Seizure of a ship’s flag in Panama

At the end of 2023, the Panama Ship Registry had more than 8,540 vessels registered. This fleet, active in global trade, participates in commercial transactions.

When there is reason to believe that, in the time prior to judicial recognition of a right, one of the parties will suffer imminent or irreparable harm, the party may request the judge to take precautionary measures to ensure the effectiveness of the judgment.

The precautionary measure establishes an immobilization order similar to a Mareva Injunction on the ship’s property in the registry and on its navigation license, preventing the owners from disposing of or selling the ship.