Panama Tightens Registry Rules on Older Bulkers and Tankers

The Panamanian Ship Registry has introduced a new regulation that prohibits bulk carriers and oil tankers older than 15 years from registering under its flag. This move is aimed at curbing the use of aging vessels often linked to the so-called “shadow fleet” involved in opaque or potentially illicit maritime operations.

The policy shift follows an internal review revealing that vessels over 15 years old accounted for approximately 71% of detentions recorded between 2023 and 2025. Noting the correlation between vessel age and compliance issues, Panama is also introducing stricter vetting procedures for new registry applicants.

Additional measures include mandatory quarterly inspections for high-risk ships conducted by recognized organizations, along with enhanced checks on onboard safety management systems. With a fleet of roughly 8,500 ships, Panama is reinforcing its commitment to modernizing its registry and promoting safer, more transparent maritime operations.