Compliance risk management
What is compliance risk management? Compliance risk management in the maritime industry is the process of identifying, assessing, and mitigating the risks associated with non-compliance with laws, regulations, sanctions, and standards that apply to the industry. This includes risks related to crew and cargo safety, environmental protection, labor standards, and the countries where cargo is...
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Vessel Vetting
What is vessel vetting? Vessel vetting is a process of evaluating and assessing the suitability of a vessel for a particular purpose, such as carrying a certain type of cargo, or operating in a specific region. This evaluation typically involves a review of the vessel’s technical and operational characteristics, and its safety and compliance record....
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Sanctions Screening
What is sanctions screening? Sanctions screening is the process of checking whether an individual or entity is listed on a sanctions list, or watchlist. These lists are compiled by governments and recognized international organizations to identify individuals or entities subject to financial sanctions, or other restrictions, as a result of their actions or associations. Working...
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Energy Risk Management
What is energy risk management? Energy risk management minimizes the risks involved in the movement or shipment of energy commodities. Managing risks associated with the energy industry is becoming increasingly complex, due to various factors, such as sanctions, evolving deceptive shipping practices, and world events. Energy risk management means determining, assessing, and prioritizing risks associated...
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Enhanced Due Diligence
What is enhanced due diligence? Enhanced due diligence is a process used in the maritime industry to identify and reduce potential risks related to compliance, fraud, and money laundering. Enhanced due diligence involves conducting a thorough background check of a company’s operations, financial status, and reputation to ensure they are compliant with relevant laws and...
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