MoU Signed Between Panama & UAE Offers New Benefits for Panamanian Vessels

Panama Maritime Authority

Published May 8, 2024 11:14 AM by The Maritime Executive

[By: Panama Maritime Authority]

The Panama Maritime Authority signed a Memorandum of Understanding (MOU) with the Ministry of Energy and Infrastructure of the United Arab Emirates (UAE) with which the vessels of the Panamanian Registry will have access to new incentives.

The purpose of this Memorandum is to establish a collaboration framework between both parties for the development of the “Blue Pass “project, which pursues the creation of a platform that gathers the main actors of the maritime industry of the UAE, altogether with partners and interested parties to offer a series of privileges and facilities of first quality to the main shipping companies and shipowners visiting the ports and waters of the UAE, from all over the world.

The project also seeks to offer incentives and concessions to the yachts and recreational ships docking in the country´s regional waters and to enhance the integration and facilitate mutual services between the suppliers and the participant companies.

With this initiative, the ships of the Panamanian Registry will receive a series of benefits and facilities as priority in the entry and exit from the ports, change of crew, discounts in auxiliary services with all companies, shipyards and other businesses registered in the database of the Blue Pass program. Likewise, the ships will have access to the shared database, with which they may contact directly with all the suppliers and their discounts for mutual benefit.

The agreement was signed by Her Excellence Hessa Al Malek, Consultant for Maritime Transportation Affairs from the Ministry of Energy and Infrastructure in cooperation with Captain Rami Omar Al Breiki, General Director of NeoNautica for Ship and Boats Trading LLC, with headquarters in Dubai, while the signature by the Panama Maritime Authority was delegated to Her Excellence Rebeca Pérez Cervantes, Ambassador of Panama in the United Arab Emirates.

This Memorandum of Understanding is enforceable since its signature and will have a validity of two years. It could be renovated with the mutual consent of both parties and the signature of a new memorandum of understanding.

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