The Council on Ethics recommends ending the observation of Pan Ocean Co Ltd (Pan Ocean). Following a recommendation from the Council on Ethics, Pan Ocean has been under observation since 2018. During the observation period, the company has introduced a policy for the disposal of decommissioned vessels intended to ensure that this takes place in a responsible manner. The policy is in line with best practice in this area. Moreover, more than four years have passed since Pan Ocean last disposed of vessels for scrapping in Bangladesh or Pakistan.
The Council on Ethics submitted its recommendation on April 28, 2026.