Panama Ship Registry expels vessels named in latest OFAC sanctions list

The Panama Maritime Authority (AMP) has taken immediate action in response to the recent inclusion of a company, a Panamanian citizen, and 17 vessels registered in the Panama Vessel Registry on the sanctions list of the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).

The actions taken include: Initiating the process of canceling the registration of the 17 sanctioned vessels, pursuant to Executive Order No. 512 of October 18, 2024; and implementing the corresponding measures against the sanctioned economic group and company.

The AMP has proactively strengthened its control mechanisms to prevent the inclusion of undesirable actors under the Panamanian flag. Every vessel applying to the Registry, as well as its owners, operators, and charterers, must undergo a thorough due diligence process.

The AMP reiterates its firm commitment to a zero-tolerance policy against the misuse of the Vessel Registry, as well as to the exclusion of vessels, companies, suppliers, and other interested parties included on international sanctions lists recognized by the Panamanian State.

In a separate move also aimed at cracking down on the so-called shadow fleet, the AMP announced earlier this month that it will no longer accept tankers or bulk carriers more than 15 years old onto the Panama Ship Registry.