Maritime and Trade Talk by S&P Global Market Intelligence - From risk and compliance to global supply chain, our podcast provides in-depth discussions and actionable insights with top industry experts and guests from the maritime, trade and supply chain industry. Subscribe for the latest insight and opinion on trends shaping the shipping, trade and supply chain industry from trusted experts.
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The prolongation of existing — and emergence of new — armed conflicts will likely remain a major source of geopolitical instability in the world economy, according to our strategic report on key themes for 2024. Following Iran's recent strike on Israel, we pose the question: What could an escalation mean for the global economy? Explore our full library of S&P Global Market Intelligence podcasts > Read our blog on escalation implications > Download our report on 2024 themes > Speakers: Ken Wattret Vice-President, Global Economics, S&P Global Market Intelligence Kristen Hallam Lead Content Strategist, S&P Global Market Intelligence
We see five key overlapping themes for the year ahead. In this episode, we explore the theme of geopolitical reordering. National interest objectives will influence reordering of relationships between countries and in multilateral forums, impacting global challenges, flows of trade, and investment. An important indicator underlying the direction of these risks in 2024 will be the outcomes of more than 70 scheduled elections — half of which will be presidential elections. The outcomes will have major implications for policy direction and priorities. Download the complimentary strategic report, 2024: A disjointed world: https://www.spglobal.com/marketintelligence/en/mi/Info/1123/2024-disjointed-world.html Speakers: Laurence Allan Head of the Europe/CIS Insights and Analysis, S&P Global Market Intelligence Kristen Hallam Lead Content Strategist, S&P Global Market Intelligence
One of our key themes for 2024 is logistics rewired. At the world's largest ocean container shipping event, TPM, shippers and their transportation providers will have plenty to talk about. Navigation restrictions on the Panama Canal, rerouting from the Red Sea to avoid attacks from Houthi militants, the persistent issue of overcapacity. How is the shipping industry responding to these shocks and what impact could we see on trade and the global economy? Join us at #TPM24, March 3 - 6, where these issues will be discussed in depth: https://events.joc.com/tpm/index.html Speakers: Mark Szakonyi Executive Editor, JOC, S&P Global Market Intelligence Kristen Hallam Lead Content Strategist, S&P Global Market Intelligence
2023 was a year of recovery, giving the air of a return to normal. Unfortunately, normal for supply chains means guiding operations through the middle of a storm of potential disruptions. Some are already visible, including the knock-on from conflict in the Middle East and the prospect of a renewed wave of trade protectionism. Others will emerge by surprise. Our experts discuss the prospects for trade and supply chains in 2024, with topics including: Physical operations present the biggest challenges, with conflict in the Middle East and climate change disrupting shipping networks. The prospect of accidents in the South China Sea triggering further challenges cannot be ruled out. Labor strikes may generate further friction. Politics introduces a renewed round of uncertainty thanks to widespread elections. The rise of protectionism and retaliation which got underway in 2023 may spread in 2024 with the real impact only coming in 2025. The cost of environmental policies may widen and rise. More positively there's the prospect of new trade deals ahead. Supply chain and trade activity will stabilize and should recover, particularly in hard-hit non-AI electronics. Decision-makers can prepare by investing in resilience and agility, but it appears investments in risk mitigation alone aren't being prioritized with the result that firms may be sleep-walking into the next round of disruptions. Watch the on-demand here: https://pages.marketintelligence.spglobal.com/The-Storm-Before-the-Storm-Q1-24-Trade-and-Supply-Chain-Outlook-Registration-January-2024-FS.html Speakers: Agnieszka Maciejewska Economics Manager, GTAS Forecasting, S&P Global Market Intelligence Chris Rogers Head of Supply Chain Research, S&P Global Market Intelligence
Droughts and flood events in recent years have highlighted the importance of water as a strategic global resource. Climate change will impact access to water and force many countries to modify how they manage resources, according to a new report from S&P Global Market Intelligence. The prevalence of severe difficulties to predict weather patterns is likely to continue across the globe affecting populations, countries' economic performances and key industries that rely on water as an essential resource. The El Niño climate pattern is forecast to significantly impact the world in 2024. Water-related stress, however, will be an issue for many years to come in many parts of the world. How will governments and businesses respond to water stress? And which industries are most likely to be affected? Download the 2024 Sustainability Outlook full report: https://pages.marketintelligence.spglobal.com/Big-Picture-2024-Sustainability-Request-CD-Request.html Access all the 2024 Big Picture reports: https://www.spglobal.com/marketintelligence/en/campaigns/the-big-picture-industry-outlook Speakers: Veronica Retamales Burford Senior Research Analyst, Latin America Country Risk, S&P Global Market Intelligence William Farmer Analyst, Sub-Saharan Africa, Country Risk, S&P Global Kristen Hallam Lead Content Strategist, S&P Global Market Intelligence
