From Sanctions List to Lay-Up: MOL’s ‘North’ LNG Carriers Sit Idle Months After Delisting

Four MOL LNG carriers built for modern ice-strengthened operations remain idle more than six months after the European Union lifted sanctions following assurances that the vessels would not be used for the transport of Russian LNG.

Three of them were briefly sanctioned by the EU in 2025 over suspected links to Russian Arctic gas exports and have since sat idle off Indonesia underscoring a lack of employment even after the designation was lifted, while a fourth remains without charter in European waters. 

In May 2025, the European Union unexpectedly added North Moon, North Ocean, and North Light to its 17th sanctions package, targeting vessels it said were “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” through their involvement in transporting Russian LNG from projects like Yamal LNG and potentially Arctic LNG 2. 

However, just two months later in July 2025, the EU delisted the three carriers after receiving assurances that they “will no longer engage in the transport of Russian energy” from either Yamal or Arctic LNG 2. 
Since late June/July 2025, North Moon, North Ocean, and North Light have been anchored off Batam, Indonesia, under Singapore flags and remain insured through Japan P&I and UK P&I clubs.

North Valley, the fourth vessel in the same series, was never sanctioned by the EU but appears to have been idle for months off the coast of the Netherlands and more recently Spain, showing no clear new charter. 

Such extended idleness for relatively new LNG carriers, built only in 2024 at Hanwha Ocean in South Korea to Arc4 ice-class specifications, raises questions about how risk aversion and broader market dynamics are impacting charterer willingness to engage. 

“All three vessels sail under the flag of Singapore; and I’m guessing they still need further convincing or assurances. Reputational damage for the country,” speculates Samir Madani of TankerTrackers.com. 

“One way out of this, would be for the vessels to get re-flagged elsewhere other than Singapore,” he continued, pointing to how registry choice can interplay with perceived sanctions exposure.

Fear of future sanctions may be holding charterers back from dealing with these carriers. Even after their removal from the EU list, reputational and compliance risks associated with vessels recently linked to sanctioned Russian LNG may be enough to deter contracts. 

This dynamic exemplifies a passive side-effect of Western sanctions where the fear of sanctions or secondary penalties can interrupt operations just as effectively as formal restrictions, with companies steering clear of associating with assets once flagged, regardless of current legal status.

Another factor limiting their employment prospects may be that Arc4 ice-class carriers are niche assets. Their reinforced hulls and winterization make them better suited for Arctic operations, but may render them relatively uneconomical to operate year-round in ice-free waters compared with more standard LNG carriers optimized for regular trades. 

The number of LNG export or import terminals that routinely require ice-class vessels remains limited, principally including projects like Russia’s Yamal LNG and Arctic LNG 2, further narrowing markets where the four vessels’ unique capabilities are an asset rather than an over-specification.

MOL did not respond to inquiries for comment on the status of the four “North” series vessels or plans for their employment moving forward.

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