Business

Singapore oil trading, bunkering firm added to US sanctions list

A total of 56 shipping and trading firms have been targeted by the U.S. OFAC for doing business with North Korea.

Published

7 years ago

February 28, 2018

Admin

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added a total of 56 shipping and trading firms to its Specially Designated Nationals (SDN) list for conducting business with North Korea.

The action targets one individual, 27 entities, and 28 vessels located, registered, or flagged in North Korea, China, Singapore, Taiwan, Hong Kong, Marshall Islands, Tanzania, Panama, and Comoros.

Among entities added was Singapore-based Yuk Tung Energy; the company is involved in oil trading, bunkering, and marine engineering consultancy work, according to information on its official website.

The Japan Maritime Self-Defense Force on 20 January spotted North Korean-flagged tanker Rye Song Gang 1 lying alongside Dominican-flagged 36,457 deadweight tonne (dwt) oil tanker Yuk Tung on the high sea in the East China Sea.

The vessels were “strongly” suspected of conducting ship-to-ship transfers banned by United Nations Security Council Resolution.

“Treasury is aggressively targeting all illicit avenues used by North Korea to evade sanctions, including taking decisive action to block the vessels, shipping companies, and entities across the globe that work on North Korea’s behalf,” said Treasury Secretary Steven Mnuchin.

“This will significantly hinder the Kim regime’s capacity to conduct evasive maritime activities that facilitate illicit coal and fuel transports, and erode its abilities to ship goods through international waters.

“The President has made it clear to companies worldwide that if they choose to help fund North Korea’s nuclear ambitions, they will not do business with the United States.”

The following 27 entities have been added to OFAC's SDN List:

CHANG AN SHIPPING & TECHNOLOGY (a.k.a. CHANG AN SHIPPING AND TECHNOLOGY), Room 2105, DL1849, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong, China; Company Number IMO 5938411 [DPRK4].
CHON MYONG SHIPPING CO (a.k.a. CHON MYONG SHIPPING COMPANY LIMITED), Kalrimgil 2-dong, Mangyongdae-guyok, Pyongyang, Korea, North; Saemaul 2-dong, Pyongchon-guyok, Pyongyang, Korea, North; Company Number IMO 5571322 [DPRK4].
FIRST OIL JV CO LTD, Jongbaek 1-dong, Rakrang-guyok, Pyongyang, Korea, North; Company Number IMO 5963351 [DPRK4].
HAPJANGGANG SHIPPING CORP, Kumsong 3-dong, Mangyongdae-guyok, Pyongyang, Korea, North; Company Number IMO 5787684 [DPRK4].
HONGXIANG MARINE HONG KONG LTD, Room 1502, 15th Floor, Keen Hung Commercial Building, 80, Queen's Road East, Wan Chai, Hong Kong, China; Company Number IMO 5857588 [DPRK4].
HUAXIN SHIPPING HONGKONG LTD, Room 2105, Trend Centre, 29-31 Chueng Lee Street, Chai Wan, Hong Kong, China; Company Number IMO 5758476 [DPRK4].
