The Panamanian Ship Registry is to stop accepting tankers and bulkers more than 15 years old. The move has been officially communicated to the industry through an update to MMN 11/2024, which specifies the requirements for the Precheck process. It is based on an analysis of data from inspections and detentions of vessels flying the national flag. A key component of Precheck is the risk assessment regarding sanctions and vessel operations.
The regulation was adopted after the Directorate General of the Merchant Marine identified that 71% of fleet detentions between 2023 and the first half of 2025 involved bulk carriers, general cargo vessels, and oil tankers older than 15 years. As a flag state, Panama maintains constant monitoring of its fleet and makes adjustments to maintain its level of control and thus increase its compliance levels, said the Registry in its announcement.
Likewise, the flag has activated other mechanisms through Resolution 106-003-DGMM of January 3, 2025:
- Additional inspection every three months, to be carried out by the Recognized Organization (RO) that issues the statutory certificates, with an annual and/or periodic scope for deficient vessels.
- Additional verification of the Ship’s Safety Management System (SMS Certificate), with an initial scope and the possibility of increasing its frequency if non-conformities are identified that could affect the Safety Management System.