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Annotation 2020-06-17 082330.jpg Windward
Number of vessels with suspicious behavior in or near countries subject to sanctions

Windward supplies BP Shipping with sanctions compliance software

Maritime trade analytics and insight company Windward reports that it has partnered with BP Shipping to enable the energy company to digitise its business trade practices on sanctions compliance.

Mark Fortnum, BP Shipping’s vp of Technical and Vetting, commented that the two companies had been working together for 12 months to provide a solution adapted to BP Shipping’s needs.

“The OFAC (Office of Foreign Assets Control) advisories published recently are a game-changer for the maritime and trade ecosystems regarding compliance requirements,” he said. “Solutions that can increase both quality and efficiency in our sanctions compliance operations are essential across all related business transactions.”

Ron Crean, vp - Commercial at Windward said, “We are excited to partner with BP Shipping. They are a global leader in energy and shipping, continually at the forefront of implementing new solutions such as analytics and AI to drive and protect the business in a changing regulatory environment.”

Windward describes its service as fusing AI, big data and maritime expertise in an innovative way to better understand the marine ecosystem and its implications for business. Specifically, the company says it is able to analyse the vessel behaviour of known sanctions evaders in order to proactively detect suspicious operating patterns by counterparties that could lead to exposure to a sanctions risk.

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