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Baltic Exchange Launches KYC Platform With Moody's
The Baltic Exchange has partnered with credit agency Moody's to launch a know-your-customer platform for the maritime industry.
The new platform will be available both to members of the exchange and non-members, paid for by the purchase of credits, the Baltic Exchange said in an emailed statement.
The launch of the platform follows a multi-year development project.
The platform uses the Moody's Orbis for Compliance database, which covers more than 445 million entities in and outside the shipping industry, as well as its Global Regulatory Information Database that provides more than 12 million records on known or suspected corrupt private and public sector figures, fraudsters, illicit financiers, money launderers and others.
"Due diligence has become an increasingly important aspect for all players in the shipping industry as they look to ensure they are aware of operational risks to their core business and drive compliance standards and practices," Mark Jackson, CEO of the Baltic Exchange, said in the statement.
"With vessels carrying high-value cargoes and operating across international borders, we have responded to the needs of our members to develop a KYC platform to provide critical risk data to all, including small and medium-sized companies."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 590.00 | 4.00 | 672.50 | 20.00 |
| Rotterdam | 524.00 | 5.50 | 669.50 | 8.00 |
| Houston | 530.50 | 7.00 | 659.00 | 9.00 |
| Fujairah | 581.50 | 12.00 | 758.50 | 6.00 |
| Global 20 Ports Average | 595.50 | 4.50 | 755.50 | 9.00 |
| Global 4 Ports Average | 556.50 | 7.00 | 690.00 | 11.00 |
| Global Average Bunker Price | 641.00 | 4.50 | 811.00 | 5.50 |
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