RightShip, an ESG-focused digital maritime platform, is giving its customers an insight into sanctioned companies and ships through the launch of LSEG World-Check One.
This tool, which is the result of a collaboration with the financial markets infrastructure and data provider London Stock Exchange Group (LSEG), will allow end-users, including charterers, financial institutions, traders, port authorities and ship owners to comprehensively screen and assess vessels and the maritime companies that they do business with for risks associated with sanctioned or embargoed vessels.
The partnership will integrate LSEG’s World-Check into RightShip’s digital maritime platform and vetting workflows.
LSEG World-Check One is a risk assessment tool that reviews vessels against a comprehensive range of sanctions and related risks. It uses World-Check, the global standard database for sanctions and regulatory risk, containing more than 4 million records.
Specifically, the integration will encompass all maritime vessels listed on sanctions, watchlists, and enforcement lists. This includes information on vessels that are registered in, linked to, or flying the flag of a sanctioned country or entity. When applicable, it will also cover details of the registered owners and beneficial owners connected to these vessels.
Steen Brodsgaard Lund, chief executive, RightShip speaking at London Stock Exchange group office in Singapore, said: “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.
“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. This comprehensive approach provides a clear picture of the risks they face.”
Source: RightShip
