Panama flag, 2024
Ships whose port of registry belongs to Panama, as estimated from the THETIS-MRV reports for 2024, and the companies operating them. Each company counts only its ships under this flag.
At a glance
Ships
1,747
62 with a blank port, flag from another year
Emitted
14,780,333 t
CO₂, all ships under the flag
EU ETS allowances due
€251m
3,349,941 t of allowances at the chosen price
Largest operator: MSC Group
€93.5m
159 ships, 37% of the flag's allowances
Ship types under this flag
CO₂ by segment.
- Container7,492,302 t
- Bulk carrier2,680,779 t
- Vehicle carrier1,017,244 t
- Passenger868,268 t
- Chemical tanker725,064 t
- Oil tanker665,482 t
- General cargo415,193 t
- LNG carrier346,207 t
- Gas carrier (LPG)249,508 t
- Ro-pax89,458 t
- Reefer73,872 t
- Other73,856 t
- Ro-ro64,941 t
- Cruise18,160 t
Companies by EU ETS cost
The 50 operators with most EU ETS allowances due for their Panama-flagged ships in 2024. Companies of one group are summed, as on the compare page; their ships under other flags are not counted here.
| # | Operator | Main segment | Shipsunder Panama | CO₂emitted, total | AllowancesEU ETS cost | vs segment medianlower is better | vs similar-size shipssame segment, lower is better |
|---|---|---|---|---|---|---|---|
| 1 | MSC Group(3 companies) | Container | 159 | 4,852,133 t | €93.5m | −22% | +9% |
| 2 | Synergy Marine(7 companies) | Container | 69 | 722,779 t | €11.6m | −8% | −9% |
| 3 | Evergreen | Container | 9 | 718,667 t | €11.1m | – | – |
| 4 | HMM | Container | 12 | 508,224 t | €8.8m | −70% | −26% |
| 5 | K Line(3 companies) | Container | 27 | 455,974 t | €7.2m | – | – |
| 6 | Shoei(2 companies) | Container | 14 | 414,950 t | €6.6m | – | – |
| 7 | FLEET SHIP MANAGEMENT PTE LTD | Container | 9 | 241,972 t | €3.9m | −50% | −8% |
| 8 | MOL(6 companies) | Vehicle carrier | 23 | 225,849 t | €3.7m | – | – |
| 9 | NYK(2 companies) | Container | 15 | 197,065 t | €3.3m | – | – |
| 10 | FLEET MANAGEMENT LIMITED | Bulk carrier | 47 | 201,765 t | €3.1m | −17% | −13% |
| 11 | Cido Shipping Korea Co., Ltd. | Vehicle carrier | 20 | 164,000 t | €2.5m | −5% | +3% |
| 12 | MMS(2 companies) | Oil tanker | 22 | 124,496 t | €2.1m | −4% | −16% |
| 13 | Seacon(4 companies) | General cargo | 16 | 112,473 t | €2.0m | −26% | −10% |
| 14 | Anglo-Eastern(3 companies) | Container | 12 | 110,382 t | €1.8m | −43% | −14% |
| 15 | Navios(7 companies) | Bulk carrier | 28 | 123,136 t | €1.8m | −31% | −4% |
| 16 | Dalian Dongrong Ship Management Co.,Ltd. | Bulk carrier | 16 | 108,183 t | €1.7m | – | – |
| 17 | TECHNOMAR SHIPPING INC-LIB | Container | 5 | 86,348 t | €1.7m | +7% | −9% |
| 18 | IINO MARINE SERVICE CO., LTD. | Chemical tanker | 13 | 91,262 t | €1.5m | – | – |
| 19 | Naftomar | Gas carrier (LPG) | 11 | 83,177 t | €1.5m | +91% | +18% |
| 20 | Arab Maritime Petroleum Transport company | Oil tanker | 11 | 86,083 t | €1.4m | −46% | −22% |
| 21 | LUSTER MARITIME/HIGAKI SANGYO | Container | 1 | 88,119 t | €1.3m | – | – |
| 22 | POS SM Co Ltd | Bulk carrier | 9 | 84,805 t | €1.3m | −32% | −11% |
| 23 | KLCSM CO., LTD. | LNG carrier | 6 | 78,445 t | €1.3m | – | – |
| 24 | Kowa Marine Service Co.,Ltd. | Reefer | 6 | 77,489 t | €1.3m | – | – |
| 25 | Sallaum Lines DMCC | Vehicle carrier | 5 | 75,825 t | €1.2m | −1% | −2% |
| 26 | Columbia Shipmanagement | Container | 2 | 73,110 t | €1.2m | – | – |
| 27 | COSCO Shipping(3 companies) | Bulk carrier | 23 | 60,946 t | €1.2m | +5% | +16% |
| 28 | SHUNZAN KAIUN CO., LTD. | Container | 6 | 73,743 t | €1.2m | – | – |
