Digitisation makes Headway for the maritime sector in Panama

Singapore, 18 November 2020 – The Republic of Panama, a country with the largest registered vessels fleet, attracts shipowners with it lucrative privileges such as an open registry, tax exemptions, no minimum tonnage requirements, and its strategic position connecting one of the most important marine trade routes, the Pacific and Atlantic oceans. Aside from having the most efficient legal support, Panama leads the crest of Lloyd’s List of “The Top 10 Flag States List” by about 53m gross tonnes in 2019. In light of the rising demand, Panama’s Maritime Authority is well set to ride the wave towards digitalisation, to spearhead macroeconomic growth for the maritime sector.

Digitisation

The socioeconomic vision will inaugurate with a simplified application process for the Certificate of Competency (CoC) endorsement by the Panama Embassy. Shipowners and Manning Agencies take delight in the brand-new application system, which provides a significant reduction on travelling and waiting time required to visit the embassy to authenticate the seafarers’ certificates of competency for safe embarkation. Henceforth, rejoice in the convenience of submitting the online application for seafarers of all ranks with the supporting documents at https://www.marineonline.com. Upon submission, applicants may track their application history for up to seven years.

HE Luis Alberto Melo, Ambassador and Consul General of the Republic of Panama to Singapore said, “In the face of a changing landscape, it is crucial to accelerate our level of services to interoperate for greater optimization and automation as the next big leap. Our partnership with Marine Online (MOL) will allow us to enhance our services through the platform and connect us to our customers in real-time. Our future-ready solutions will also enable new opportunities for us to promote our maritime services and maintain our position as the World’s leader in the marine industry.”

Reinforcing the needs of an industry dominated by complex logistic flows and massive exchange of data, the socioeconomic vision embark conjointly on cultivating a smart maritime ecosystem using digital technologies such as Artificial Intelligence (AI), blockchain, Internet of Things (IoT), and big data. As standardisation is the key to accuracy and reliability for business and compliance purposes, the paradigm shift towards digitalisation provides immense expediency to revamp conventional practices to improve productivity, achieve greater efficiencies, and performance downtime.

“By unifying Artificial Intelligence (AI) and Advanced eCommerce Technologies, we aim to digitalise data and elevate procurement efficiency for sustainable growth in the digital economy, for the maritime industry. I am positive that our exclusive partnership with the Consul-General Embassy of Panama, will rejuvenate the maritime shipping space with renewed optimism,” said Mr. Yang Ling, the CEO of Marine Online, a B2B e-commerce platform for shipping services that includes chartering, bunkering, crewing, port agency, ship supply, ship purchase & sell, and other marine services.

Digital sophistication is shaping the future in light of the COVID-19 pandemic. Businesses call for resiliency to ensure business continuity amidst the changing tides. A resounding sentiment to emerge stronger from the crisis, it has now become a necessity to embrace digital adoption and workforce resilience to forge the way forward.  With digital transformation underway, Marine Online (MOL) is confident to reconnect global businesses in real-time with its integrated business platform and future-ready solutions.

 

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