Panama Maritime Authority proposes USD 205.1 million budget

The Panama Maritime Authority (AMP) has presented its budget proposal and strategic updates before the National Assembly's Budget Commission. For the 2027 fiscal year, the AMP is requesting USD 205.1 million, which includes USD 177 million for operating expenses and USD 28 million for investments. The agency expects to contribute USD 117.5 million to the national treasury.

Priority investments include the construction of a multipurpose pier in Puerto Armuelles, the implementation of an Electronic Vessel Registry (REN), and the strengthening of vessel monitoring systems (LRIT). Funds are also earmarked for maintaining national navigation aids and the construction of a fiscal pier in the Almirante District.

Regarding the maritime registry, officials addressed the decline in the number of Panamanian-flagged vessels, noting that Panama has moved to third place globally in registered tonnage. The AMP defended this trend as a deliberate policy of ‘quality over quantity.’

Officials stated that since July 2024, the administration has worked to purge the registry of ‘ghost fleets,’ reduce vessel detentions, and regain the U.S. Qualship 21 recognition. The agency has implemented stricter pre-registration checks to identify technical histories, international sanctions, and irregular activities to ensure a younger, safer, and more compliant fleet.