Panama Starts Removing 3 Tankers From Its Registry After U.S. Sanctions Over Iranian Oil

Panama has started the process of removing three tankers from its ship registry after the United States placed them under sanctions over their links to Iranian oil shipments.

The Panama Maritime Authority (AMP) said it had restricted Bitu, Starway and Mackerel in its system and started proceedings to cancel their registrations. All three ships fly the Panamanian flag.

The move follows a sanctions list published by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on October 8, 2026. The list named 17 vessels involved in carrying Iranian crude oil, petroleum products and petrochemicals to markets in South and East Asia.

Panama is acting under Executive Decree No. 512, issued on October 28, 2024. The three tankers are still registered in Panama, as the cancellation process has not been completed.

Bitu (IMO 9531765), a tanker that carries asphalt and bitumen, transported more than 170,000 barrels of Iranian bitumen and asphalt in 2026.

Starway (IMO 9273246) has transported more than 3 million barrels of Iranian naphtha since 2025. Mackerel (IMO 9234628), a chemical and oil products tanker, has carried more than 500,000 barrels of Iranian high-sulphur fuel oil since December 2025.

Bitu is owned by Ornella Shipping Inc, which is registered in the Marshall Islands. Starway is owned by China-based Hechuang International Group Limited, while Mackerel belongs to Betta Shipping Inc, which is also registered in the Marshall Islands.

The AMP also said that none of the vessels on the United Kingdom’s sanctions list targeting Russia’s so-called shadow fleet is currently registered in Panama.

Six vessels named on the UK list published on October 8, 2026, had already been removed from Panama’s ship registry before the sanctions were announced, the authority said.

The AMP said some vessel-tracking and monitoring companies might take time to update their records to show the changes in registration status. It added that the Panama Ship Registry regularly monitors its fleet and checks vessel records.

Panama introduced Executive Decree No. 512 in October 2024 to speed up the removal of vessels, or ships whose registered owners appear on certain international sanctions lists.

By March 2025, Panama had cancelled the registrations of 107 sanctioned vessels. Another 18 were still undergoing deregistration proceedings at the time.

The AMP condemned illegal activities that threaten human life and international security. It also said Panama remained committed to meeting its international obligations and taking action against threats to peace, regional stability and international security.

The authority said it would continue to protect the reputation and integrity of the Panamanian Merchant Marine.

The process to cancel the registrations of Bitu, Starway and Mackerel is still under way. The AMP has not yet confirmed their removal from the registry.

References: portnews, shippingtelegraph