Sea launches pre-fixture vessel compliance solution for shifting regulatory landscape

Copenhagen/London, 20 March 2024

Maritime software provider Sea has launched a new compliance solution to help customers navigate the ever-changing regulatory landscape for freight. Sea’s Vessel Compliance Management solution will enable customers to complete vessel screening as part of recaps conducted on Sea’s platform. This consolidated platform offering ensures governance, compliance, and the mitigation of risks in chartering processes.

A recent study by Sea of users on its platform found that, for customers who are impacted in their day-to-day work by sanctions, workflows are negatively impacted for almost half (49%).  Less than half (37%) feel fully confident in navigating sanctions.* With sanctions currently in place across several regions and entities, breaches pose serious financial and reputational risks to businesses.

The Vessel Compliance Management solution has been designed to help businesses navigate compliance complexities while streamlining processes and supporting decision-making. The solution integrates a company’s chosen sanction and compliance service into Sea’s Recap Manager, enabling efficient communication and workflows in one platform.

Sea’s aim is to help customers easily navigate and streamline changing regulations in chartering processes. Key features of the solution include:

• Automated screening – vessels can be automatically screened against various customisable parameters, including: vessel ownership, management, dark patterns, port state control and suspicious behaviour. This automation reduces manual efforts and provides time and efficiency savings.
• Real-time compliance monitoring – enables charterers to keep on top of rapidly changing compliance and sanctions regulations to make informed vessel decisions.
• Integrated, streamlined workflows – the seamless integration with a business’ chosen vessel sanction and compliance service ensures business objectives are met within one platform for faster, more efficient working.
• Enhanced due diligence – alongside the provision of reliable sanction and compliance integration, an audit trail is provided to evidence compliance through document management.

Peter Schroder, CEO at Sea, said of the new solution: “We’re proud to be adding another solution to our platform that will make chartering workflows more efficient and drive smarter decision-making for our customers. The regulatory landscape is constantly changing, and freight players need support to ensure they can navigate these regulations in the pre-fixture stage with minimal disruption. By integrating our customers’ chosen compliance providers onto the Sea platform, our Vessel Compliance Management solution ensures customers now have access to that support whenever they conduct recaps.”

About Sea

Sea delivers reliable, data-driven solutions that power better decisions to enable sustainable shipping across the entire vessel chartering workflow, from pre-fixture to at-fixture.

Born as a technology spin-off from the Clarksons Group, we now operate as an independent company and have grown to become the leading provider of commercial software for global maritime trade. Leveraging innovative software with strategic collaborations, and integrations with key partners across the maritime ecosystem, Sea is rapidly becoming the intelligent marketplace for fixing freight for all global shipping professionals.

With a people-first mentality, nine maritime software centres of excellence in key global shipping regions, and a 200+ strong team of shipping and digital experts, we are dedicated to delivering best-in-class technology and services to the global chartering market.

Through strong client engagement, we continue to develop innovative solutions that optimise processes, diminish complexity, mitigate risk, and deliver higher earnings and reduced costs. Our work enables better, more efficient, and more sustainable decisions that deliver a positive impact for clients.

For more information, please visit www.sea.live

Media Contacts

Sea Media Contact: Tinie Tarp, VP of Marketing & Communication | +45 2763 3545 | tinie.tarp@sea.live