Panama Presents RISC Database To The United States Of America

The Chargé d’Affaires of the Embassy of Panama in Washington D.C., Mario Morales López, along with the CEO of the Liberian Registry, Alfonso Castillero, has launched the shared database of the Registry Information Sharing Compact (RISC). This significant development was presented to the Office of International Security and Nonproliferation (ISN) of the United States Department of State, represented by Deputy Assistant Secretary Gonzalo Suárez.

Origins and Purpose of RISC

Panama, alongside the Liberia and Marshall Islands registries, is a founding member of this compact, which was signed on August 14, 2019. The RISC represents a significant advancement in enforcing penalties against ships exhibiting behaviors contrary to the interests of the international maritime community.

Expansion and Membership of RISC

Currently, RISC includes registries from Palau, Honduras, St. Kitts and Nevis, Comoros, Vanuatu, Cook Islands, Dominica, Moldova, and Belize, in addition to its three founding members. The establishment of this database by the RISC member registries aims to deter “flag hopping” among vessels that have been involved in penalty evasion activities.

Functionality and Reporting Process

As part of this international agreement, when a flag registry begins the process of sanctioning a ship, canceling a registry, or denying the registration of a vessel due to unlawful behavior, the office will immediately notify other members of the general information of that vessel. A description of the activity will also be included to share the identity of the vessels, companies, or groups engaging in these bad practices.

Panama’s Contribution and Vigilance

Since joining RISC, Panama has reported over 135 vessels to the shared database. As part of its due diligence process, the Panamanian Registry incorporates database checks to avoid flagging vessels linked to illicit activities or suspected of violating sanctions, especially those undergoing cancellation processes within other RISC member registries.