Panama, world’s largest ship registry, advances 2025 reforms via Panama Flag Pre-Check for pre-registration risk assessments, Beijing Convention ratification for clean judicial sales, 15-year age limits on oil tankers/bulk carriers, automatic de-registration of sanctioned vessels (247 in 2024), Electronic Vessel Registry (REN) for digital mortgages, enhanced No-Objection Letters for fishing vessels, and IMO D-2 ballast compliance. These boost transparency, ESG alignment, and financier confidence, alongside infrastructure like LPG pipelines and Río Indio reservoir.