North Korea could have majorly scaled up their arms and weapon systems thanks to a Singapore-registered shipping company.
Chinpo Shipping Company made a huge mistake when they paid Panama shipping agent CB Fenton and Co US$72,016 to let a North Korean vessel — which had been from Cuba and was making its way home — travel through the Panama Canal in July two years ago.
Channel NewsAsia reports that the incident was a breach of the United Nation’s sanctions against the isolated nation. After all, the vessel had been carrying six trailers associated with surface-to-air missile systems and 25 shipping containers loaded with two disassembled aircraft, aircraft engines and ammo. All of which were hidden beneath 10,500 metric tons of sugar.
According to District Judge Jasvender Kaur, the shipment allowed to pass through was the largest amount of arms and related material intercepted since the economic and commercial sanctions on North Korea were imposed.
She has since ordered Chinpo to fork out $80,000 for the first charge of transferring financial assets or resources that could have been used to contribute to North Korea’s weapons programmes.
An additional $100,000 fine was slapped on the company for carrying out a remittance business without a valid licence from 2009 to 2013. They had performed remittances amounting to over US$40 million on behalf of North Korean entities.
