According to the United Nations Conference on Trade and Development (UNCTAD), Panama continues to be a leader in the flag ship business in terms of dead-weight tonnage (DWT), although it has not recorded any further increase for the years. On the other hand, Liberia registered the largest increase when 2019 compared to 2020. Additionally, it is the second largest registry in the world.
The Panamanian registry of ships is open, this means that it does not require the owners of the ships to have Panamanian nationality or residence. The procedure for registration is under by Law 57 of 2008.
In 2020, 2,065,730.20 thousand dead-weight tons (DWT) were registered internationally, representing a growth of 3.4% compared to 2019.
Source: United Nations Conference on Trade and Development (UNCTAD). 2020