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Panama canceled the flag of four vessels of the Russian shadow fleet

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The tankers North Air, North Mountain, North Way and North Sky were previously identified as part of the Russian shadow fleet.

The Panamanian Maritime Administration will remove its flag from four vessels belonging to Russia’s “shadow fleet” and recently subject to US sanctions. This was reported by the press service of the department.

The owners of the ships are companies from Singapore – LNG Alpha Shipping, LNG Beta Shipping, LNG Delta Shipping and LNG Gamma Shipping. The US sanctions were imposed on employees of these gas companies because of their relationship with New Transshipment FZE, a subsidiary of Russia’s Novatek.

The LNG tankers of these companies North Air, North Mountain, North Way and North Sky transport liquefied natural gas and were consistently identified as part of Russia’s “shadow fleet”. Their owners tried to avoid sanctions against the Arctic LNG 2 project due to shell companies in third-party jurisdictions.

The maritime administration noted that Panama continues to monitor its fleet and will take action to cancel any vessels for abuse.

Registering ships under the Panamanian flag provides shipowners with several important advantages, especially the possibility of open registration and the possibility of hiring workers from other countries at lower wages.

As is known, Russia uses a “shadow fleet” to deliver LNG and oil to India and other countries. These tankers are often uninsured and hide their owner.

Let’s recall that the previous President Vladimir Zelensky said that Russia earns $10-12 billion per month from the shadow fleet.

Russia’s “shadow fleet”: why sanctions don’t work
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Source: korrespondent

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