Panama Continues to Lead Registry Market
Panama has achieved 1.5% fleet growth in the first quarter of 2013, The Bulletin reports.
The national newspaper reports that while the registry had been concerned Greek tax reforms might result in Greek clients returning to their home flag, increases in registrations are expected to continue throughout this year.
Concern over possible company bearer share eliminations that may have caused reflagging to Liberia and the Marshall Islands, which accept bearer share firms, has been removed as Panama decided not to pursue the legislation.
Panama has been a leading open registry for vessels since the early twentieth century.
