#Fleets

Report: US Treasury Allows Demolition Sale for Four Sanctioned Ships

The U.S. Treasury authorized a demolition sale for four sanctioned vessels linked to the Shamkhani shipping network, an Iranian smuggling organization. The ships—Yogi, Timon, Rantanplan and Bigli—belonged to Mohammad Hossein Shamkhani's shadow fleet. Cash buyer GMS received special approval from the Trump administration to purchase the vessels for scrap value, potentially setting a precedent for future sanctioned ship sales to shipbreakers in Bangladesh, India and Pakistan.