Panama With A $25 Million Loan Is Planning A New Maritime Strategy -

(MENAFN- Newsroom Panama) The nation of Panama has 8,822 vessels flying the Panamanian flag. The Panama Maritime Authority (AMP), as part of an extraordinary loan approved for $25 million, allocated $3 million to review the National Maritime Strategy. Francisco Escoffery, director of finance for the AMP, said they plan to hire international and local experts to update the strategy, something that hasn't happened since the expansion of the Panama Canal. Port concession contracts will also be reviewed, as a source of income for the Republic that the AMP will defend. Luis Roquebert, administrator of the AMP, stated that as a global business, the entity must have the necessary experts to remain competitive and avoid falling into discriminatory lists. “We can't let our country be tarnished and let people say we don't cooperate against criminal activities,” he said.

Roquebert revealed that once the Canal expansion was completed in 2016, ports were able to allow more capacity for docking ships, and that added value has not been properly captured within the country's maritime strategy. The additional credit also includes a monitoring system for Panamanian-flagged vessels, a project dating back to 2008 to trace the vessel's navigation in such a way as to identify whether it is engaged in any illicit activity. The system, valued at $1.4 million, also provides information on whether the vessel is carrying out any irregular fuel transfers. Roquebert noted that the AMP must become a technological entity, so that aspects such as the monitoring center allow for 24-hour monitoring. “If we have many deficiencies, the flags come out, so the tracking given to those ships is to ensure they arrive safely at their destination ports,” he said. Other components of the additional credit include the fiscal dock and the Puerto Armuelles seafood market.

MENAFN14062025000218011062ID1109674923