Latest news with #NorthOcean
Mint
27-05-2025
- Business
- Mint
Mitsui OSK Talking to Japan Over EU Sanctions on Its LNG Tankers
Mitsui OSK Lines Ltd. is seeking help from the Japanese government after a surprise decision by the European Union to sanction three of its liquefied natural gas tankers linked to a Russian project. 'We are not at all happy about this, so we are now lobbying the EU through various channels, including the Japanese government,' Chief Executive Officer Takeshi Hashimoto said in an interview on Tuesday. The North Moon, North Ocean and North Light — managed by Mitsui OSK — were included in the 17th package of sanctions adopted by the European Council last week. The measures were part of the EU's mounting efforts to push Moscow into a peace deal with Ukraine, addressing workarounds to previously imposed restrictions. The three vessels recently helped move shipments from Yamal LNG, which is not under sanctions. They loaded cargoes transshipped near the port of Murmansk, where cargoes arrive on ice-class ships directly from the plant, according to shipping data compiled by Bloomberg. Some of the vessels are already loaded and Mitsui OSK will unload them as soon as possible, Hashimoto said. 'I think those vessels will be unusable for some time to come,' he said. 'But, to be honest, they have been saying for a long time that the Yamal project is not subject to sanctions, and suddenly these ships are subject to sanctions.' The company saw a considerable rush for stockpiling LNG from January to March ahead of tariffs by US President Donald Trump and, after dropping in April, demand has been very strong since May following an easing in the trade war. 'We expect it to continue to be strong during May and June,' Hashimoto said. This article was generated from an automated news agency feed without modifications to text.
Asahi Shimbun
22-05-2025
- Business
- Asahi Shimbun
Japanese shipping group Mitsui OSK assessing EU sanction impact on its LNG vessels
A tanker carrying LNG berths at a port in Ishikari, Hokkaido, in 2021. (The Asahi Shimbun) TOKYO/SINGAPORE--Japan's second-largest shipping company Mitsui O.S.K. Lines (MOL) said it is carefully assessing the impact on three of its liquefied natural gas vessels of new sanctions imposed by the European Union against Russia. "We will continue to fully cooperate with the relevant authorities, including the European Union and the Japanese government, and remain committed to complying with all applicable laws, regulations, and international rules," said a company spokesperson on Wednesday. "We will take appropriate measures as necessary, in accordance with our rights and obligations." On Tuesday, the EU adopted four sets of sanctions against Russia over the war in Ukraine, including a 17th package targeting Moscow's shadow fleet. MOL's owned and managed North Moon, North Ocean and North Light LNG vessels were included in the package. Built in 2024, the three vessels had delivered cargoes from Russia's Yamal LNG project to east Asia this year via a ship-to-ship transfer with the ice breaking vessel Nikolay Urvantsev, showed Kpler data. North Ocean delivered a cargo from Yamal LNG to Taiwan on April 19, while North Moon and North Light had made prior shipments to Dalian port in northern China and Jieyang port in southern China on March 17 and April 1, respectively. North Moon and North Light are both currently loaded with cargoes from Yamal LNG enroute to Asia, according to Kpler data.
Mint
21-05-2025
- Business
- Mint
EU Sanctions Ships That Moved LNG From Russia's Yamal Plant
The European Union imposed sanctions on three vessels that helped move gas cargoes from Russia's Yamal LNG project, further squeezing Moscow's energy revenues. The North Moon, North Ocean and North Light were included in the 17th package of sanctions adopted by the European Council on Tuesday. The vessels are managed by Tokyo-based Mitsui OSK Lines Ltd., a leading operator of LNG carriers, according to shipping database Equasis. The surprise sanctions on vessels from an established shipping company highlight the EU's mounting efforts to push Moscow into a peace deal with Ukraine, addressing workarounds to previously imposed restrictions. The EU recently banned transshipments of Russian liquefied natural gas bound for Asia at European ports, so the country has moved such operations to near its port of Murmansk. That added time to journeys to China, but allowed the Yamal LNG plant to continue sending its cargoes. The vessels are 'operated in such a way as to contribute or support actions or policies for the exploitation, development or expansion of the energy sector in Russia, including energy infrastructure,' the European Council said in a published list of restrictions. Mitsui OSK Lines confirmed that the three vessels are under its management. 'We intend to fully cooperate with the EU and Japanese governments in complying with the sanctions,' the company said in a statement to Bloomberg News. 'We will consult with various parties and take appropriate measures.' Novatek PJSC, the majority shareholder of Yamal LNG, didn't immediately respond to requests for comment. Past Western restrictions focused on the so-called shadow fleet suspected of moving cargoes from the sanctioned Arctic LNG-2 project. The three vessels recently helped move cargoes from Yamal LNG, which is not under sanctions. They loaded cargoes transshipped near the port of Murmansk, where cargoes arrive on ice-class ships directly from the plant, according to shipping data compiled by Bloomberg. The EU's ban on transshipments of Russian LNG in European came into effect on March 26. None of the three vessels delivered the cargoes to Europe since then, heading to China and Taiwan instead, according to data compiled by Bloomberg. With assistance from Alberto Nardelli, Stephen Stapczynski, John Ainger and Reina Sasaki. This article was generated from an automated news agency feed without modifications to text.
