Singapore's Senat Shipping Says U.S. Sanctions For Alleged North Korean Connections Unfair

by Ship & Bunker News Team
Wednesday July 29, 2015

Singapore-based Senat Shipping & Trading (Senat) is disputing the fairness of imposed sanctions after the U.S. blacklisted the shipper last week for alleged connections to a North Korean company, Reuters reports

The company reportedly maintains that it has done nothing wrong, and has complained that the U.S. was unfair to target both the Senat and its president, Leonard Lai

Reports emerged last week that the U.S. had connected Senat with North Korea-based Ocean Maritime Management Company (OMMC), who had been accused of illegally shipping arms aboard the bulk carrier Chong Chon Gang

The vessel was arrested in Panama in 2013. 

"The US Treasury's move to put Senat and Leonard Lai on the OFAC (Office of Foreign Assets Control) list is a misguided measure purely based on Senat's historical dealings with OMM," said Senat. 

According to the company, it had previously chartered the Chong Chon Gang, but was not the charterer at the time of the seizure. 

Senat also stressed that it stopped dealing with North Korean ship owners following the arrest.

Various other companies have also reportedly struggled with sanctions, including oil-trader Gunvor after its Russian majority shareholder was sanctioned by the U.S. last year.