Oil tankers and bulk carriers over than 15 years old will no longer be eligible for registration in the Panamanian Ship Registry.
The decision, announced last Friday by Panama Maritime Authority, aims to curb the phenomenon of the so-called shadow fleet. It is based on the observation that 71% of vessel detentions ordered between 2023 and 2025 by the relevant authorities involved bulkers and tankers over 15 years old.
The amendment of the Panama Register, one of the largest in the world with over 8,500 registered ships, comes amid growing criticism and pressure from the US government, including a recent direct warning from the Federal Maritime Commission, which pointed out that 60% of ships suspected of transporting Iranian oil were registered in Panama.
The Panamanian Maritime Authority acted promptly, announcing the removal of 214 suspicious ships from the register in June. Since 2019, Panama has removed over 650 ships from its register in order to comply with Western sanctions.
With this latest move, the Central American registry aims to regain credibility in the fight against shadow vessels.
Translation by Giles Foster
