Peninsula Tasks Windward With Improving Compliance Processes

by Ship & Bunker News Team
Tuesday August 8, 2023

Global marine fuel supplier and trading firm Peninsula has signed a deal with technology company Windward to improve its compliance processes.

Windward will apply AI-driven insights to improve Peninsula's screening and due diligence procedures, the company said in an emailed statement on Tuesday.

Compliance procedures in the bunker industry have become more complex in recent years, with the Western response to the war in Ukraine last year bringing in a wide range of new sanctions, as well as a wide range of illicit shipping activities to avoid them.

"As global regulations and sanctions become increasingly complex, it is essential for stakeholders to stay ahead of the curve so they can conduct more business with greater confidence," Ami Daniel, CEO of Windward, said in the statement.

"In line with this trend, we are seeing a growing number of companies across the industry turning to our Maritime AI to make better, faster, and more informed decisions, and help them mitigate risk effectively.

"With our Maritime AI solution, Peninsula's legal and risk teams will be able to bolster their existing compliance programs with unparalleled insights into vessel activity, ownership structures, and company risks in real-time, providing them a holistic and accurate view of maritime risk, and enabling them to navigate the turbulent trade environment with ease.

"This will enhance their day to day operations."

Ship & Bunker News Team
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