Deceptive shipping practices began to emerge as a topic of interest in 2020, following guidance from the U.S. Treasury Department. Subterfuge shipping has always been an issue. But this proverbial game of cat and mouse has continued to escalate in terms of the complexity of tactics used to circumvent these regulations, as well as the industry tools used to identify and combat them. How are the tactics used in subterfuge shipping activities evolving? And what risks do they pose for businesses and financial institutions? Read the paper: Maritime State of Play Report: Deceptive shipping practices — Emerging company trends Read the paper: Maritime State of Play Report: Evolution of deceptive shipping practices — Disabling/manipulating AIS Speakers: Jeremy Domballe Subject Matter Expert, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Kristen Hallam Lead Content Strategist, S&P Global Market Intelligence
The supply chain story of 2023 so far has been one of normalization. Demand has slowed down with U. S. seaborne imports of consumer goods falling in the first eight months of the year. The seasonality of shipping patterns also appears to be returning to normal and global trade activity is likely to stabilize. But as ever, we see risks on the horizon. Trade policies are becoming more restrictive and sustainability policies are starting to have real consequences for supply chains. Water stress and labor action also threaten supply chain stability. What is driving the return to normal in supply chains? What strategies are companies exploring to build resilience? Speakers: Chris Rogers - Head of Supply Chain Research, S&P Global Market Intelligence Kristen Hallam - Lead Content Strategist, S&P Global Market Intelligence
We may be stuck in road traffic for an hour, but ships can be waiting for many hours to enter a port, generating emissions all the while. In this episode, Turloch Mooney, Product Management Associate Director at S&P Global Market Intelligence discusses what the shipping industry is doing to manage these wait times and get closer to their emissions targets and save money in the process. Speakers: Turloch Mooney - Product Management Associate Director, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Kristen Hallam - Lead Content Strategist, Global Intelligence & Analytics, S&P Global Market Intelligence
Roughly 18 months ago, Russia invaded Ukraine, sending shock waves through financial and commodities markets. Since then, we've seen rounds of sanctions from the US and EU, an expansion of NATO, and an attempted mutiny in Russia. Still, the war grinds on. In this episode, we discuss the outlook for the Russia-Ukraine conflict with Alex Kokcharov, S&P Global Market Intelligence's Principal Country Risk Research Analyst. How long is the conflict likely to last? What risk factors could influence its trajectory? Speakers: Alex Kokcharov - Principal Country Risk Research Analyst, Europe and CIS, S&P Global Market Intelligence Kristen Hallam - Lead Content Strategist, Global Intelligence & Analytics, S&P Global Market Intelligence
The EU's 11th package of sanctions targeted against Russian trade is to close loopholes and tackle the circumvention of trade through re-exports of goods via third party countries to Russia and also to tackle the illicit transfer of oil via ship-to-ship transfers in EU waters. Byron McKinney, S&P Global Market Intelligence's Product Management Director discusses the shipping segment within the transport section of the document. Listen to the on-demand webinar in full: https://www.spglobal.com/marketintelligence/en/events/webinars/the-european-unions-11th-package-on-the-circumvention-of-sanctions-and-vessel-ship-to-ship-transfers-risks-and-challenges-for-tr Speaker: Byron McKinney - Product Management Director, Maritime, Trade & Supply Chain, S&P Global Market Intelligence
How close are supply chains to normality? Which industrial policies provide the biggest risks? What strategies should firms be pursuing in the face of perpetual upheaval? Can technology investments help build resilience? Our experts explore these questions and share their outlook for the remainder of 2023 and beyond. Speakers: Chris Rogers Head of Supply Chain Research, S&P Global Market Intelligence Agnieszka Maciejewska Economics Manager, GTAS Forecasting, S&P Global Market Intelligence Mark Fontecchio Research Analyst - IoT, 451 Research, S&P Global Market Intelligence
The global supply chain landscape is returning to "normal" conditions in the second quarter of 2023, with supplier delivery times improving and shipping rates at their lowest since September 2020. However, the second half of the year presents challenges, including the direction of corporate sourcing strategies, political tensions, and the implementation of the EU's Carbon Border Adjustment Mechanism (CBAM). Is global trade doomed for a decline or set for recovery? Can corporate decision-makers hope for a new-normal in supply chain operations? Deglobalization or a new era of trade expansion? Our experts discuss the outlook for the rest of 2023 and beyond. The full article explores key trends and challenges for the global supply chain landscape in the coming months: https://www.spglobal.com/marketintelligence/en/news-insights/blog/global-supply-chains-what-to-watch-in-q2-23 Speakers: Chris Rogers Head of Supply Chain Research, S&P Global Market Intelligence Agnieszka Maciejewska Economics Manager, Trade Forecast, S&P Global Market Intelligence