KINGLY WON INTERNATIONAL CO., LTD., Marshall Islands; Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro MH 96960, Marshall Islands; Taiwan; 8th Floor, Number 466, Section 2, Neihu Road, Taipei, Taiwan; Commercial Registry Number 90132 (Marshall Islands) [DPRK3] (Linked To: TSANG, Yung Yuan).
KOREA ACHIM SHIPPING CO, Sochang-dong, Chung-guyok, Pyongyang, Korea, North; Company Number IMO 5936312 [DPRK4].
KOREA ANSAN SHIPPING COMPANY (a.k.a. KOREA ANSAN SHPG CO), Pyongchon 1-dong, Pyongchon-guyok, Pyongyang, Korea, North; Company Number IMO 5676084 [DPRK4].
KOREA MYONGDOK SHIPPING CO, Chilgol 2-dong, Mangyongdae-guyok, Pyongyang, Korea, North; Company Number IMO 5985863 [DPRK4].
KOREA SAMJONG SHIPPING CO, Tonghung-dong, Chung-guyok, Pyongyang, Korea, North; Company Number IMO 5954061 [DPRK4].
KOREA SAMMA SHPG CO (a.k.a. KOREA SAMMA SHIPPING CO), Rakrang 3-dong, Rakrang-guyok, Pyongyang, Korea, North; Company Number IMO 5145892 [DPRK4].
KOREA UNPHA SHIPPING & TRADING (a.k.a. KOREA UNPHA SHIPPING AND TRADING), Puksong-dong, Pyongchon-guyok, Pyongyang, Korea, North; Company Number IMO 6005935 [DPRK4].
KOREA YUJONG SHIPPING CO LTD, Puksong 2-dong, Pyongchon-guyok, Pyongyang, Korea, North; Company Number IMO 5434358 [DPRK4].
KOTI CORP, Panama City, Panama; Company Number IMO 5982254 [DPRK4].
LIBERTY SHIPPING CO LTD, Room D, 3rd Floor, Thomson Commercial Building, 8-10 Thomson Road, Wan Chai, Hong Kong, China; Company Number IMO 5513586 [DPRK4].
MYOHYANG SHIPPING CO, Kumsong 3-dong, Mangyongdae-guyok, Pyongyang, Korea, North; Company Number IMO 5988369 [DPRK4].
PAEKMA SHIPPING CO, Care of First Oil JV Co Ltd, Jongbaek 1-dong, Rakrang-guyok, Pyongyang, Korea, North; Company Number IMO 5999479 [DPRK4].
PHYONGCHON SHIPPING & MARINE (a.k.a. PHYONGCHON SHIPPING AND MARINE), Otan-dong, Chung-guyok, Pyongyang, Korea, North; Company Number IMO 5878561 [DPRK4].
POCHON SHIPPING & MANAGEMENT (a.k.a. POCHON SHIPPING AND MANAGEMENT), Sonnae-dong, Mangyongdae-guyok, Pyongyang, Korea, North; Company Number IMO 5990271 [DPRK4].
PRO-GAIN GROUP CORPORATION, 8th Floor, Number 466, Section 2, Neihu Road, Taipei, Taiwan; Le Sanalele Complex, Ground Floor, Vaea Street, Saleufi, Apia, Samoa; Taiwan; Samoa [DPRK3] (Linked To: TSANG, Yung Yuan).
SHANGHAI DONGFENG SHPG CO LTD, Room 601, 433, Chifeng Lu, Hongkou Qu, Shanghai 200083, China; Company Number IMO 5721069 [DPRK4].
SHEN ZHONG INTERNATIONAL SHPG, Unit 503, 5th Floor, Silvercord Tower 2, 30, Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, China; Company Number IMO 5604962 [DPRK4].
SONGWON SHIPPING & MANAGEMENT (a.k.a. SONGWON SHIPPING AND MANAGEMENT), Somun-dong, Chung-guyok, Pyongyang, Korea, North; Company Number IMO 5990268 [DPRK4].
TONGHUNG SHIPPING & TRADING CO (a.k.a. TONGHUNG SHIPPING AND TRADING CO), Kinmaul-dong, Moranbong-guyok, Pyongyang, Korea, North; Company Number IMO 1991835 [DPRK4].
WEIHAI WORLD-SHIPPING FREIGHT, 419-201, Tongyi Lu, Huancui Qu, Weihai, Shandong 264200, China; Company Number IMO 5905801 [DPRK4].
YUK TUNG ENERGY PTE LTD, 17-22, UOB Plaza 2, Raffles Place 048624, Singapore; Company Number IMO 5987860 [DPRK4].

