Panama Strengthens Fleet Integrity with New Deregistration Measures

The Panama Maritime Authority (PMA) is taking proactive steps to ensure the integrity of its merchant fleet by implementing measures to uphold its reputation. Executive Decree No. 512 outlines the process for deregistering vessels or owners that appear on international sanctions lists. Since the decree was put into effect, 125 vessels have been reviewed, resulting in 107 cancellations, with 18 cases currently under review. The majority of vessels removed from the registry were listed by the U.S. Office of Foreign Assets Control, the European Union, and the United Kingdom.

In addition to Executive Decree No. 512, Panama has other mechanisms in place for deregistering vessels involved in illicit activities. The General Law of the Merchant Marine mandates the automatic cancellation of registration for vessels engaged in criminal activities, while Executive Decree No. 245 targets fishing vessels involved in illegal, unreported, and unregulated fishing. Furthermore, Executive Decree No. 32 addresses vessels and companies linked to terrorism financing. These measures underscore Panama’s commitment to responsible and efficient ship registry management.

Acting Director General of the Merchant Marine, Rina Berrocal, emphasized the country’s vision of maintaining a modernized fleet with younger vessels powered by cleaner energy sources. Regulations are being enforced to expedite the deregistration of non-compliant, polluting, or vessels with opaque backgrounds. Fleet monitoring is being enhanced, and data on Panama-flagged ships is being regularly updated to ensure compliance with regulations and promote transparency within the maritime industry.

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