S&P Global Buys Firm to Bolster Capability to Track Commodity Shipments
S&P Global Commodity Insights said on Monday it had acquired UK-based technology firm Tradenet and its live vessel-tracking platform Market Intelligence Network (MINT) to bolster its capability to track and analyze commodity shipments. Demand for ship-tracking data has grown in the commodities sector in recent years, leading to the creation of new data analytics businesses such as Kpler, Vortexa and Refinitiv that compete with S&P Global. "The acquisition adds powerful new capabilities to our cargo…
UANi Surveillance Points Up Swedish Iran Sanction-buster Tankship
United Against Nuclear Iran (UANI) has called on Sweden’s Stoc Holding AB to explain and cease its business to and from Iran with the tankship 'Persia'. According to UANI, Stoc Holding controls a vessel, called the "Persia," that appears to operate a dedicated route in support of Iran's petrochemical industry. Stoc Holding openly advertises its ties to sanctioned Iranian entities on the front page of its website. UANI recently launched its Maritime Intelligence Network and Rogue Vessel Analysis (MINERVA) system, to provide real-time tracking and course prediction for Iranian and Iran-related vessels. MINERVA’s unique capabilities allow UANI to monitor such vessels, and take relevant action to halt illegal Iran-sponsored shipping schemes.
NATO Commander: Water Security is the Weak Link
Maritime security is a weak link in the U.S.-led war on terror and extremists will one day exploit the shortcomings unless action is taken, the U.S Commander of NATO forces in southern Europe said. Admiral Johnson, who is also commander of U.S. naval forces in Europe, said in an interview that friendly nations needed to create an intelligence network to monitor the world’s main shipping lanes. Some 95 percent of the world’s commercial cargo moves by ship, with some 11 million containers travelling the seas every day, Adm. Johnson said. “There’s only a tiny, tiny portion of one percent of those containers that we know about before they reach our ports,” he said. “The volumes are such that over time any would-be terrorist is going to work this out.” (Reuters)
Keeping Vessel, Cargo & Crew Safe Through Preparation
The 2001 maritime crime statistics are now in, and, as expected, acts of piracy doubled. As predicted in a previous article, we have now seen the very publicized piracy and kidnapping off the coast of Somalia. The very public unconfirmed report of a U.S. $200,000 ransom has set the precedence for future piracy and kidnapping payoffs. While everyone is extremely happy that all 18 crewmembers returned home, it poses even more questions for the maritime industry. In the aftermath of September 11, many insurance companies have revised their policies concerning acts of terrorism. Do specific policies need to be addressed to cover actual crew kidnappings even if kidnapped during piracy?
