Panama's maritime authority (AMP) said on Monday it had launched a process to cancel the registrations of 17 vessels included in a list of sanctions from the US Treasury's Office of Foreign Assets Control (OFAC).
"The AMP has tightened its control mechanisms to avoid the inclusion of unwanted actors under the Panamanian flag," it said in a statement, saying this followed the recent addition of a company, a Panamanian citizen and 17 vessels registered on Panama's ship registry on an OFAC sanctions list.
Actions taken included the beginning of the process of cancellation of the registration of the 17 sanctioned vessels, in accordance with Executive Decree No. 512 of October 18, 2024, and execution of the corresponding measures against the economic group and the sanctioned company.
"The AMP has proactively tightened its control mechanisms to prevent the inclusion of unwanted actors under the Panamanian flag," the organisation said. "Any vessel applying for entry into the registry, as well as its owners, operators and charterers, must comply with a thorough due diligence process.
"The AMP reiterates its firm commitment to the policy of zero tolerance against the improper use of the ship registry, as well as to the exclusion of ships, companies, suppliers and other interested parties that are included in international sanctions lists recognised by the Panamanian State."
(Reporting by Elida Moreno; Editing by Brendan O'Boyle)