Compliance

Trading with confidence through our industry-leading compliance standards.

Our purpose

Our purpose is to ensure business ethics and transparency within the organisation, while remaining committed to supporting and protecting business opportunities and relationships.

Every vessel and counterparty in our system is screened for sanctions concerns, as well as for adverse media, political exposure and other high risk factors. If any issues are found, the trader will require compliance clearance before proceeding.

Role and functionality

We look at the risks posed by sanctions, bribery & corruption, money laundering & terrorist financing, bunker fraud and the absence of adequate counterparty due diligence and adapt all necessary measures to manage and mitigate these risks in line with, and often above, industry best practice.

In a global market vulnerable to high-risk transactions, we are consistently aligned with international regulations on sanctions, bribery and corruption and observe strict compliance when conducting enhanced due diligence on all vessels and counterparties.

Every vessel and counterparty in our system is screened for sanctions concerns, as well as for adverse media, political exposure and other high risk factors. If any issues are found, the trader will require compliance clearance before proceeding. This means that if a customer or supplier is politically exposed, the owners of the vessel are sanctioned or unknown, the vessel has called a sanctioned jurisdiction (e.g. Iran), there are inconsistencies in the vessels’ trade patterns and she has gaps in the AIS or the vessel is sailing under a Cuban flag, the deal requires approval from Compliance.

Key features

• Implementation of sophisticated and effective tools to minimise our compliance risks.
• Strict corporate housekeeping as well as active monitoring and screening of all our counterparties and vessels thereby allowing us to react immediately should an issue arise.
• A global team of specialists covering all major time zones.
• An active member of the Maritime Anti-Corruption Network (www.macn.dk/) and working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large. We are committed to ensuring good corporate practices within the maritime industry to tackle bribes, facilitation payments and other forms of corruption.