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Guinness World Records certifies Panama as the world’s largest ship registry

Guinness World Records certifies Panama as the world’s largest ship registry
During an emotional ceremony in the Presidency of the Republic marking the 100th anniversary of the creation of Panama’s Ship Registry on 15 December 1918, the Guinness World Records Organisation, the authority in documenting world records, gave Panama the certification as owner of the "World’s Largest Ship Registry", with more than 8,000 vessels sailing the seas which represent about 18% of the world's maritime fleet.

"We have been serving the world for 100 years, promoting global maritime trade and favouring its development and reaching this mark of excellence represents recognition for our hard work, effort and sacrifice, and a lot of persistence,” said Panama Minister of Maritime Affairs Jorge Barakat. “Without a doubt, it is a great pride for all Panamanians and for our strategic partners at a global level and a great honour to receive this title of Guinness World Records,” he added.

“It is a source of pride for all Panamanians that this service that we provide with such commitment is recognized by Guinness World Records, a prestigious institution that has been present in the world since 1955, and whose publication of records is the most read book in more than 100 countries, and 23 languages, so our record will be recognized in all corners of the planet, where our Merchant Marine is present. It should be noted that this is the first time that this record title has been received, for which the number of vessels was validated with the greatest accuracy, using several international sources that endorsed this important decision, which we hope to maintain indefinitely.”

The Ship Registry generates more than $1 BN guaranteed by mortgage and annually produces more than one million ship transactions, it should be noted that one of the most significant numbers of a Registry is the average age of its fleet. Based on this, we can indicate that the lowest average age is nine years and belongs to bulk carriers, explained Barakat.

The users of the Registry have benefited through the online issuance of technical certificates, which can be printed electronically and directly by the interested parties, thus streamlining processes by not having to physically move anywhere. For next year, it is expected that existing certifications will be fully incorporated.

The opening of 4 new Ship Documentation Technical Offices (SEGUMAR) was carried out in strategic cities such as: London, Manila, Dubai and recently, in Houston - Texas, as well as the relocation of the Segumar New York Office to the State of Florida, with headquarters in the city of Miami, in the United States of America (EU), joining in this way the existing ones that are: Miami, Pireos, Istanbul, Singapore, Busan, Imabari, Seoul, Tokyo and the one that is located in the main headquarters in Panama City.

Thinking about our Seafarers, the necessary controls in training and qualification standards were implemented, achieving the signing of important Agreements with other maritime administrations, such as: Singapore, Vietnam, Ecuador, Iran, Philippines, Kenya, Bahamas and Barbados, that allow the mutual recognition of the training and qualifications of Panamanian seafarers, so that in this way they can access to work in other international markets.

Another transcendental and visionary achievement was the signing of the Maritime Cooperation Agreement with the People's Republic of China, through which Panama receives the status of "Most Favoured Nation", where ships registered with the Panamanian flag will receive preferential rates upon arriving at the ports of the People's Republic of China.