The Panama Maritime Authority (PMA) confirms that four vessels owned by Singapore-based LNG transport companies, recently sanctioned by the United States, are in the process of having their Panamanian registration canceled.
The process began on October 4, fourteen days before Executive Decree No. 512 was issued on October 18, 2024, which authorizes the governing body to expedite the procedure. Therefore, it is proceeding under the current laws of the Republic.
International reports indicate that these sanctions were imposed due to the companies’ connections to Russian gas producer Novatek. The companies—LNG Alpha Shipping, LNG Beta Shipping, LNG Delta Shipping, and LNG Gamma Shipping—are all majority-owned by New Transhipment FZE, a UAE-based Novatek subsidiary, as cited by the U.S. Department of State.
The report also notes that the LNG vessels North Air (IMO: 9953509), North Mountain (IMO: 9953511), North Way (IMO: 9953535), and North Sky (IMO: 9953523) were previously identified as part of Russia’s “dark fleet.” Their owners allegedly sought to circumvent sanctions on the Arctic LNG 2 project through shell companies in third-country jurisdictions.
As the authority overseeing Panama’s Ship Registry, PMA continues to monitor its merchant fleet closely and assures the international maritime community that it will steadfastly defend national interests, taking decisive action to cancel any vessels misusing the Panamanian flag.
