RIGHTSHIP has partnered with the London Stock Exchange Group to integrate LSEG’s World-Check screening tool into RightShip’s digital maritime platform.
The product of that partnership is LSEG World-Check One – a tool designed to augment the risk management framework for governance risks in the maritime industry.
RightShip intends for the tool to help charterers, financial institutions, traders, port authorities and ship owners to screen and assess vessels and the maritime companies that they do business with for risks around sanctioned or embargoed vessels.
The goal is to provide businesses with the information they need to make informed and secure decisions in line with global regulations and directives.
RightShip said many shipping companies in recent years had been caught evading trade sanctions related to oil, arms and other restricted items, as well as broader international sanctions
“Transparency, supported by data, is crucial for addressing the increasing challenges and scrutiny in the shipping sector’s governance,” RightShip CEO Steen Brodsgaard Lund said.
“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,” he said.
“By collaborating with top maritime due diligence and sanctions intelligence providers, we’re offering our customers a vetting solution that fills the gaps in their shipping risk management workflows.
“This comprehensive approach provides a clear picture of the risks they face.
“Through this partnership, we aim to help organisations navigate the maritime industry’s growing complexities, ensuring they remain compliant, minimise risks, and maintain confidence in their trading activities.”
The integration encompasses all maritime vessels listed on sanctions, watchlists, and enforcement lists.
This includes information on vessels that are registered in, linked to, or flying the flag of a sanctioned country or entity.
When applicable, it would also cover details of the registered owners and beneficial owners connected to these vessels.
