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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Maritime Needs More Women Power

United Nations  International Maritime Organization (IMO) Secretary- General Ki Tack Lim pushed for the increased involvement of women in the seafaring industry

Contracts

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Legal

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Traffic Separation Schemes off Western Australia

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish

Berthing Policy for Dry Bulk Cargo for Indian Ports Unveiled

Ministry of Shipping has formulated a new Berthing Policy for Dry Bulk Cargo for all Major Ports which will come into effect from 20th August, 2016. The objective

Ports

More PPPs Needed to Enhance Dubai Maritime

The Marine Advisory Council has met to discuss the best ways to continue leading the march to excellence pursued by the Dubai Maritime Authority in upgrading the

210 Ships Pass Through Suez Canal Last Week

Suez Canal traffic data revealed that 210 ships transited the canal, with a total load of 12.8m tonnes, from 19 to 23 June.   An average of 42 ships transited the canal per day during that period,

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

Software Solutions

DNV GL's Sesam GeniE Reduces Engineering Costs

When warping analysis is required during design of certain types of beam offshore structures, it can involve many costly hours of manual calculations by senior engineers.

Simrad Tech for Sydney Fast Ferries

Four new fast ferries, owned and managed by Manly Ferries and operating in the busy waters of Sydney Harbour, will use Simrad technology for safe navigation. The

Demand for Helm CONNECT Software Soars ahead of Subchapter M

Helm Operations  signed on more than 50 commercial maritime companies to its  maritime software, Helm CONNECT, many of whom are trying to prepare for the publication of Subchapter M.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1330 sec (8 req/sec)