July 4, 2026, marked a key milestone for the maritime sector with the publication of Law No. 32706. This regulation seeks to modernize the country's commercial fleet and boost ship construction, repair, and maintenance activities in our shipyards.
The new legislation complements the efforts of Legislative Decree 1413 and Law 28583 to invigorate cargo and passenger transport along our coasts. The underlying objective? To make cabotage a strategic ally of land transport, generate specialized technical employment, and enhance our commercial competitiveness under international environmental standards.
What benefits and novelties does this law bring?
- Incentives for fleet renewal: A five-year profit reinvestment regime is created for national shipping companies. It will allow for a deduction of up to 100% of the amount invested in the purchase of new nationally built vessels, modernization of existing vessels, or improvement of port infrastructure linked to cabotage.
- Preference in public procurement: In state contracting processes, an additional evaluation factor (favorable score) will be given to companies that use vessels built in licensed local shipyards.
- Financial support: COFIDE and the MIPYME Fund will design specialized financing programs for cabotage projects and for small businesses that supply the naval industry.
- Special Economic Zones: The door is opened to delimit special zones that house maritime clusters, facilitating administrative procedures and technological innovation.
- Environmental commitment: Vessels must strictly align with the standards of the International Maritime Organization (IMO). Those that incorporate clean technologies — such as hybrid propulsion or sustainable fuels — will receive additional incentives, and efficient shipyards can apply for a "Green Certification."
Important deadlines to consider
National flag companies already engaged in cabotage have a period of 24 months to adapt their vessels to the new maintenance conditions required. For its part, the Executive Branch has a period of 180 calendar days to publish the official regulations that will implement all these benefits.
Undoubtedly, Law 32706 outlines the regulatory and commercial path that will guide the country's port and logistics development over the next decade.