Russia has repeatedly stated that it will not work with the G7 oil price cap for crude oil that took effect in December 2022, or with the subsequent price cap on refined products that became effective in February 2023. If Russia insists on not conforming to the price cap, it can't use services located in G7 countries due to sanctions controls. This scenario gives rise to the need for a substantial shadow or ghost fleet of vessels able to transport Russian oil as close to capacity as possible while potentially evading G7 sanctions and the crude and refined oil price caps. Listen and learn about the size of the shadow fleet, hot spots for ship-to-ship transfers of cargo, and why financial institutions should be concerned about ghost ships from our expert. Download our white paper on Russia's shadow fleet here: https://www.spglobal.com/marketintelligence/en/mi/Info/0323/russia-shadow-fleet.html, and read more about vessel ownership here: https://www.spglobal.com/marketintelligence/en/mi/research-analysis/vessel-ownership-trade-finance-and-regulatory-compliance.html. Speakers: Byron McKinney - Product Management Director, Global Risk & Maritime, S&P Global Market Intelligence Kristen Hallam - Lead Content Strategist, Global Intelligence & Analytics, S&P Global Market Intelligence
Russia is the most sanctioned country in the world, with many thousands of individuals, entities and traded goods placed under controlled measures by the U.S., Europe and their allies. In this episode, we discuss how successful these sanctions have been over the past year and their impact on the Russian economy and its ability to continue the conflict in Ukraine. The experts also talk about: Russia's new trading partnerships, new outlets for oil cargoes and the methods used to evade maritime sanctions The continued import of critical military technology and software to sustain the conflict The use of transhipment via third countries to maintain illicit trade Speakers: Byron McKinney - Product Management Director, Global Intelligence & Analytics, S&P Global Market Intelligence Agnieszka Maciejewska - Economics Manager, Trade Forecast, S&P Global Market Intelligence Fotios Katsoulas - Liquid Bulk Principal Analyst, S&P Global Commodity Insights
Trade between the U.S. and China reached a record in 2022 with imports and exports between the countries exceeding $690 billion. What are the forces shaping the economic relations between the two countries and what can we expect on U.S.-China trade going forward? Speakers: John Raines - Principal Global Risks Adviser, Head of North America Risk and Director, S&P Global Market Intelligence Todd Lee - Chief China Economist, S&P Global Market Intelligence
In June 2022, the U.S. Government Accountability Office (GAO) provided multiple recommendations to U.S. universities with assistance from the U.S. Department of Commerce and Homeland Security, referencing the proposed dangers of conducting research using foreign controlled goods and sensitive information. The aim of this public notice was to help universities strengthen their export control compliance procedures, and in-turn mitigate the risk of illicit export and import activity. Two of the key issues raised were the efforts required to enforce export control regulations, particularly for deemed exports at universities, and the extent to which the U.S. agencies shared information relevant to export control. In this episode, Ravi Amin and Dr Ian J Stewart review the recommendations made by the U.S. GAO and discuss in detail the complexities of trying to identify potential dual-use, military and sanctioned goods that are controlled under the U.S. Commerce Control List and U.S. Munitions List. Speakers: Ravi Amin - SME Trade Compliance Specialist, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Dr Ian J Stewart - Executive Director, James Martin Center for Non-proliferation Studies
The implementation of a price cap covering Russian-origin crude oil on 5th December has raised a variety of questions regarding its implications; How it will affect trading Will India and China's appetite for Russian crude continue What it means to overall vessel risk in regards to compliance Could we see an increase in suspicious Russian shipping activity similar to Iran and Venezuela's sanctions evasion tactics In this episode, S&P Global Market Intelligence experts discussed what the oil price cap means for your business and an understanding of the likely scenarios we will see in the coming months as a result of the U.S. and EU action in this space. **This episode of the podcast is an excerpt from a webinar. Click here to register and listen to the on-demand webinar. Speakers: Byron McKinney - Product Management Director, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Lilit Gevorgyan - Associate Director – Russia and CIS, Research Advisory Specialty Solutions, S&P Global Market Intelligence Fotios Katsoulas - Liquid Bulk Principal Analyst, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Robert Perkins - Journalist and Editor, S&P Global Commodity Insights
