Panama Prepares to Take Action on Sanctioned Vessels
The Panama Maritime Authority (PMA) has introduced a legal mechanism enabling the immediate revocation of registration and navigation licenses for vessels in the national merchant fleet that appear on international sanctions lists. Additionally, any other navigation documents issued by the PMA will also be invalidated.
On October 18, 2024, Executive Decree No. 512 was published in the Official Gazette, outlining the cancellation of vessels or registered owners listed in the following:
• Sanctions Lists issued by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).
• The United Nations Security Council’s Lists of Individuals and Entities Associated with Terrorism and Its Financing, as well as Vessels Designated by the Security Council Committees.
• European Union Sanctions – EU Consolidated Financial Sanctions List.
• United Kingdom Sanctions – Consolidated List of Financial Sanctions Targets in the UK.
Organizations recognized by or under the jurisdiction of the Republic of Panama are prohibited from offering classification or certification services to vessels undergoing or subject to cancellation.
Panama has also indicated it is strengthening strategic alliances with member states of the IMO and global players in the maritime industry. Luis Roquebert, Minister of Maritime Affairs and Administrator of the PMA, represented Panama at the IMO in London during World Maritime Day. He used the occasion to discuss key issues and emphasized Panama's strong commitment to international regulations promoting decarbonization and outlined Panama’s efforts to reduce GHG emissions from ships, in line with the Paris Agreement’s targets.
In meetings with the International Chamber of Shipping, Roquebert explored how Panama is working to drive the adoption of zero-emission technologies and alternative fuels.
Discussions with IMO Secretary-General Arsenio Domínguez centered on the verification of the Member States Audit Scheme and Panama's upcoming review in October 2025, which will assess the country's compliance with maritime safety, security, and pollution prevention standards.
Roquebert also met with the International Oil Pollution Compensation Funds (IOPC) to address the situation of fuel-handling companies in Panama. He highlighted the importance of ratifying the International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea (HNS Convention 2010).
Additionally, conversations with the IOPC focused on strengthening the international legal framework for liability and compensation related to oil spills, while also enhancing environmental protection and ensuring fair compensation in case of accidents.
Further meetings with Stephen Cotton, Secretary General of the International Transport Workers’ Federation (ITF), centered on the protection of Panamanian seafarers, ensuring their rights and promoting safe and dignified working conditions.