The following 28 vessels have been added to OFAC's SDN List:

AN SAN 1 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 7303803 (vessel) [DPRK4] (Linked To: KOREA ANSAN SHIPPING COMPANY).
ASIA BRIDGE 1 8,015DWT; Vessel Registration Identification IMO 8916580 (vessel) [DPRK4] (Linked To: HUAXIN SHIPPING HONGKONG LTD).
CHON MA SAN Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8660313 (vessel) [DPRK4] (Linked To: KOREA ACHIM SHIPPING CO).
CHON MYONG 1 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8712362 (vessel) [DPRK4] (Linked To: CHONMYONG SHIPPING CO).
DONG FENG 6 5,515DWT Tanzania flag; Vessel Registration Identification IMO 9008201 (vessel) [DPRK4] (Linked To: SHANGHAI DONGFENG SHPG CO LTD).
HAO FAN 2 11,658DWT; Vessel Registration Identification IMO 8747604 (vessel) [DPRK4] (Linked To: SHEN ZHONG INTERNATIONAL SHPG).
HAO FAN 6 13,500DWT; Vessel Registration Identification IMO 8628597 (vessel) [DPRK4] (Linked To: SHEN ZHONG INTERNATIONAL SHPG).
HAP JANG GANG 6 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 9066540 (vessel) [DPRK4] (Linked To: HAPJANGGANG SHIPPING CORP).
HUA FU 10,030DWT Panama flag; Vessel Registration Identification IMO 9020003 (vessel) [DPRK4] (Linked To: CHANG AN SHIPPING & TECHNOLOGY).
JI SONG 6 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8898740 (vessel) [DPRK4] (Linked To: PHYONGCHON SHIPPING & MARINE).
JI SONG 8 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8503228 (vessel) [DPRK4] (Linked To: PHYONGCHON SHIPPING & MARINE).
KOTI Panama flag; Vessel Registration Identification IMO 9417115 (vessel) [DPRK4] (Linked To: KOTI CORP).
KUM GANG 3 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8966535 (vessel) [DPRK4] (Linked To: KOREA UNPHA SHIPPING & TRADING).
NAM SAN 8 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8122347 (vessel) [DPRK4] (Linked To: HAPJANGGANG SHIPPING CORP).
ORIENTAL TREASURE 9,038DWT Comoros flag; Vessel Registration Identification IMO 9115028 (vessel) [DPRK4] (Linked To: HONGXIANG MARINE HONG KONG LTD).
PAEK MA Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 9066978 (vessel) [DPRK4] (Linked To: PAEKMA SHIPPING CO; Linked To: FIRST OIL JV CO LTD).
PO CHON Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8848276 (vessel) [DPRK4] (Linked To: POCHON SHIPPING & MANAGEMENT).
SAM JONG 1 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8405311 (vessel) [DPRK4] (Linked To: KOREA SAMJONG SHIPPING CO).
SAM JONG 2 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 7408873 (vessel) [DPRK4] (Linked To: KOREA SAMJONG SHIPPING CO).
SAM MA 2 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8106496 (vessel) [DPRK4] (Linked To: KOREA SAMMA SHPG CO).
SONG WON Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8613360 (vessel) [DPRK4] (Linked To: SONGWON SHIPPING & MANAGEMENT).
TONG HUNG 5 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8151415 (vessel) [DPRK4] (Linked To: TONGHUNG SHIPPING & TRADING CO).
WOORY STAR Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8408595 (vessel) [DPRK4] (Linked To: PHYONGCHON SHIPPING & MARINE).
XIN GUANG HAI 7,067DWT; Vessel Registration Identification IMO 9004700 (vessel) [DPRK4] (Linked To: WEIHAI WORLD-SHIPPING FREIGHT).
YU JONG 2 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8604917 (vessel) [DPRK4] (Linked To: KOREA YUJONG SHIPPING CO LTD).
YU PHYONG 5 Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8605026 (vessel) [DPRK4] (Linked To: KOREA MYONGDOK SHIPPING CO).
YU SON Democratic People's Republic of Korea flag; Vessel Registration Identification IMO 8691702 (vessel) [DPRK4] (Linked To: MYOHYANG SHIPPING CO).
YUK TUNG; Vessel Registration Identification IMO 9030591 (vessel) [DPRK4] (Linked To: YUK TUNG ENERGY PTE LTD).

Photo credit: Ministry of Defense (Japan)
Published: 28 February, 2018

Alternative Fuels

Singapore: MPA issues circular on resolutions adopted at IMO MSC 109

New circular informs shipping community of the resolutions, including on use of ammonia cargo as bunker fuel, and urges the shipping community to prepare for the implementation of these resolutions.

Published

3 hours ago

March 18, 2025

Admin

The Maritime and Port Authority of Singapore (MPA) on Monday (17 March) issued Shipping Circular No. 2 of 2025 regarding resolutions adopted by the 109th session of the Maritime Safety Committee (MSC 109) of the International Maritime Organization (IMO), which was held from 2 to 6 December 2024:

This circular informs the shipping community of the resolutions adopted by MSC 109 and urges the shipping community to prepare for the implementation of these resolutions.

MSC 109 adopted the following mandatory resolutions:

Resolution MSC.566(109) – Amendments to the International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC Code)

This resolution adopts amendments to Chapter 16 of the IGC Code, mainly to allow the use of ammonia cargo as fuel. The amendments will enter into force on 01 July 2026 and will be given effect through the Merchant Shipping (Safety Convention) Regulations.

Resolution MSC.567(109) – Amendments to the International Code of Safety for Ships using Gases or other Low-flashpoint Fuels (IGF Code)

This resolution adopts amendments to IGF Code regarding ship design and arrangements; general pipe design; safety functions of the gas supply system; fire protection; hazardous area zones; and ventilation requirements. The amendments will enter into force on 01 January 2028 and will be given effect through the Merchant Shipping (Safety Convention) Regulations.

MSC 109 also adopted the following resolutions:

Resolution MSC.568(109) – Amendments to the Revised recommendation on testing of life-saving appliances (resolution MSC.81(70))

This resolution adopts amendments to Part 1- Prototype Test for Life-saving Appliances, for self-righting test requirements of totally enclosed lifeboats, under paragraph 6.14.1.1 of the Revised recommendation on testing of life-saving appliances (resolution MSC.81(70)).

Resolution MSC.569(109) – Performance standards for the reception of maritime safety information and search and rescue related information by MF and HF digital navigational data (NAVDAT) system

This resolution adopts the Performance standards for the reception of maritime safety information and search and rescue related information by MF and HF digital NAVDAT system.

