BP Shipping, the shipping unit of energy giant BP, has entered into a partnership with maritime trade analytics service provider Windward to accelerate the digitisation of its operations.
Under the partnership, Windward will deliver a broad set of behavioral analytics and insights, enabling BP shipping to digitise its business trade practices relating to sanctions compliance.
The companies believe the shipping industry and wider maritime ecosystem is going through a monumental shift to create efficiencies in global trade practices, driven by changes in global trade policy and the need to adopt next-generation digital practices.
“We have evaluated Windward for around 12 months and have gained a clear insight into what their capabilities and domain expertise can deliver across the due diligence and know your vessel process. It has been a process of true collaboration and partnership to provide a solution adapted to BP Shipping’s needs. The OFAC advisories published recently are a game-changer for the maritime and trade ecosystems regarding compliance requirements. Solutions that can increase both quality and efficiency in our sanctions compliance operations are essential across all related business transactions,” said Mark Fortnum, BP Shipping’s vice president of technical and vetting.