
Registry To Older Oil Tankers And Bulkers Has Now Been Closed Out By Panama -
The decision follows analysis of inspection data showing that 71% of fleet arrests between 2023 and the first half of 2025 involved bulk carriers, general cargo vessels, and oil tankers over 15 years old. In addition to the age restriction, Panama has enacted further oversight measures, including mandatory quarterly inspections for problematic vessels and enhanced verification of Ship Safety Management Systems. Panama has faced criticism for its handling of shadow fleet vessels despite removing more than 650 ships from its registry since 2019 as part of efforts to enforce western sanctions. The non-governmental organization United Against Nuclear Iran (UANI) recently claimed that Panama“had not taken sufficient action against sanction violators” and noted that nearly one in five vessels suspected of transporting Iranian oil sail under Panama's flag.
Panama's registry is among the world's largest with more than 8,500 ships. The country has been working to improve its enforcement mechanisms, having withdrawn 214 vessels since implementing faster sanctions enforcement measures last year. Once removed from the registry, vessels can no longer sail under Panama's flag. The Central American nation is actively collaborating with the United States on registry matters and has previously signed agreements with other flag states including Liberia and Marshall Islands to share information about vessels rejected due to potential sanctions violations.

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