaffirming its strategic presence in Asia—a region that accounts for 27% of the Panamanian flag’s gross registered tonnage (GRT).
The commemorative reception, hosted by the Embassy of Panama in South Korea and the Panama Maritime Authority (PMA), took place on November 4 in Seoul as part of the Registry’s international anniversary agenda.
The event was presided over by Panama’s Ambassador to Korea, Diego Villanueva Martinelli, and AMP’s Director General of Merchant Marine, Ramón Franco, who underscored the importance of strengthening ties with Asian markets—key drivers of growth and innovation in Panama’s maritime sector.
More than 100 maritime stakeholders attended the ceremony, including representatives from the Ministry of Oceans and Fisheries, the Ministry of Foreign Affairs, the Korea Shipowners’ Association, the Korean Register of Shipping (KR), and leading shipping companies and financial institutions.
During the event, PMA showcased the technological advancements implemented to streamline registration, certification, and issuance of technical documents—enhancing service agility, transparency, and efficiency for shipowners and system users.
Special recognitions were awarded to Lee Hyung-chul, President and CEO of the Korean Register of Shipping, and Yang Chang-ho, Executive Vice President of the Korea Shipowners’ Association, for their contributions to strengthening maritime cooperation between Panama and Korea.
As part of the official agenda, the Panamanian delegation held bilateral meetings with shipyards, shipowners, maritime authorities, and Recognized Organizations (ROs), reinforcing the international projection of Panama’s Registry and its commitment to safe, modern, and sustainable maritime transport.
Key Highlights
- Panama remains the world’s top flag state by vessel registration.
- South Korea ranks as the fourth-largest user of the Panama Canal.
- The Asian market is projected to generate over 9.5 million GRT in newbuilds over the coming years.
Source: PMA Press Release