IHS Markit Maritime & Trade welcome you to a discussion on the current activity and scope of the North Korean flagged shipping fleet in regard to global economic sanctions and the potential risks this poses to trade finance and the supply chain.
The United Nations North Korea Panel of Experts recently released their annual report for 2021 and have uncovered a number of new developments in regard to maritime activity conducted by North Korea. New shipping practices for the avoidance of sanctions include; swapping of a vessels identity, the manipulation of AIS transmissions, the use of feeder vessels for ship-to-ship transfers and foreign flagged or unknown flagged ships delivering cargo directly to DPRK ports. In light of the UN report, IHS Markit recently uncovered a series of new vessels, previously with an unknown flag status, now registered with North Korea. These newly flagged North Korean ships have been in operation for a number of years and cover a variety of types ranging from tankers, bulkers and general cargo vessels. Up to now, they have generally been operating under the radar with a lack of due attention.
During this webinar, the IHS Markit team will highlight a series of practices used by North Korea to avoid maritime sanctions and underline how organisations can manage the associated vessel risk appropriately.