A United Nations-blacklisted North Korean shipping company has renamed most of its vessels in a bid to disguise their origin and continues illicit shipments in violation of sanctions, according to a U.N. experts report seen by reporters on Wednesday.

The U.N. Security Council's Panel of Experts on North Korea, which monitors implementation of sanctions on Pyongyang, also said in the 76-page report that North Korea "continued to defy Security Council resolutions by persisting with its nuclear and ballistic missile programs."

North Korea is under United Nations sanctions because of its nuclear tests and missile launches. In addition to arms, Pyongyang is banned from importing and exporting nuclear and missile technology and is not allowed to import luxury goods.