Panama continues its roadmap towards the decarbonisation of the maritime sector

Panama is moving forward with the development of a plan for the implementation of decarbonisation in the maritime sector, as part of its commitment to comply with the guidelines established by the IMO. This was announced by Alexander De Gracia, acting administrator of the Panama Maritime Authority (AMP), during a meeting with the consultant appointed by the European Union, who will provide technical assistance in drafting this proposal.

“In the next five months, we expect to have a draft action plan ready to begin its execution as soon as possible, but we need the collaboration of many stakeholders in the sector,” said De Gracia.

This plan will form part of the National Maritime Strategy and seeks to create suitable conditions and a regulatory framework that will make Panama an attractive destination for international investment in alternative fuels, one of the central pillars of this project.

Arthur James, external consultant for the European Union delegation in Panama, emphasised that this technical assistance is key for the development of the roadmap towards maritime decarbonization. “This will allow us to establish a baseline and diagnose the current state of the country. We will identify what needs to be done, where we are heading, and what tools are required to meet international commitments,” he explained.

Maritime transport moves more than 80% of global trade, but it is also responsible for about 3% of global greenhouse gas emissions. While this figure may seem modest, if the sector were a country, it would rank as the world’s sixth largest emitter.

As an IMO member state and the country with the world’s largest fleet, Panama must comply with global emission reduction targets. The main objective, adopted in 2023, is to achieve net-zero greenhouse gas (GHG) emissions in international shipping by 2050.