NORTH AIR

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Russia's LNG tankers with problems to find buyers for their cargoes

The 'Nova Energy', which appeared to be heading to one of the Russia's floating storage unit Koryak FSU to discharge its cargo, and had left Nakhodka Bay where it had been idling for weeks, initially heading to the FSU off Kamchatka, has since turned back south. It was estimated that the 'Nova Energy' was about 70% loaded. Actually it is anchored in pos. 42° 45' N 132° 56' E. The Koryak FSU has also taken on cargoes from the 'Pioneer', which is anchored in pos. 42° 45' N 132° 55' E in the Sea of Japan, and the 'Metagas Everest' recently, and may now be holding 250,000-cbm of LNG. The 'Pioneer', the 'Nova Energy' and the 'East Energy' have been idling off Russia’s Far East coast for months, laden with LNG from Novatek’s US-sanctioned Arctic LNG 2 liquefaction plant. The sanctioned ships have not been able to offload their shipments to buyers. The 'Nova Energy' and 'East Energy' transported their cargoes through the Northern Sea Route, and the 'Pioneer' transited the Suez Canal southbound. The 'Mulan' has left the North Sea in ballast at the start of Jan 2025, and initally headed northwards into the Atlantic before turning south, now with an ETA at Port Said as of Jan 16. The 'Metagas Energy', which loaded a cargo at Arctic LNG 2 in Oct 2024, and had been idling to the north of Russia, has followed the 'Mulan' into the Atlantic. The 'North Air', 'North Mountain', 'North Sky' and 'North Way' have been drifting in the Barents Sea, before the 'North Air' has started moving west, but is actually NUC in the Barents Sea.

Ship added to EU sanction list

The European Union has adopted its newest sanctions package on Dec 16, 2024, at the Foreign Affairs Council meeting, adding 52 new vessels, among them the 'North Air', to the sanctions list that have been deemed by the EU to be supporting Russia’s war machine. The vessels that have been sanctioned are primarily involved in circumventing the oil price cap mechanism implemented by the West, in arms deliveries, and in the transportation of stolen grain. This latest package has brought the total number of vessels sanctioned by the EU to 79. The majority of the vessels are involved in the transport of Russian oil and in transporting arms for the Russian military. The sanctions package also targets a total of 54 individuals and 30 entities that are deemed to be bolstering Russia’s war effort. Among them, there are also entities and individuals in China and North Korea who have been deemed to be supplying Russia with dual-use materials to support Russia’s military efforts. Two senior North Korean officials and seven Chinese individuals and companies have been targeted in the latest sanctions. The purpose of the sanctions has been defined to increase the operational costs for Russia by banning them from ports in the EU and hindering them from receiving maritime services.

Process of cancelling registration underway

The Panamanian authorities announced on Nov 6 to have initiated the process of canceling the registration of the 'North Way', 'North Sky', 'North Mountain' and 'North Air', which have been sanctioned by the US for illicit activities. Their registrations, along with other navigation documents provided by Panama, were to be revoked. All tankers are owned by the New Transshipment FZE, which is a subsidiary of Nthe ovatek, and were alleged by the US to have been part of the Russian dark fleet and having carried shipments from the Russian Yamal and Arctic LNG 2 projects. On Oct 18, the, incumbent president José Raúl Molino had issued a decree to establish a framework for swiftly canceling registrations and licenses for vessels that appeared on the sanctions list of the US, EU, or UK. Along with the cancellation of registration and all navigation documents issued by Panama, any other organizations that are recognized by Panama are also barred from providing classification or certification to these vessels.