RightShip, a global ESG-focused digital maritime platform, unveils the introduction of LSEG World-Check One, marking a significant partnership between RightShip and the London Stock Exchange Group (LSEG), a global financial markets infrastructure and data provider, to enhance the risk management framework for governance-related risks in the maritime sector.
According to a statement, this tool aims to assist users in navigating the complexities of moving cargo in a dynamically challenging and politically unstable environment.
Furthermore, the collaboration will involve integrating LSEG’s World-Check into RightShip’s digital maritime platform and vetting processes. This integration enables various end-users, including charterers, financial institutions, traders, port authorities, and ship owners, to conduct comprehensive screening and assessment of vessels and maritime companies they engage with for risks associated with sanctioned or embargoed entities.
Also, this initiative equips businesses with crucial information to make well-informed, secure, and sustainable business decisions in compliance with global regulations and directives.
In response to the surge in shipping companies evading trade sanctions, World-Check is bolstering RightShip’s vetting procedures by integrating a comprehensive database of over 4 million records.
Backed by a team of 400+ specialists monitoring global risks in real-time, this enhancement offers companies enhanced oversight and clarity regarding their risk exposure.
The integration will encompass all maritime vessels listed on sanctions, watchlists, and enforcement lists, including those registered in, linked to, or flagged by sanctioned countries or entities. It will also provide details on registered and beneficial owners associated with these vessels, ensuring thorough coverage and transparency.
“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,” stated Steen Brodsgaard Lund, Chief Executive Officer, of RightShip.
