Risk and compliance
Shipping is not becoming any less complicated and compliance risk is not moving down the industry agenda any time soon. Russian sanctions have only added to the complexity, and a maze of international enforcement that is riddled with contradictions.
Shipping faces a sanctions compliance crisis
Banks have invested billions of dollars on sanctions compliance capabilities over the past decade, but the shipping industry has not kept pace. With Russian sanctions reaching across the corporate spectrum like never before, a compliance crisis looms
The business of shipping is getting more complicated
Russian sanctions may have sparked the current compliance crisis, but the industry’s routine outsourcing of skills over decades has left a hole in its collective ability to navigate complexity
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Shipping’s carbon compliance challenge looms large
Dragging shipping into the European Union’s Emissions Trading Scheme will add red tape for companies, particularly smaller ones, but it could also force transparency
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Private Chinese refineries are top receivers of Iranian crude
Investigation finds that 10% of rebranded Iranian crude blends tracked are arriving at so-called ‘teapot’ refineries
Russian sanctions provide opportunity for Greek shipowners
As oil exports from Russia head east, some of Greece’s most prominent shipowners are picking up new business
Mind the gap: Illegitimate and fraudulent shipping practices threaten regulatory integrity
The rise of fake flag registries, forged documents, fraudulent classification societies and illegitimate P&I clubs — and, more seriously, the issuing and laundering of IMO and MSSI numbers — is now threatening the integrity of the global regulatory system underpinning world trade
US position on Russian sanctions is far from clear-cut
The US has followed its UK, Canadian and EU counterparts with restrictions on Russian-associated vessels in response to the invasion of Ukraine, but abiding to the latest presidential proclamation is no mean feat
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