The Panama Maritime Authority (AMP) confirms that four vessels, owned by four Singapore-based Liquefied Natural Gas (LNG) transport companies that were sanctioned by the United States of America (USA), are undergoing a process to cancel their Panamanian flag.
According to the Authority, the LNG transport vessels were previously identified as part of Russia’s dark fleet and that their owners sought to evade sanctions imposed on the Arctic LNG 2 project through front companies in third-country jurisdictions.
As the governing body of the Panama Ship Registry, the AMP remains in constant monitoring of its merchant fleet and reiterates to the international maritime community that it will continue to defend national interests and take decisive action in canceling vessels that misuse the Panamanian flag.
The process began on October 4, fourteen days before the issuance of Executive Decree No. 512 on October 18, 2024, which means that the procedure will follow the established process prior to the enactment of the new regulation. USA’s sanction is due to the companies’ ties with the Russian gas producer Novatek.
