The Panama Maritime Authority has announced that as of 3 August 2025 the Panama Ship Registry will no longer accept registrations for oil tankers or bulk carriers aged more than 15 years.
The decision, communicated through MMN 11/2024 and the Precheck verification process, is intended to optimise fleet performance, reduce arrest risks and prevent entry of vessels from the so‑called “shadow fleet”.
According to the authority, those shadow fleets consist primarily of ageing oil tankers with opaque ownership, frequently under‑insured and operating in ways to circumvent international sanctions.
Inspection data show 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 imposed mandatory quarterly inspections for problematic vessels and enhanced verification of Ship Safety Management Systems.
Since 2019 Panama has removed more than 650 vessels from its registry, including 214 vessels since faster sanctions enforcement began, and vessels removed from the registry are no longer permitted to sail under Panama’s flag.
Panama is collaborating with the United States and has agreements with Liberia and the Marshall Islands to share information on vessels rejected due to sanctions concerns.
Panama had already faced pressure from U.S. authorities and sanctions watchdogs to address “shadow fleet” activities. Panama’s registry had removed over 650 vessels since 2019—including 214 since mid‑2024—as part of efforts to comply with U.S. sanctions and tighten regulatory controls.
Panama Maritime Authority is the government entity responsible for administration of the Panama Ship Registry and oversight of maritime regulation, including vessel registration, safety compliance and enforcement of sanctions-related standards under guidance from its General Directorate of Merchant Marine.