The Quest for Shipping Transparency: New Alliance Formed

MarineLink.com
Wednesday, February 05, 2014
File image CCL

From Annapolis, Md. USA and Dubai, United Arab Emirates, TRACE International and DA-Desk FZ-LLC announce a partnership to create greater transparency in the shipping industry which they say will set the standard for global compliance due diligence and port cost management services.

The alliance enables port agents and suppliers registered with DA-Desk to receive preferential pricing for TRACEcertification and promote their commitment to compliance.

TRACEcertification is an internationally accepted due diligence review, analysis and approval process that allows entities to own their verified compliance information and share it with all global business partners.TRACE-certified companies are "pre-vetted" partners for multinational companies seeking to do business with shipping agents who share their commitment to compliance. DA-Desk recently was awarded TRACEcertification.

"The shipping industry is undergoing greater scrutiny," explains Alexandra Wrage, president of TRACE. "This alliance will encourage agents of DA-Desk's global business partners to undergo the TRACEcertification process, providing recognition for their commitment to increased transparency, anti-bribery training for all their employees, and visibility to multinational companies seeking potential new business partners."

"As an industry partner of TRACE, DA-Desk is working to help bring down the cost of compliance, making it easier for agents to afford the due diligence process," said Hans-Christian Mordhorst, Commercial Director, DA-Desk. "Additionally, TRACEcertified companies can promote their commitment to the highest standards of transparency in our database of over 10,000 agents and suppliers."

Companies across industries now accept TRACEcertification in lieu of their own due diligence procedure and have expressed support of the partnership between TRACE and DA-Desk.

"We are pleased to accept TRACEcertification in lieu of our own due diligence review process because it satisfies global due diligence requirements as well as our own standards and procedures," said Travis Winslow, Carnival Corporation's Senior Director for Ethics & Compliance. "The partnership between TRACE and DA-Desk is a major step forward in establishing a global standard for third party due diligence and bringing increased transparency to the shipping industry."

http://www.traceinternational.org

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

EUCAP Nestor Train 30 Somali Coast Guards

On 21 October, the European Union’s Maritime Capacity Building Mission in the Horn of Africa and Western Indian Ocean (EUCAP Nestor) celebrated the successful completion of a two month Mentoring,

Lerwick Port Awards £16.5 mi Expansion Contract

Lerwick Port Authority has awarded a construction contract for the latest expansion of the harbour’s facilities in a project costing a total of £16.5 million

Contracts

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

Legal

Yara Reports Strong 3Q Results

Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara

Bright Outlook for BWM Convention

The Danish Maritime Authority informed that the Ballast Water Management Convention is now one step closer to ratification following last week’s meeting of United

Court Dismisses Boating Industry’s Challenge to EPA Misfueling Rule

The National Marine Manufacturers Association (NMMA) said it is disappointed with the U.S. Court of Appeals decision released on Tuesday, October 21, 2014 for the D.

Ports

Lerwick Port Awards £16.5 mi Expansion Contract

Lerwick Port Authority has awarded a construction contract for the latest expansion of the harbour’s facilities in a project costing a total of £16.5 million

Colombian Professionals to be Trained in Antwerp

APEC, the training centre for the port of Antwerp, is to provide training for shipping professionals from the port of Santa Marta (Colombia) for the next four years.

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

Finance

Yara Reports Strong 3Q Results

Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara

Lerwick Port Awards £16.5 mi Expansion Contract

Lerwick Port Authority has awarded a construction contract for the latest expansion of the harbour’s facilities in a project costing a total of £16.5 million

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

Software Solutions

GOST Security System thwarts Break-in

GOST (Global Ocean Security Technologies), announced that its GOST Insight HD GPS Security System was instrumental in foiling the theft of electronics onboard a powerboat in Aventura, Florida.

Northrop Grumman Sponsors Maritime RobotX Challenge

Northrop Grumman Corporation is expanding its support for science, technology, engineering and math (STEM) education across the globe by sponsoring the Maritime RobotX Challenge in Singapore, Oct.

New Bahamas Northwest Chart Set Upgrade

nv charts announces the release of its newly updated chart set for Region 9.1, Bahamas Northwest, including Bimini and Berry Islands, Nassau to Abaco, and Grand Bahama,

Logistics

Colombian Professionals to be Trained in Antwerp

APEC, the training centre for the port of Antwerp, is to provide training for shipping professionals from the port of Santa Marta (Colombia) for the next four years.

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1760 sec (6 req/sec)