In this episode, Dr. Jakub M. Kwiatkowski, a senior economist within the Global Trade Analytics Suite (GTAS) Forecasting team of S&P Global Market Intelligence talks about the trends in trade shaped by current geopolitical changes and anticipated shifts in trade following international policies and agreements, including: Historical quarterly perspective and evaluate the factors that are currently shaping trade like conflicts, trade sanctions and energetic policy Trade forecast in GTAS for Q3 2022 Trade projections which include shifts in trade caused by Russia-Ukraine conflict, sanctions put on Russia, increasing inflation prices, unstable supply chains, current sanctions put on Taiwan by mainland China and changes caused by new energetic policies with consideration of different affect on various modes of transportation Using GTAS trade predictions, Jakub analyzed the rearrangements in European trade and alternative energy sources for countries after the sanctions implementation on imports from Russia, and discuss the anticipated global trend and the alignment of trade movement with macroeconomic forecasts. **This episode of the podcast is an excerpt from a webinar. Register and listen to the on-demand webinar here: https://ihsmarkit.com/events/trade-outlook-response-to-geopolitical-events/overview.html Speaker Dr. Jakub M. Kwiatkowski - Senior Economist, Global Trade Forecasting, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Jakub is a senior economist within the GTAS Forecasting team, where he contributes to quarterly forecasts of international trade. He specializes in international trade, blue growth and gravity models. He graduated from University of Gdańsk (Ph.D. in economics and finance) and Kiel Institute for the World Economy (Advanced Studies Programe). Jakub's work experience includes both corporate and academic background. Recently, he also works as a researcher at the Economic Faculty at University of Gdańsk. Jakub participated in several research projects founded by the Polish National Science Centre as well as consulting and advisory projects for various government agencies and local authorities. His works concerning international trade, technological progress and corporate finance were published in world leading journals, such as 'Marine Policy'.
The global shipping and maritime industry is facing a myriad of challenges and there is ever greater importance to have a sense of clarity on the role of the insurance market. With a rapidly changing market facing new and emerging risks, our expert panel from AXA XL, Swiss Re Corporate Solutions, Allianz Global Corporate & Specialty (AGCS) and S&P Global Market Intelligence address the challenges and discuss practical guides for the insurance market, covering the topics: - Three forces to watch in global maritime: AIS tracking, Russia-Ukraine conflict, congestion issues on ports - Risk & Insurance: How has the risk profile for typical ship operations changed and how is the marine insurance sector responding? - Data Analytics: Running a tight ship through Data and Analytics - How can we continue to unlock value? - ESG: Outlook for the Regulatory Environment and promoting ESG stewardship through the maritime value chain As the global economy continues to grapple with pandemic impacts, supply chain, disruptive technology and climate related risks, the degree to these factors will continue to affect marine insurance and will not abate anytime soon amid setting sail into geopolitical and economic headwinds. **This episode of the podcast is an excerpt from a webinar. Listen to the on-demand webinar: https://ihsmarkit.com/events/navigating-maritime-risks-in-a-sea-of-new-and-emerging-risks-an-insurers-perspective/overview.html Speakers: - Patrizia Kern: Marine Head, Swiss Re Corporate Solutions - Capt. Rahul Khanna: Global Head of Marine Risk Consulting, Allianz Global Corporate & Specialty (AGCS) - Jarek Klimczak: Senior Risk Account Consultant - Marine Risk Management Americas, AXA XL - George Devereese: Risk & Compliance Product Management Director, Maritime, Trade & Supply Chain, S&P Global Market Intelligence - Raphael Zindi: Product Manager - Global Insurance Solutions, S&P Global Market Intelligence
Download the whitepaper: https://ihsmarkit.com/Info/0722/impact-russia-invasion-ukraine-trade-finance-compliance-perspective-ii.html As the Russian war effort directed against Ukraine continues, the latest round of sanctions forces shippers, cargo operators, corporates, banks and insurers to reevaluate their compliance programs to align with global regulation. In this episode, Ravi Amin, S&P Global Market Intelligence's Trade Compliance Subject Matter Experts and the author of the August update whitepaper 'The Impact of Russia's Invasion of Ukraine - A Trade Finance Compliance Perspective II', provides further analysis on the most recent coverage in a podcast, including: - Vessel activity in high-risk areas, including illicit shipping practices - Suspected theft of Ukrainian grain by Russian and Syrian bulk carriers - Russian oil movements - Russian supply chain activity and trends - Dual-use goods and commodities of concern Key Takeaways - As of 25 July, there are 414 vessels in the Crimea Joint War Committee (JWC) high-risk zone, an increase from the 373 vessels seen on 11 April - Of the 414 vessels, 109 vessels have been ‘dark' for 7 days or more - From March to June there has been