Resolution MSC.509(105)/REV.1 – Provision of radio services for the Global Maritime Distress and Safety System (GMDSS)

This resolution adopts the revised Recommendation on provision of radio services for the GMDSS, the Criteria for use when providing shore-based digital selective calling (DSC) facilities for use in the GMDSS, the Criteria for establishing GMDSS sea areas, the Criteria for use when providing a NAVTEX service and the Criteria for use when providing a NAVDAT service, set out in annexes 1 to 5, respectively, to the resolution. This resolution revokes resolution MSC.509(105).

Resolution MSC.570(109) – Performance standards for a universal shipborne Automatic Identification System (AIS)

This resolution adopts the revised Performance standards for a universal shipborne AIS, recognising the need for measures to prevent unauthorised entry or tampering of the ship's identity information in shipborne AIS.

Any queries relating to this circular should be directed to MPA Shipping Division via email at [email protected].

Photo credit: Maritime and Port Authority of Singapore
Published: 18 March, 2025

Business

Singapore-based AET appoints Nick Potter as new President and CEO

Potter, who assumes the CEO role from Zahid Osman, also assumed the role of Vice President, Petroleum & Products at MISC Group, joining the MISC Executive Leadership Team.

Published

3 hours ago

March 18, 2025

Admin

Singapore-based AET appoints Nick Potter as new President and CEO

Singapore-headquartered AET, MISC’s petroleum arm, on Monday (17 March) announced the appointment of Nick Potter as the new President and Chief Executive Officer (CEO) of the company.

Potter also assumed the role of Vice President, Petroleum & Products at MISC Group, joining the MISC Executive Leadership Team.

With over 35 years of experience in the maritime and energy sectors, Potter has led commercial, technical, and operational teams across the globe. He previously served as Head of Shipping and Maritime for Asia, Pacific, and the Middle East at Shell, and before that, as Global Head of Maritime at BG Group.

His career began at sea as an Engineering Officer, before progressing through various roles at Shell and BG, giving him deep expertise in maritime logistics and the tanker business.

Beyond his leadership roles, Potter is a strong advocate for energy transition, maritime talent development, and seafarer welfare. He has actively contributed to key industry bodies, including OCIMF, the Singapore Maritime Foundation, and the International Chamber of Shipping's Clean Energy Marine Hubs Task Force.

Outgoing CEO Zahid Osman welcomed Potter in a symbolic leadership handover at AET’s headquarters, marking a new chapter in our journey.

“As Zahid takes on his expanded leadership role as President & Group CEO at MISC, we look forward to continuing our close collaboration as part of MISC Group,” AET added.

Photo credit: AET
Published: 18 March, 2025

Alternative Fuels

AAL Shipping names methanol-ready multipurpose heavy lift vessel in China

Singapore-based AAL Shipping says it held a naming ceremony for “AAL Dubai” – a multipurpose heavy lift vessel that is methanol-ready – at CSSC Huangpu-Wenchong Shipyard in Guangzhou.

Published

3 hours ago

March 18, 2025

Admin

AAL Shipping names methanol-ready multipurpose heavy lift vessel in China

Singapore-headquartered project heavy lift carrier AAL Shipping (AAL) on Thursday (13 March) said it held a formal naming ceremony for its fifth Super B-Class vessel, AAL Dubai.

The 32,000 dwt AAL Dubai – a multipurpose heavy lift vessel that is methanol-ready – was officially named on March 12 at the CSSC Huangpu-Wenchong Shipyard in Guangzhou, China.

The AAL Dubai is engineered to transport a vast array of cargo, including heavy lift project equipment, breakbulk, and dry bulk, all on a single voyage. With a combined lifting capacity of 700 tonnes, this vessel is designed to offer high efficiency, cargo flexibility, and economies of scale to shippers worldwide.

The vessel will now embark on its maiden voyage, joining sister vessels AAL Limassol, AAL Hamburg, AAL Houston, and AAL Antwerp in serving project cargo customers across Asia, Europe, the Middle East, and the Americas.

“We are now over the halfway mark with our Super B-Class deliveries, and those already in service are exceeding our expectations,” said Liew Teck Liong, Chief Financial Officer at AAL.

“With these vessels, we have achieved both company and industry firsts, and we look forward to redefining what a heavy lift, multipurpose vessel can accomplish as we deploy them for complex cargo challenges.”

Later this year, AAL will take delivery of the AAL Dammam, which will be shortly followed by the AAL Newcastle and AAL Mumbai that have an increased maximum heavy lift capability of 800 tonnes.

Photo credit: AAL Shipping
Published: 18 March, 2025