After being removed from Western sanctions lists, two liquefied natural gas (LNG) carriers — North Polaris and North Scirocco — owned by Japanese shipping giant Mitsui O.S.K. Lines (MOL) are sitting idle months later, laid up in the Black Sea/Med region and not returning to active trade.
The vessels were previously sanctioned because of their roles moving Russian LNG via complex “shadow fleet” trade patterns, but when they were delisted in late 2025, industry watchers expected them to resume commercial service. However, they remain in lay-up or minimal activity, puzzling market analysts.
Idle LNG carriers reduce effective fleet capacity, tightening availability for charterers and potentially putting upward pressure on freight rates if other LNG tonnage stays tight.