- Panama Acts to Protect Ship Registry from International Sanctions.
- Six Ships Linked to UK Sanctions Removed from Panama’s Registry.
- Panama Maritime Authority Begins Expedited De-Flagging Process.
Panama has accelerated revoking six Panamanian-flagged vessels recently included in the United Kingdom’s consolidated list of financial sanctions targets. This was confirmed in a statement issued by the Panama Maritime Authority on Friday, Nov 29, reports Reuters.
Presidential Decree Mandates Registry Clean-Up
The move follows an October decree issued by President Jose Raul Mulino, who ordered ships targeted by international sanctions to be removed from Panama’s ship registry. Panama has the world’s largest ship registry, and the directive aims to maintain its integrity and reputation.
Information on the Targeted Ships
The six vessels in question were put on the UK’s sanctions list earlier this week on Monday. The listings have catalyzed rapid response under the new decree to ensure Panama’s shipping reputation is protected.
Protecting Panama’s Maritime Prestige
Ramon Franco, Director General of Panama’s Merchant Marine, emphasised the importance of this measure for the registry’s credibility. “The state has the responsibility to ensure the well-being of the Panamanian Registry, keeping it free from international sanctions and ships linked to or included in sanctions lists that can affect the prestige of the flag,” Franco stated.
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Source: Reuters
