RightShip has announced its collaboration with LSEG (London Stock Exchange Group) to use data in order to enhance transparency in maritime operations.
This collaboration aims to promote maritime transparency though data in the sense that it hopes to enable end-users such as charterers, financial institutions, traders, port authorities, and ship owners to thoroughly screen and assess vessels and maritime companies for risks associated with sanctioned or embargoed entities.
The primary goal is to address the issue of shipping companies evading trade sanctions related to restricted items and international sanctions. The integrated solution will cover all maritime vessels listed on sanctions, watchlists, and enforcement lists, providing information on vessels registered in or associated with sanctioned countries or entities.
This includes details about registered owners and beneficial owners connected to these vessels, ensuring comprehensive coverage and transparency.
Transparency, supported by data, is crucial for addressing the increasing challenges and scrutiny in the shipping sector’s governance. Our partnership with LSEG allows us to offer our customers a seamless workflow-based understanding via our vetting processes of shipping risks, enhancing the transparency required to overcome these obstacles.
… said Steen Brodsgaard Lund, Chief Executive Officer, RightShip
To remind, in an exclusive interview to SAFETY4SEA,. Andrew Roberts, Executive Director, EMEA, RightShip, had highlighted the importance of data sharing and increased transparency for enhanced safety culture, both onboard and ashore. According to Andrew Roberts, the more third-party, independent data there is being used by industry stakeholders, the more chance we have to hold companies accountable for poor safety management or for contributing to high numbers of seafarer abandonment cases.
