Windward’s Predictive Intelligence platform is driving the digital transformation of the oil trading industry by optimizing transactions with vessel screening, enhanced sanctions compliance, and fleet monitoring
LONDON, Feb. 16, 2022 /PRNewswire/ — Windward (LSE: WNWD), the Predictive Intelligence company applying AI to transform global maritime trade, announced today that it has partnered with Avin International, an independent tanker operator active in the shipment of crude oil and petroleum. The partnership was formed through Oriani Hellas, Windward’s regional representation in Greece, a region critical for the oil industry as Greek parent companies represent more than 25% of the world’s tanker fleet. Avin International will use Windward’s AI-powered platform to bolster its sanctions compliance program, screen vessels, and assess maritime traffic and port congestion.
The energy industry has seen an increase in regulatory requirements in recent years driving the need for a clear understanding of the entities stakeholders conduct business with, directly or indirectly. As methods of deceptive shipping practices become more advanced, the onus lies with all entities involved in oil trading to ensure that vessels aren’t being used for illicit purposes. Ship operators in particular are mandated to ensure compliance with industry and government regulations, and therefore need to optimize their due diligence processes to guarantee the vessels they manage are being used solely for legitimate trading purposes.
Avin International will optimize its oil trading operations using Windward’s platform to enhance sanction compliance processes, monitor its fleet, screen vessels that interact with its fleet, and assess traffic and congestion in areas and ports of interest. Windward’s platform analyzes numerous factors including vessel behaviors, ownership structures, company risks, and others, predicting in real-time which companies and vessels are likely to be high risk, and which are safe to conduct business with. Windward’s solution is easily integrated into existing workflows, enabling Avin International to free up resources to focus on other business needs.
“Regulators in the oil trading industry are raising the bar for all entities involved in sanctions and compliance processes. There is a critical need for solutions that not only effectively mitigate risk, but also enable business readiness,” said Ami Daniel, CEO and Co-Founder of Windward. “Windward is proud to be the leading solution for maritime risk and we are excited to partner with Avin International, a ship operator with a long-standing history of providing services of the best quality and the highest levels of efficiency for the world’s oil majors, to optimize their compliance and sanctions processes.”
Windward’s Maritime AI solution is powered by advanced machine learning and behavioral analytics models, empowering its clients across the finance, shipping, energy sectors, and beyond to optimize business practices and efficiently navigate all aspects of maritime risk in real-time.
“Our partnership with Windward is vital for enabling business readiness, allowing us to make decisions faster and with confidence,” said Capt. Xagoraris, CEO of Avin International. “Windward’s platform is easy to use and provides high quality insights based on verified data and advanced AI. With these new capabilities we can now focus our efforts on developing our business knowing that our fleet is well monitored and that our brand reputation remains honest and dependable.”
Windward (LSE: WNWD), a publicly traded company on the London Stock Exchange, is the leading Maritime AI™ company, enabling organizations to achieve business and operational readiness. Windward’s AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, business, and the supply chain. For more information visit: https://windward.ai/.