| 29 | CLEANSEAS SHIPMANAGEMENT, INC. | Bulk carrier | 16 | 69,746 t | €1.1m | – | – |
| 30 | FUKUJIN KISEN CO., LTD. | Container | 5 | 68,694 t | €1.1m | – | – |
| 31 | Wisdom Marine(2 companies) | Bulk carrier | 16 | 60,058 t | €1.1m | – | – |
| 32 | Laskaridis Maritime SA | Bulk carrier | 11 | 61,281 t | €988k | −26% | −17% |
| 33 | WHITE FOX Ship Management - FZCO | LNG carrier | 4 | 84,078 t | €905k | – | – |
| 34 | SEOYANG SHIPPING CO., LTD. | Container | 2 | 50,534 t | €859k | – | – |
| 35 | K MARINE SHIP MANAGEMENT PTE. LTD. | Gas carrier (LPG) | 6 | 54,386 t | €856k | – | – |
| 36 | SK shipping Co Ltd | LNG carrier | 4 | 52,579 t | €817k | – | – |
| 37 | NEW SHIPPING KAISHA, LTD. | Chemical tanker | 6 | 42,087 t | €805k | – | – |
| 38 | "UMM" LLC | Ro-pax | 4 | 43,010 t | €786k | – | – |
| 39 | LEO OCEAN, S.A. | Bulk carrier | 10 | 47,414 t | €766k | −47% | −16% |
| 40 | FUJIAN OCEAN SHIP MANAGEMENT COMPANY LIMITED | Bulk carrier | 10 | 45,960 t | €727k | −21% | +20% |
| 41 | Gas Carriers SCF Mgmt FZCO | LNG carrier | 1 | 45,179 t | €700k | – | – |
| 42 | Wallem | Vehicle carrier | 4 | 42,448 t | €688k | – | – |
| 43 | EXCEL MARINE CO., LTD. | Vehicle carrier | 6 | 42,070 t | €687k | – | – |
| 44 | Mediterranean Car Carriers Line S.A. | Vehicle carrier | 3 | 27,792 t | €686k | – | – |
| 45 | Unix Line Pte Ltd | Chemical tanker | 7 | 38,404 t | €683k | – | – |
| 46 | KANSAI STEAMSHIP CO., LTD. | Vehicle carrier | 3 | 39,723 t | €664k | – | – |
| 47 | WORLD MARINE CO., LTD. | Bulk carrier | 6 | 39,401 t | €663k | – | – |
| 48 | Union Marine Mgmt Serv Pte Ltd | Bulk carrier | 8 | 40,939 t | €660k | −25% | +1% |
| 49 | STARGATE SHIPMANAGEMENT GmbH | Vehicle carrier | 3 | 26,585 t | €650k | – | – |
| 50 | Asia Pacific Shipping Co Ltd | Bulk carrier | 6 | 32,592 t | €619k | – | – |
Show by ISM company (DoC holder) instead of group
| # | Operator | Main segment | Shipsunder Panama | CO₂emitted, total | AllowancesEU ETS cost | vs segment medianlower is better | vs similar-size shipssame segment, lower is better |
|---|---|---|---|---|---|---|---|
| 1 | MEDITERRANEAN SHIPPING CO SRL | Container | 90 | 2,791,816 t | €49.0m | −33% | +11% |
| 2 | MSC Shipmanagement Ltd | Container | 57 | 1,257,716 t | €23.3m | +8% | +8% |
| 3 | MSC Cruise Management UK Ltd | Passenger | 12 | 802,601 t | €21.2m | −33% | −33% |
| 4 | EVERGREEN MARINE CORP. (TAIWAN) LTD | Container | 9 | 718,667 t | €11.1m | – | – |
| 5 | HMM Company Limited | Container | 12 | 508,224 t | €8.8m | −70% | −26% |
| 6 | SHOEI KISEN KAISHA, LTD. | Container | 13 | 410,206 t | €6.6m | – | – |
| 7 | SYNERGY MARITIME PRIVATE LIMITED | Container | 39 | 362,087 t | €6.0m | −23% | −9% |
| 8 | "K" LINE SHIP MANAGEMENT (SINGAPORE) PTE LTD | Container | 8 | 280,106 t | €4.4m | – | – |
| 9 | FLEET SHIP MANAGEMENT PTE LTD | Container | 9 | 241,972 t | €3.9m | −50% | −8% |
| 10 | Synergy Marine Pte Ltd | Container | 5 | 229,692 t | €3.7m | – | – |
| 11 | NYK SHIPMANAGEMENT PTE LTD | Container | 11 | 197,065 t | €3.3m | – | – |
| 12 | FLEET MANAGEMENT LIMITED | Bulk carrier | 47 | 201,765 t | €3.1m | −17% | −13% |
| 13 | "K" Line RoRo Bulk Ship Management Co., Ltd. | Vehicle carrier | 17 | 175,869 t | €2.8m | – | – |
| 14 | Cido Shipping Korea Co., Ltd. | Vehicle carrier | 20 | 164,000 t | €2.5m | −5% | +3% |
| 15 | SEACON SHIPS MANAGEMENT PTE. LTD. | General cargo | 10 | 99,299 t | €1.8m | −27% | −31% |
| 16 | Dalian Dongrong Ship Management Co.,Ltd. | Bulk carrier | 16 | 108,183 t | €1.7m | – | – |