an increase of over 2,000 vessels going dark globally, with the associated average dark time decreasing. During the same time period, there was an approximately 25% increase in vessels engaging in a potential port call whilst dark - Multiple Russian and Syrian bulkers have been dark in areas close to Kerch and Sevastopol in Crimea, after being identified by the U.S. and Ukrainian governments as vessels illicitly carrying stolen grain to Turkey, Syria and parts of Africa - As of 25 July, there are 100 tankers that have loaded crude oil from Russian ports with 77.5M barrels of oil on the water. This is an increase from the previously reported 94 vessels loaded with 75.4M barrels of oil on 10 May - Although India and China remain key importers of Russian oil, the remaining countries making up the top five importers are Italy, Turkey and Netherlands - In the last 3 months, Italy has been the third largest importer of Russian oil behind China and India, receiving on average 700,000 barrels a day - As of 25 July, 22 bulker vessels registered to Greece are in transit from Russia to China, India, Italy, Turkey and Netherlands. In the last 5 months there has been a 150% increase in the number of Greek, Maltese and Cypriot vessel operators carrying Russian oil - Customs data for trade with Russia in May 2022, shows that China remains a key trading partner. There has been an increase in the value of goods traded month on month for the previous two quarters. Mineral Fuels and oils (HS Chapter 27) accounted for over 77% of total value of traded goods in May 2022. There were large notable increases in the month-to-month changes in value of goods being exported from Russia to Switzerland, Ivory Coast, Panama, South Africa and Argentina - The U.S. Bureau of Industry and Security (BIS) and Financial Crime Enforcement Network (FinCEN) released a joint advisory on 28 June, reiterating the need for vigilance in regard to the shipment of certain ‘commodities of concern'. Many of the commodities listed in the BIS and FinCEN document are being exported directly to Russia from countries such as China, India, Turkey, Vietnam, South Korea and Japan Listen to the first update in May: https://soundcloud.com/maritimeandtrade-talk/ep6-the-impact-of-russias-invasion-of-ukraine-a-trade-finance-compliance-perspective Speakers: Ravi Amin - Trade Compliance Subject Matter Expert, Maritime, Trade & Supply Chain, S&P Global Market Intelligence Girish Hanumegowda - Trade Compliance Regional Subject Matter Expert, Maritime, Trade & Supply Chain, S&P Global Market Intelligence
The launch of the second comparable index of global container port performance. In this episode, joint members of the World Bank Group and S&P Global Market Intelligence team who had created the index discuss the scope, underlying data, and methodology, as well as its purpose and uses of the second Container Port Performance Index (CPPI). Download the CPPI 2021 report: https://ihsmarkit.com/Info/0522/cppi2021report.html *This episode is an excerpt from a webinar. Listen to the on-demand webinar here: https://ihsmarkit.com/events/the-container-port-performance-index-2021/overview.html The year 2021 highlighted in the starkest of terms the pivotal role port performance plays in the timely supply of goods to countries and their populations. The severe impacts of the COVID-19 pandemic on global container port operations showed in no uncertain terms the very tangible repercussions of inefficient ports on their hinterlands and populations. In the short-term this can be in the form of shortages of essential goods and higher prices; in the medium to longer term, inefficient ports can result in inflation, slower economic growth, less employment, and reduced financial performance of importers and exporters. Developed by the World Bank Group and S&P Global Market Intelligence, the Container Port Performance Index (CPPI) is a comparable index of global container port performance. The index is intended to serve as a reference point for key stakeholders in the global economy, including national governments, port authorities, development agencies and private organizations engaged in trade, logistics and supply chain services. As that reference point, the CPPI is intended to identify gaps and opportunities for improvement in container port operations, and to stimulate a dialogue among key stakeholders and move this essential agenda forward. Speakers: Richard Martin Humphreys - Lead Transport Economist, World Bank Group Andy Lane - Partner, CTI Consultancy Grace Ashley - ET Consultant in Transport Global Practice Turloch Mooney - Product Management Associate Director, Maritime & Trade and Supply Chain, S&P Global Market Intelligence Guy Sear - Vice President/Managing Director and Global Head of Risk and Compliance, Maritime, Trade & Supply Chain, S&P Global
