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Event Highlights

 

 

Overview

  

Shipping’s corporate veil is being pierced by ever more stringent financial and regulatory compliance requirements. Avoiding sanctions requires increasingly forensic due diligence across the supply chain to ensure security ‘red flags’ are not raised by international governments and agencies that now monitor every aspect of shipping’s trade links.

 

On the upside, a fully digitalised supply chain offers a variety of new opportunities but, on the downside, data standardisation and sharing brings with it potential problems surrounding data storage, ownership and transparency. 

 

Transparency is potentially a double-edged sword for shipping stakeholders. For every digital advance that enhances efficiency and secures compliance, there are risks of liability and insurance risk.  


Key Topics for Discussion

Panel 1 – Sanctions focus

This panel looks at the operational aspect of sanctions, for example, the risks around credit and counter-party charter

The industry is dealing with a myriad of regulations, from the IMO and country trade wars and sanctions, so the repercussions can go well beyond fines and reputational damage.

Many businesses will say, "We won’t do business with Iran", but with complex and opaque connections to 3rd-parties, can they guarantee this? With the Iranians becoming increasingly inventive in the way they evade sanctions, breaches are more likely, how do they cover third/fourth/fifth party as the “We didn’t know excuse” doesn’t wash with countries like the US.

This forum will look at:

  • How you protect against 3rd-party risk – can you only limit your exposure?

  • Where are the real problem points?

  • What are the Iranians doing?

  • Why and how this applies to you?

  • What are the grey areas of risk?

     

Panel 2 - Security & transparency

This panel discusses the industries move to become more transparent and clean up its act. The pressure to do so is coming from multiple sectors, including: environmentalists, regulators, financiers and technology.

The forum will look at:

  • Financial restrictions e.g. Poseidon – Requirement to be transparent to acquire finance

  • Intro of supply chain systems like blockchain which are transparent require shippers to change behaviours and to be more clean and transparent

  • Cyber security – implications for entire industry e.g. recent Maersk breech

  • Does everyone in the supply chain understand each other’s pressures, requirements and strategies?


 

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