| 17 | TECHNOMAR SHIPPING INC-LIB | Container | 5 | 86,348 t | €1.7m | +7% | −9% |
| 18 | MMS CO., LTD. | Oil tanker | 17 | 92,782 t | €1.5m | −4% | −17% |
| 19 | IINO MARINE SERVICE CO., LTD. | Chemical tanker | 13 | 91,262 t | €1.5m | – | – |
| 20 | Naftomar Shipping & Trading Co Ltd | Gas carrier (LPG) | 11 | 83,177 t | €1.5m | +91% | +18% |
| 21 | Arab Maritime Petroleum Transport company | Oil tanker | 11 | 86,083 t | €1.4m | −46% | −22% |
| 22 | LUSTER MARITIME/HIGAKI SANGYO | Container | 1 | 88,119 t | €1.3m | – | – |
| 23 | POS SM Co Ltd | Bulk carrier | 9 | 84,805 t | €1.3m | −32% | −11% |
| 24 | KLCSM CO., LTD. | LNG carrier | 6 | 78,445 t | €1.3m | – | – |
| 25 | Kowa Marine Service Co.,Ltd. | Reefer | 6 | 77,489 t | €1.3m | – | – |
| 26 | Sallaum Lines DMCC | Vehicle carrier | 5 | 75,825 t | €1.2m | −1% | −2% |
| 27 | Columbia Shipmanagement Ltd | Container | 2 | 73,110 t | €1.2m | – | – |
| 28 | SHUNZAN KAIUN CO., LTD. | Container | 6 | 73,743 t | €1.2m | – | – |
| 29 | SYNERGY NAVIS MARINE PRIVATE LIMITED | Chemical tanker | 15 | 65,892 t | €1.2m | – | – |
| 30 | CLEANSEAS SHIPMANAGEMENT, INC. | Bulk carrier | 16 | 69,746 t | €1.1m | – | – |
| 31 | FUKUJIN KISEN CO., LTD. | Container | 5 | 68,694 t | €1.1m | – | – |
| 32 | MOL SHIP MANAGEMENT (SINGAPORE) PTE. LTD. | Vehicle carrier | 7 | 64,364 t | €1.1m | – | – |
| 33 | Wisdom Marine International Inc. | Bulk carrier | 15 | 58,046 t | €1.0m | – | – |
| 34 | Laskaridis Maritime SA | Bulk carrier | 11 | 61,281 t | €988k | −26% | −17% |
| 35 | WHITE FOX Ship Management - FZCO | LNG carrier | 4 | 84,078 t | €905k | – | – |
| 36 | SEOYANG SHIPPING CO., LTD. | Container | 2 | 50,534 t | €859k | – | – |
| 37 | K MARINE SHIP MANAGEMENT PTE. LTD. | Gas carrier (LPG) | 6 | 54,386 t | €856k | – | – |
| 38 | SK shipping Co Ltd | LNG carrier | 4 | 52,579 t | €817k | – | – |
| 39 | NEW SHIPPING KAISHA, LTD. | Chemical tanker | 6 | 42,087 t | €805k | – | – |
| 40 | "UMM" LLC | Ro-pax | 4 | 43,010 t | €786k | – | – |
| 41 | MOL Tankship Management Pte. Ltd. | Chemical tanker | 6 | 46,516 t | €781k | – | – |
| 42 | LEO OCEAN, S.A. | Bulk carrier | 10 | 47,414 t | €766k | −47% | −16% |
| 43 | FUJIAN OCEAN SHIP MANAGEMENT COMPANY LIMITED | Bulk carrier | 10 | 45,960 t | €727k | −21% | +20% |
| 44 | Anglo-Eastern Ship Management Ltd | Container | 3 | 46,409 t | €724k | – | – |
| 45 | MOL LNG Transport (Europe) Ltd | LNG carrier | 2 | 45,703 t | €708k | – | – |
| 46 | Gas Carriers SCF Mgmt FZCO | LNG carrier | 1 | 45,179 t | €700k | – | – |
| 47 | NAVIOS CORPORATION MANAGEMENT | Bulk carrier | 6 | 44,332 t | €696k | −38% | −4% |
| 48 | Wallem Shipmanagement Ltd. | Vehicle carrier | 4 | 42,448 t | €688k | – | – |
| 49 | EXCEL MARINE CO., LTD. | Vehicle carrier | 6 | 42,070 t | €687k | – | – |
| 50 | Mediterranean Car Carriers Line S.A. | Vehicle carrier | 3 | 27,792 t | €686k | – | – |
- Allowances :
- EU ETS allowances due for the year, at the chosen price.
- vs segment median :
- CO₂ per transport work against the median segment ship. Below 0% is better.
- vs similar-size ships :
- CO₂ per transport work of the median ship, against the median ship of the same size band in its segment (whole segment where the segment has no size bands). Below 0% is better.
EU ETS allowances are not a tax: companies buy and surrender one allowance per tonne of CO₂ in scope. Figures use the 2024 phase-in share and an EUA price of €75 per tonne, which the commercial view lets you change. The flag is estimated from the port of registry; see the Flags page.