The European Union has introduced the 15th sanctions package, in its continued effort to address sanctions circumvention and undermine Russia’s military and industrial capabilities. It targets 52 additional ships involved in high-risk activities, including transporting oil, arms, and stolen Ukrainian grain. Escalating Measures Against Russia’s Shadow Fleet The EU’s focus in this sanctions package is...
Windward customers keep winning! A Spanish operation in the Atlantic led to the seizure of 4 tons of cocaine, according to a LinkedIn post from the Maritime Analysis and Operations Centre – Narcotics (MAOC-N). Shared Intel & Operational Plan Lead to Huge Drug Bust The MAOC-N is an initiative by nine EU Member Countries (France,...
Windward is excited to participate in next week’s Singapore Maritime Week (SMW) 2024. We’ll be part of the new trade exhibition, Expo@SMW, from April 16-18, which will bring together leading experts to unveil the latest in maritime research and development.
This year’s theme, “Actions Meet Ambition,” reflects an emphasis on the maritime sector’s desire to adopt proactive measures and more strategic decision-making to tackle evolving risk and industry-wide challenges, while setting ambitious goals for innovation and sustainability.
Come talk to Windward at our booth to discover the elements that will help your organization embody this year’s theme (More on that below…).
Singing Singapore’s Praises
In many ways, maritime trade has forged Singapore into what it has become today – a cultural melting pot, plus a maritime and economic hub. The strategic location of its port made it an ideal conduit to facilitate trade between Europe and Asia.
Today’s Singapore is strategically positioned at the crossroads of major shipping lanes, making it an integral node in the global maritime ecosystem. Its role extends beyond logistics and trade – Singapore is a hub for innovation as well as a testing ground, with many leading maritime organizations maintaining a presence there.
Hot Topics for Singapore Maritime Week 2024
Here are just a few of the hot topics we expect to be raised at the industry event:
Changing Stance on Russian Oil
Sanctions risk related to Russian trade continues to evolve, with the EU’s 11th and12th packages and OFAC’s Quint-Seal compliance note and two-year anniversary sanctions package substantially impacting maritime trade dynamics.
Key areas of focus include the notable decline in direct Russian oil exports, shifts in ship-to-ship transfer hubs, changes in global trade routes post-sanctions, and intriguing strategies employed to navigate the complex sanctions landscape.
One example of the effect of shifting regulations is the number of direct oil export voyages to India that continued to decrease during Q1 2024, with an unprecedented monthly average drop of 22%! This comes after regulators from various countries heavily targeted Indian entities and stakeholders for their ongoing enablement of Russia oil trade outside of the price cap frame.
There’s no chance that the Red Sea disruptions won’t be a hot topic of conversation at Singapore Maritime Week 2024. Following a period of relative quiet for eight days up until the beginning of April, there was an increase in attacks on shipping in the Red Sea and fears of the conflict spilling over into the Arabian Sea, too.
The trend of vessels avoiding the Red Sea and taking the long detour to The Cape of Good Hope continues. Windward’s Maritime AI™ platform shows 134% and 70% increases in the monthly average of voyages through The Cape of Good Hope by container and tanker vessels, respectively, (compared to Q4 2023).
Generative AI and its Potential for the Maritime Industry
As discussed in our recent Customer Advisory Board (CAB) blog post, Gen AI has the potential to also have a great impact on the maritime industry. Gen AI could be used to:
Improve trade efficiency/reduce trade friction
Ensure compliance with global sanctions, security, and Know Your Customer (KYC) regulations
Provide AI-driven supply chain visibility for cargo, containers, and commodities transported by sea
Monitor and reduce carbon emissions from vessel journeys
Come to our booth at SMW to hear how generative AI can scale up automation and customer service in real-time, which would spike operational efficiency and cost savings.
Ambition Requires Action!
“Action Meets Ambition” is a great theme, but it’s important to remember that ambition requires action. And action requires actionable insights, risk recommendations, and strategic decision-making, which can only be fully achieved with Maritime AI™.
The maritime ecosystem and global supply chain seem to be increasingly volatile. Actionable visibility is critical, so users can better understand how trade flows are changing, detect deceptive shipping practices, and stay ahead of competitors with proprietary, AI-driven insights. Also, evolving risk brings opportunity – such as new bunkering hubs and new budgets for technologies that can be leveraged to push your business forward.
Reach Out Before the Event
Everything you need to know about Maritime AI™ directly to your LinkedIn
The EU’s 15th Sanctions Package: Targeting Russia’s Shadow Fleet
The European Union has introduced the 15th sanctions package, in its continued effort to address sanctions circumvention and undermine Russia’s military and industrial capabilities. It targets 52 additional ships involved in high-risk activities, including transporting oil, arms, and stolen Ukrainian grain. Escalating Measures Against Russia’s Shadow Fleet The EU’s focus in this sanctions package is...
Tackling Location (GNSS) Manipulation with Windward’s Patented Tech
Staying ahead of deceptive shipping practices (DSPs) and global navigation satellite system (GNSS) manipulation isn’t just an operational advantage, it’s a necessity. With high stakes and complex challenges, businesses need cutting-edge solutions they can trust. Location (GNSS) manipulation is expanding rapidly, with an identifiable main geographic hub… Two New Patents Two newly approved patents for...
Unique Insights on the Nearly 400 Iran-Linked Vessels Flagged by EIA
TLDR: Iran’s Billions in Oil Exports Worrisome trends were revealed in the U.S. Energy Information Agency’s (EIA) first report about Iran’s petroleum exports, as required by the Stop Harboring Iranian Petroleum (SHIP) Act. According to the non-partisan Foundation for Defense of Democracies (FDD): “The report found that between 2021 and 2023, Tehran sold $144 billion...
Two Critical Factors for Security Teams Protecting Global Fleets
The Houthis have significantly escalated their activities in the Red Sea, a vital maritime corridor, since November 2023. Over 70 attacks have been reported, and have led to the sinking of two vessels and the seizure of another, with devastating consequences, including the deaths of at least three seafarers. The attacks have heightened security concerns...
