Maritime Due Diligence
Vessel compliance and due diligence programs are a commitment to support your central business mission.Learn More
Ultimately, a strong risk-based due diligence program can help ensure your shipping and logistics organization “knows its vessels” and feels confident about having a relationship with them without risking regulatory scrutiny. Furthermore, it’s important that your organization is prepared to respond swiftly and efficiently should an issue arise.
Why Conduct Maritime Due Diligence?
While the number of vessels and fleets subject to international sanctions is relatively small and easy to identify, there are many more that may fall outside an organization’s risk appetite, possible preventing organizations from doing business with certain fleets or vessels. These risks can be heightened when a vessel operates in a remote or unfamiliar geography or is registered in one of the many jurisdictions where registers are non-transparent and poorly maintained. Given the multifaceted and insular nature of the maritime industry, standard due diligence on vessels and their related parties may not reveal ties to governments, entities, and individuals that are sanctioned. A specialized approach is needed.
To learn more about keeping your vessel supply chain compliant and mitigating reputational and regulatory risk, reach out to our maritime due diligence experts today.