The Panama Maritime Authority (PMA) acknowledges recent reports regarding 68 Panamanian-flagged vessels listed in sanctions issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury.

In accordance with its institutional responsibilities and strict compliance with applicable regulations, the Panama Ship Registry has initiated the necessary procedures to cancel the registration of these vessels, as outlined in Executive Decree No. 512, dated October 18, 2024.

This decree grants the PMA the authority to revoke the registration of vessels, as well as individuals and registered owners, included on international sanction lists.

The PMA reaffirms its unwavering commitment to protecting national interests and ensures transparent and rigorous management, taking decisive actions to prevent and address the improper use of the Panamanian flag.

Source: Panamashipregistry.com