With concrete action awaiting to lay out the path to decarbonize maritime emissions, Patrick Verhoeven, managing director of the International Association of Ports and Harbors (IAPH), and Jutta Paulus, member of the European Parliament and rapporteur for the revision of the EU emissions reporting regulation, discussed setting out rules and mutual expectations. MEPC 78 takes place at the beginning of June and this discussion will continue. Speakers: Jutta Paulus - Member of the European Parliament Patrick Verhoeven - Managing Director, International Association of Ports and Harbors (IAPH) Ines Nastali - Senior Custom Publishing Editor, S&P Global Market Intelligence Jutta Paulus has been a German member of the European Parliament for the Greens/European Free Alliance since July 2019. Before, she worked in quality management and controlling in laboratories and hospitals. Paulus holds a bachelor of pharmacy from the Philipps-Unversität of Marburg, Germany. Patrick Verhoeven is the managing director of the International Association of Ports and Harbors (IAPH), responsible for policy and strategy. The organisation represents about 170 ports and some 140 port-related businesses in 90 countries worldwide. Prior to joining IAPH in 2017, Patrick spent twenty-four years in Brussels representing the interests of shipowners, port authorities, terminal operators and ship agents at EU level. He started his career in 1991 with the Antwerp-based ship agent Grisar & Velge. Patrick holds a PhD in applied economics and a bachelor's in law from the University of Antwerp. Ines Nastali joined IHS Markit (now S&P Global) at the London headquarters in September 2018 as the editor of Dredging and Ports Construction magazine before taking over as editor of Ports & Harbors, the membership publication of the International Association of Ports and Harbors. She is responsible for the delivery of a bi-monthly magazine, always on the lookout for the latest market trends in order to keep readers informed, as well as the supplement production for all maritime publications. Making use of her experience in multi-media and data-driven storytelling, her focus for the company's maritime publications portfolio has been to establish the utilisation of S&P Global Market Intelligence's rich dredging, port and maritime data and to translate those datasets into interactive and print visualisations to give an insight into fleet data, port infrastructure developments and shipbuilding trends as well as casualty incidents. She holds a Bachelor of Arts in technical journalism from the Hochschule Bremen, Germany, and a Master of Arts in science journalism from London's City University.
Download the whitepaper: https://ihsmarkit.com/Info/0522/impact-russia-invasion-ukraine-trade-finance-compliance-perspective.html In response to Russia's invasion of Ukraine, governments and regulators have enforced stringent sanctions in key strategic industries. Countries have periodically announced new restrictions on various Russian individuals, entities, and industries; and it is likely that this will continue as the conflict is prolonged. In this episode, Ravi Amin and Jeremy Domballe dive deeper into our latest whitepaper; The Impact of Russia's Invasion of Ukraine - A Trade Finance Compliance Perspective, which focuses on some of the key trade compliance risks financial institutions now face in the context of multiple sanctions on Russian entities including Russian owned vessels, export control regulations and the restricting of corporates from exporting and importing certain goods that may enhance key Russian industries including the energy, aviation, aerospace and technology sectors. Speakers: Ravi Amin - Trade Compliance Subject Matter Expert, Maritime & Trade and Supply Chain, S&P Global Market Intelligence Jeremy Domballe - Subject Matter Expert, Maritime & Trade and Supply Chain, S&P Global Market Intelligence Ravi Amin joined IHS Markit (now S&P Global) in February 2020 as a Trade Compliance Specialist, to provide valuable insight to customers helping them to reduce global supply chain risk, and provide transparency in the Maritime and Trade sector through incorporating in-depth risk and compliance procedures. Mr. Amin has five years' worth of industry experience and considerable knowledge in the Trade Finance sector having previously worked at Accuity as the Trade Compliance Product Manager for four years, where he was pivotal in the innovation and building of risk monitoring products fit for multiple industries, including the Financial and Transport industries. Mr Amin's has expert knowledge in the European and American Dual-Use and Military Goods Regulation, as well sanctions and regulatory compliance, and has used this knowledge to help design the best in class tools to manage risk. Prior to starting a career in Risk and Compliance, Mr. Amin worked at Ipreo for five years in Corporate Advisory Services, helping to provide shareholder surveillance, investor targeting, capital flows insights and investor perception to clients allowing them to understand more about their shareholder base. He holds a Bachelor's of Science Degree in Economics from City University, London. Jeremy Domballe specialises in data assets and solutions within the Maritime & Trade and Supply Chain division. He partners with executives and businesses of all sizes around the world to identify growth opportunities, reduce global supply chain risk, assess markets, as well as assisting in providing transparency in the maritime domain awareness space, including areas such as shipping compliance and risk. Mr Domballe also collaborates with many of our industry experts to develop compelling insights, conducting research, analysis and finding new innovative ways to portray, interpret and mesh different data together. Mr Domballe has five years of experience in the industry with a history of client support. He holds a BSc in Environmental Hazards & Disaster Management, graduating from Kingston University, London and is fluent in French.
