====== Panama ======

With <wrap hi>8,773 vessels and 248.8 million gross registered tonnes</wrap>, Panama’s <wrap hi>ship registry ranks as the world’s largest by vessel count</wrap>. The registry <wrap hi>accounts for 15% of the world’s merchant fleet tonnage</wrap>, highlighting its significant role in global shipping.((https://archive.ph/RPf7V#selection-569.0-572.0)) ((2025))

The registry’s growth remains strong, with a net increase of 468 vessels in 2024, including 408 newbuild vessels, adding over 9.4 million TRB to the registry.((https://archive.ph/RPf7V#selection-591.0-594.0)) ((2025))

The Panamanian fleet undergoes regular evaluation through various international instruments, including Memoranda of Understanding from Paris, Tokyo, Mediterranean, Indian Ocean, Black Sea, United States Coast Guard, Caribbean, Riyadh, Abuja, and the Viña del Mar Agreement.((https://archive.ph/RPf7V#selection-595.0-602.0)) ((2025))

The de-listing follows a pledge by Panama’s maritime authority in October to penalize vessels sanctioned by the US, European Union, UK and United Nations. Gaining support from one of the largest shipping administration bodies in the world was a coup for the Group of Seven and its allies, which have sought to impose a price cap of $60 a barrel on Russian exports.((https://archive.ph/SsZzV#selection-595.0-598.0)) ((2024))