Panama Initiates Flag Cancellation For Four U.S.-Sanctioned LNG Vessels

LNG Carrier — Image for representation purposes only

The Panama Maritime Authority (AMP) has confirmed that four liquefied natural gas (LNG) vessels sanctioned by the United States are in the process of having their Panama flag registration cancelled.

These ships, owned by Singaporean-based companies linked to Russia’s gas producer Novatek, are being investigated for allegedly violating Arctic LNG 2 sanctions.

The deregistration process for the vessels began on October 4, before the issuance of Panama’s Executive Decree No. 512 on October 18, 2024.

The AMP said that this means the procedure will adhere to protocols that existed before the new regulation came into effect.

According to international media sources, the U.S. sanctioned the vessels because their owners had connections to Nocatek, a major Russian LNG producer.

The companies- LNG Beta Shipping, LNG Alpha Shipping, LNG Gamma Shipping and LNG Delta Shipping are majorly owned by New Transshipment FZE, a subsidiary of the UAE-based Novatek.

The vessels named North Air (IMO: 9953509), North Mountain ((IMO: 9953511), North Sky (9953523), and North Way (IMO: 9953535) were previously associated with Russia’s “dark fleet.”

These ships allegedly operate through front companies based in third countries to evade international sanctions and continue transporting Russian LNG.

The AMP, Panama’s governing body for its merchant fleet, said it actively monitors vessels flying the Panamanian flag. It reiterated its commitment to cancel the registration of any vessels involved in activities that could harm the country’s reputation or violate international laws.

The AMP assured the global community that it is committed to safeguarding Panama’s national interests and preserving the integrity of its ship registry.

Reference: Panama Maritime Authority

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