RightShip, a digital maritime platform, has joined forces with the London Stock Exchange Group to combat shipping companies which evade trade sanctions around the world.
LSEG’s existing World-Check database will be integrated into RightShip’s digital platforms, meaning its users can screen both vessels and shipping firms, and spot risks associated with the business they have done and sanctions that may have been contravened.
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RightShip’s product includes as vetting process, and the LSEG database with at least 4 million records will enhance the service, according to the pair of companies.
The records include information on vessels that are registered in, linked to, or flying the flag of a sanctioned country or entity. When applicable, the companies explained, it will also cover details of the registered owners and beneficial owners connected to these vessels.
RightShip added that its team of specialists would track risks and offer insight “in real time”.
“By collaborating with top maritime due diligence and sanctions intelligence providers, we’re offering our customers a vetting solution that fills the gaps in their shipping risk management workflows,” said RightShip’s CEO Steen Brodsgaard Lund.
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By GlobalData“This comprehensive approach provides a clear picture of the risks they face. Through this partnership, we aim to help organizations navigate the maritime industry’s growing complexities, ensuring they remain compliant, minimize risks, and maintain confidence in their trading activities,” he added.