Following IMO Maritime Safety Committee (MSC 104) in October 2021, consideration was given to IAPH's submission outlining the recently finalised version of the Cybersecurity Guidelines for Ports and Port Facilities and calling for its inclusion in the next version of the IMO Guidelines on Maritime Cyber Risk Management. Its chair, Mayte Medina (United States), proposed a request to the secretariat to update the IMO guidelines, subject to agreement at the next meeting of the Facilitation Committee (FAL 46) that is due to take place in May 2022. Gene Seroka, the executive director of the Port of Los Angeles, and Patrick Verhoeven, managing director of the International Association of Ports and Harbors (IAPH), discussed the congestion issues the maritime industry faces, digitalization, and the way forward. Speakers: Gene Seroka - Executive Director, Port of Los Angeles Patrick Verhoeven - Managing Director, International Association of Ports and Harbors (IAPH) Ines Nastali - Senior Custom Publishing Editor, S&P Global Market Intelligence Gene Seroka is the executive director of the Port of Los Angeles, the busiest container port in North America. Throughout the pandemic, Seroka – who lived in China during the 2002-2004 SARS epidemic – has led the port's response to the global health crisis, keeping cargo flowing as an essential service to the nation. Seroka has distinguished himself as a leader throughout his 33-year career in shipping, global logistics and executive management. He holds an MBA and Bachelor of Science in Marketing from the University of New Orleans. Patrick Verhoeven is the managing director of the International Association of Ports and Harbors (IAPH), responsible for policy and strategy. The organisation represents about 170 ports and some 140 port-related businesses in 90 countries worldwide. Prior to joining IAPH in 2017, Patrick spent twenty-four years in Brussels representing the interests of shipowners, port authorities, terminal operators and ship agents at EU level. He started his career in 1991 with the Antwerp-based ship agent Grisar & Velge. Patrick holds a PhD in applied economics and a bachelor's in law from the University of Antwerp. Ines Nastali joined IHS Markit (now S&P Global) at the London headquarters in September 2018 as the editor of Dredging and Ports Construction magazine before taking over as editor of Ports & Harbors, the membership publication of the International Association of Ports and Harbors. She is responsible for the delivery of a bi-monthly magazine, always on the lookout for the latest market trends in order to keep readers informed, as well as the supplement production for all maritime publications. Making use of her experience in multi-media and data-driven storytelling, her focus for the company's maritime publications portfolio has been to establish the utilisation of IHS Markit's rich dredging, port and maritime data and to translate those datasets into interactive and print visualisations to give an insight into fleet data, port infrastructure developments and shipbuilding trends as well as casualty incidents. She holds a Bachelor of Arts in technical journalism from the Hochschule Bremen, Germany, and a Master of Arts in science journalism from London's City University.
In 2020, the International Association of Ports and Harbors (IAPH) surveyed its members looking at their compliance with the IMO Facilitation on International Maritime Traffic (FAL) Convention and found that only one-third of respondents met the requirements to have digital port community systems in place. This followed the International Maritime Organization (IMO) revelation in November 2020 that only 49 of the 174 IMO member states have working systems. Patrick Verhoeven, IAPH managing director, and Martin Humphreys of The World Bank discuss working together to advance digitalization and decarbonization in ports and give developing countries a fair business opportunity. Speakers: Martin Humphreys - Lead Transport Economist, South Asia Unit of the Transport Global Practice, The World Bank Patrick Verhoeven - Managing Director, International Association of Ports and Harbors (IAPH) Ines Nastali - Senior Custom Publishing Editor, S&P Global Market Intelligence Martin Humphreys is a lead transport economist in the South Asia Unit of the Transport Global Practice of the World Bank. He has been working in the transport sector for nearly 30 years in a number of different countries/regions. His experience covers roads, railways, inland waterways and maritime ports, public private partnerships, and trade and transport facilitation, in post-conflict, fragile, and low- and middle-income countries. Martin has a first degree in Economics, and a Master's Degree and PhD in Transport Economics. Patrick Verhoeven is the managing director of the International Association of Ports and Harbors (IAPH), responsible for policy and strategy. The organisation represents about 170 ports and some 140 port-related businesses in 90 countries worldwide. Prior to joining IAPH in 2017, Patrick spent twenty-four years in Brussels representing the interests of shipowners, port authorities, terminal operators and ship agents at EU level. He started his career in 1991 with the Antwerp-based ship agent Grisar & Velge. Patrick holds a PhD in applied economics and a bachelor's in law from the University of Antwerp. Ines Nastali joined IHS Markit (now S&P Global) at the London headquarters in September 2018 as the editor of Dredging and Ports Construction magazine before taking over as editor of Ports & Harbors, the membership publication of the International Association of Ports and Harbors. She is responsible for the delivery of a bi-monthly magazine, always on the lookout for the latest market trends in order to keep readers informed, as well as the supplement production for all maritime publications. Making use of her experience in multi-media and data-driven storytelling, her focus for the company's maritime publications portfolio has been to establish the utilisation of IHS Markit's rich dredging, port and maritime data and to translate those datasets into interactive and print visualisations to give an insight into fleet data, port infrastructure developments and shipbuilding trends as well as casualty incidents. She holds a Bachelor of Arts in technical journalism from the Hochschule Bremen, Germany, and a Master of Arts in science journalism from London's City University.
