12 Dec 2019
The Latvian port is a key Baltic distribution point for middle distillates such as diesel and gasoil as well as...
The maritime universe is often fragmented and opaque, which creates challenges for you in understanding who you are doing business with. Several maritime information providers display the basic unverified and often outdated information, resulting in our customers increasingly observing variances in vessel ownership.
At Lloyd’s List Intelligence we understand that you need the most comprehensive and up-to-date information on maritime companies to remove confusion and make timely business decisions. This is why we focus on adding value to data with human intelligence that is unavailable from other providers in the market. We are uniquely placed to offer you a depth of research that customer feedback suggests would save your organisation time and resources.
Adding visibility to vessel ownership
Access to specialists who dig deeper, going beyond the only documented level of ownership are vital to organisations looking to reduce the risk of breaching sanctions and fraud.
The dedicated ownership team at Lloyd’s List Intelligence update verify and investigate data anomalies, making on average 1,200 weekly changes to the ownership information of the 70,000+ shipowner and operator entities with live vessels in their fleets. We also research and validate around 500 vessel name and flag changes every week, all within 24 hours of changes reported via the Automatic Identification System directly from the ship itself.
We are often contacted by clients with questions such as the following:
“Lloyd’s List Intelligence shows Vessel XYZ as being under a sanctioned energy company’s ownership, while other sources like maritime data provider 1 and maritime data provider 2 do not mention this owner and state that it is owned by Company A.
Could you please confirm your records on this vessel’s ownership?”
*Sample company names have been used due to the sensitive nature of the topic.
Lloyd’s List Intelligence’s specialist ownership team investigated and confirmed to the customer that while the registered owner of Vessel XYZ was Company A as stated by the other two maritime data providers, we understood from our sources that the vessel was commercially controlled by another entity, Company B, which itself was part of Company C, a sanctioned energy company that we identified as the ultimate beneficial owner of the vessel. In addition, a separate third party operator was identified, Company D.
This example can be visually represented in the following way:
With ownership and operational structures as opaque and complex as this, access to specialists who dig deeper and go beyond the registered owner and surface level research are vital to those looking to reduce the risk of fraud and breaching sanctions.
As compliance and “know your customer” are set to be growing areas of focus for financial institutions, the insurance sector and others industries wishing to manage and reduce risk, it is vital to have access to detailed and transparent ownership structures.
At Lloyd’s List Intelligence we are committed to providing the quality and accuracy of maritime data required by these industries and we continue to invest in our human intelligence networks to support our customers needs.
12 Dec 2019
The IMO secretary general says he intends to travel to Brussels, while industry lobbies express concerns over Commission and Parliament...
12 Dec 2019
'Today’s designations put the world on notice that those who engage in illicit transactions with these companies will risk exposure...