Maritime AI is a term for machine learning models uniquely attuned to maritime nuances and data. Maritime AI is the result of models which are trained on thousands of dynamic maritime data points. The data quality is crucial here. From AIS transmitters, radar signals, and imagery data, a multi-source data pool helps deliver a real-time…
According to Bloomberg, the energy market in Asia is driving new demand for alternatives to natural gas. And they’re willing to pay top dollar. As a result, LPG purchases – including propane and butane, are expected to pick up. But due to tighter supplies, prices are hiking to unprecedented levels. What does this mean? As long…
When OFAC and the USCG came out with an advisory on sanctions compliance, they set the regulatory bar very high – requiring all stakeholders in the shipping and trading industry to meet enhanced due diligence standards. As a result, the need to go beyond list-matching and towards a more dynamic approach to evaluating maritime risk…
In September, the FCA published a ‘Dear CEO’ letter to banks, with a strong and undeniably clear message of the gap in managing financial crime risks. According to the letter, “assessments of individual firms have highlighted several significant issues relating to both credit risk analysis and financial crime controls.” The letter, while blunt, comes as…
Unlike shipowners or charterers, banks are far removed players from data on shipping emissions. And yet, as the financing entities, they are major stakeholders in a greener future. According the latest UN climate report, unless immediate, rapid, and large-scale action is taken to reduce emissions, the average global temperature is likely to reach or cross…
In today’s digital age, visibility is everything. The sharing economy is a perfect example. Rather than hailing a cab, we can instantly order a ride of our choice. We can see the type of car, the driver, the ETA, the driver’s rating, and so much more. This visibility has made travel more comfortable, more efficient,…
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There are a lot of solutions out there that aim to help players across the maritime ecosystem measure and monitor emissions. But there is still a gap when it comes to data accessibility and visibility – both which are critical to drive real change. We sat down with our very own Benny Keinan, VP of…
With consumer pressure and activism growing, industry leaders are in a perfect position to re-strategize and build for the future. Our latest eBook, “Managing Environmental Risk and Making Sustainability Work for Your Business,” explores how stakeholders can navigate the challenges the industry is facing, while maximizing their decarbonization strategy. It includes insights on why industry-wide…
World trade is nearly 32 times greater now than it was in 1950. Today, $14 trillion is spent each year on transportation globally – over 90% of which is by sea. And while there has been incredible innovation in the global transportation of goods, there is still a gap in how technology is used to make maritime trade more…
The May 2020 advisory demanded a higher level of due diligence, and the market reacted by onboarding more advanced systems. Nevertheless, the counteraction by bad actors was fast and more sophisticated than expected. With advanced deceptive tactics on the rise, stakes are higher than ever. One of the latest tactics trending in the news is identity laundering….
The resignation of Lebanon’s president and his government have thrown the country into a political crisis. On August 26th, news reported that Iran would ship more fuel to Lebanon and said more vessels carrying Iranian fuel would sail soon. An Iranian sanctioned tanker, the FAXON, which recently operated in Venezuela, is, according to some reports,…
According to the Financial Action Task Force, the United Arab Emirates (UAE) has 39 different company registries. Many of these exist to help promote economic growth in the various free trade zones (FTZs). However, the expansion of the UAE’s FTZs and the country’s myriad of company registries have created ample opportunity for exploitation. Complex company…