Office of Foreign Assets Control's (OFAC) advisory on ‘Guidance to Address Illicit Shipping and Sanctions Evasion Practices' of 2020 outlined a number of recommendations for financial institutions to manage shipping risk. The guidance relating to ‘dark' activity and ship-to-ship transfers have been challenging to implement within existing trade finance compliance screening programmes. ACSS, IIBLP and IHS Markit interviewed a number of banks and others to look at the actions taken by financial institutions in response to the OFAC advisory notice and offer a series of practical recommendations to best manage the new world of shipping risk. Download the whitepaper: https://cdn.ihsmarkit.com/www/prot/pdf/0222/Sanctions-advisories-for-the-maritime-industry_Feb2022.pdf This paper will offer an overview of the shipping industry and how it relates directly to financial institutions in light of the Office of Foreign Assets Control (OFAC) and Office of Financial Sanctions Implementation (OFSI) advisories. We will cover the key aspects of Automatic Identification System (AIS) and discuss the main elements and steps in a typical ship-to-ship (STS) operation. A Working Group has been convened of trade finance experts in the banking, shipping and regulatory industries in order to answer and clarify the following points for compliance officers in financial institutions: 1. An understanding of AIS 2. How can data transmitted by AIS be manipulated 3. What are the items of information broadcast This paper recommends the following as major factors for discussion and consideration: 1. AIS outages and STS operations should be examined in closer detail if they occur for lengthy time periods of 10 hours or more. This would be a calculated average time taken to potentially conduct a port call or an at-sea cargo transfer. AIS outages below the 10-hour cut-off would potentially be insignificant from a risk and compliance perspective with the caveat that some DPRK ship-to-ship operations for petroleum products have been conducted in slightly less time 2. AIS outages are only important if the vessel could engage with another vessel of the same type or perform a port call in the time it was ‘dark'. If this is not possible then a potential red flag becomes downgraded Speakers: Saskia Rietbroek - CSS, Executive Director at Association of Certified Sanctions Specialists (ACSS) Michael Byrne - CEO at International Institute of Banking Law & Practice (IIBLP) Byron McKinney - Director, Product Management at IHS Markit
What is AIS, what it's designed to do, how does it work? The Basics of AIS Part I and Part II intends to assist users new to AIS to make informed decisions on the consumption and interpretation of AIS data. Download AIS Fundamentals: https://cdn.ihsmarkit.com/www/prot/pdf/0222/840090525_0222_MT_MAT_AIS-Fundamentals_Brochure_Final_LowRes.pdf Listen to Part I: https://soundcloud.com/maritimeandtrade-talk/ep1-part-1-the-basics-of-ais Speakers: George Devereese - Director, Maritime Risk & Compliance Product Manager at IHS Markit Richard Hurley - Senior Maritime Data Analyst at IHS Markit
What is AIS, what it's designed to do, how does it work? The Basics of AIS Part I and Part II intends to assist users new to AIS to make informed decisions on the consumption and interpretation of AIS data. Download AIS Fundamentals: https://cdn.ihsmarkit.com/www/prot/pdf/0222/840090525_0222_MT_MAT_AIS-Fundamentals_Brochure_Final_LowRes.pdf Listen to Part II: https://soundcloud.com/maritimeandtrade-talk/ep2-part-2-the-basics-of-ais Speakers: George Devereese - Director, Maritime Risk & Compliance Product Manager at IHS Markit Richard Hurley - Senior Maritime Data Analyst at IHS Markit