Panama Cancels Flags of Four US-Sanctioned LNG Carriers

The Panama Maritime Authority (PMA) is in the process of canceling the registrations of four LNG carriers—North Air, North Mountain, North Way, and North Sky—due to their connections with Russian gas producer Novatek and subsequent U.S. sanctions. This action follows Panama's commitment to combat the misuse of its flag and prevent the evasion of international sanctions related to Russia's Arctic LNG 2 project. The PMA began this deregistration process on October 4, prior to the enactment of new regulations that facilitate expedited cancellations. These vessels are part of a network identified as Russia’s 'dark fleet', which attempts to circumvent sanctions through front companies. Panama’s proactive measures reflect its stance against becoming a haven for sanctioned vessels amidst ongoing tensions arising from the Ukraine conflict. The PMA has reinforced its oversight and compliance measures to maintain the integrity of its ship registry.