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

People & Company News

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Evergreen Enhances UK and Ireland Services

Global container carrier Evergreen Line announced enhancements to its services to/from Dublin (Ireland) and Liverpool (Northwest England). From its hub in Rotterdam,

SCI Publishes Shore Leave Survey

With Maritime Labor Convention (MLC), 2006 in force, one might expect to see a reduction in the number of seafarers without visas; yet, recent data collected by

Contracts

New Australian Navy Submarines to be Japan Built?

Australia should discuss building its next-generation fleet of submarines overseas, the Department of Defence said on Monday, a shift that could open the door to

Russian Navy Expansion Gathers Momentum

The Russian Navy celebrates its professional holiday by putting two new submarines into service and expects a new warship in the fall and several additional ships

Three Share in Navy US$96.8-M Twin-Ship Modernization Contract

The U.S. Department of Defense informs that AMSEC LLC; CDI Marine Co. LLC; and Q.E.D. Systems Inc., (all located in Virginia Beach, Virginia) are each being awarded a cost-plus-fixed-fee/cost-only,

Legal

Tanker with Iraqi Kurdish Oil Anchors off Texas Port

A tanker carrying crude oil from Iraqi Kurdistan was anchored near the Port of Galveston, Texas, and must undergo a routine safety inspection by the U.S. Coast

Panama's Alfonso Castillero Moves to Liberian Registry

The Liberian Registry informs that Alfonso Castillero, former Director-General of the Panama Registry, has joined their organization as Vice-President. Castillero

BV Group Launches Maritime Pilot Phase

Bureau Veritas Group Launched Maritime Pilot Phase for its Single Window for Foreign Trade in Togo. The ceremony took place in Lomé, under the patronage of the President of the Republic,

Ports

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

Location of New Port Expansion Projects: Analysis

When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure,

GAC North America Passes the Helm to Schensema

GAC says it  has moved Claus Schensema to Houston, Texas, where he will take up the post of Managing Director of GAC North America Logistics. Schensema brings

Finance

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

Software Solutions

ISS's Innovative Series of New Travel Apps for Cruise Industry

Inchcape Shipping Services (ISS) the world’s leading maritime services provider, has launched an innovative series of travel apps for the cruise industry in Greece,

HydroComp to Hold Propeller 'Mini-Workshop'

A special version of HydroComp's intensive Propeller Workshops will be brought to Tampa before the start of IBEX 2014.   The Mini-Workshop is a special version

Logistics

Evergreen Enhances UK and Ireland Services

Global container carrier Evergreen Line announced enhancements to its services to/from Dublin (Ireland) and Liverpool (Northwest England). From its hub in Rotterdam,

Private Buyers in Iran Look to Boost Grain Market

One sign of change in Iran as it works toward a nuclear deal with world powers is the way it is feeding itself, with private grain firms beginning a slow return

Location of New Port Expansion Projects: Analysis

When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.2726 sec (4 req/sec)