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What is the SHIP Act? The Stop Harboring Iranian Petroleum Act (SHIP Act) was enacted as part of the Emergency Supplemental Appropriations for the 2024 Fiscal Year. It aims to impose sanctions on foreign individuals and entities involved in the trade of petroleum and petroleum products originating in Iran. It specifically targets the shadow fleet...

What is Data Fusion? Data fusion is the process of integrating data from multiple sources to create a unified, accurate, and comprehensive view. In the maritime industry, where data can often be noisy or fragmented, fusion eliminates inconsistencies and enables advanced AI models to deliver full visibility and actionable insights. Without data fusion, organizations face...

What is Commodity Trading? Commodity trading is the buying, selling, and exchanging of raw materials or primary goods. These goods are typically classified into two categories: hard commodities (like metals and energy resources) and soft commodities (such as agricultural products). Traders engage in this activity to profit from price fluctuations, hedge risks, or fulfill supply...

What is a Security Team in the Maritime Industry? A security team in the maritime industry is a specialized group tasked with ensuring the safety and security of vessels, crews, and cargo in maritime environments. They work for a variety of organizations and are essential in the planning and execution of commercial shipments that traverse...

What is Risk Mitigation? Risk mitigation refers to the process of identifying, assessing, and prioritizing risks, followed by the application of resources to minimize, control, or eliminate the impact of those risks on an organization. The goal of risk mitigation is to reduce the probability of a risk event occurring and to minimize negative consequences...