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A Masterclass in Compliance and Operational Efficiency

The bunkering industry is an integral part of maritime logistics, helping those in shipping to refuel vessels and keep shipping lanes moving. It’s a challenging job that requires those who work in bunkering to maintain stringent compliance. This helps to avoid issues like sanctions, Automatic Identification System (AIS) manipulation and the risk of a tarnished reputation.

At Lloyd’s List Intelligence, we have helped Bunker Holding - a prominent bunkering company - navigate these challenges by adjusting its processes. With our help, companies enjoy enhanced compliance and operational efficiency. In this case study, we will look at how we helped with our Bunker Holding case study - and how our solutions can help keep your business compliant and maximise growth.

Bunkering Industry Compliance: The Challenge

Like many other bunkering solutions companies, Bunker Holding faced several challenges beyond day-to-day work. Their main areas of concern included:

  • Increased due diligence checks.
  • Struggles keeping up to date with changes in regulations and sanctions.
  • Protecting the brand from reputational risks.
  • Finding a way to effectively and efficiently investigate risks.

We have noticed these challenges across a broad spectrum of bunkering companies throughout the industry. Our goal was to change the processes used to overcome the hurdles outlined above.

For example, protecting Bunker Holding’s brand against reputational risks was difficult. These risks stemmed from gaps in AIS data and other essential information. We wanted to find a more practical approach that could help investigate and resolve compliance issues. So, our team devised a series of solutions geared towards exactly that.

Bunkering Industry Compliance: The Solution

Data-Driven Analysis and Insight into Bunkering Industry Compliance

We identified that we could help Bunker Holding by providing more insight through data to mitigate against compliance risks. We provided sanctions data on vessels and entities to ensure they would comply with global regulations. This sanctions data stems from governments that have imposed sanctions on countries, groups or individuals to protect interests and support international law.

We felt that data-driven decision-making could also benefit Bunker Holding via AIS gap modelling detection. This data-driven modelling helps to identify abnormal ship behaviours, reducing the risk of maritime accidents like collisions. This intelligent process helps to identify and mitigate risks associated with:

  • AIS manipulation or spoofing is when a vessel attempts to transmit false positional data to mask their location deliberately.
  • Dark ship-to-ship transfers occur when one or more vessels attempt to turn off or change their onboard AIS.
  • Dark port callings happen when a vessel turns off AIS, emits decoy signals or attempts to transfer cargo in international waters.

This form of risk modelling can be a potent tool for risk mitigation, but only if it aligns with relevant data points. We decided to customise Bunker Holding’s risk models based on preferred time windows and risk appetite. This ultimately gave the company much more precise, actionable compliance assessments.

Finally, we handled a comprehensive ownership structure analysis for Bunker Holding. This covered seven levels of detail and alerts to any changes, which enhanced transparency and reliability in compliance checks.

The Implementation Process

Simple, Stress-Free Integration

Once we identified the areas where we could provide solutions, we devised the most effective way to implement the changes. We completed a seamless integration of our intelligence tools into Bunker Holding’s existing compliance framework, ensuring minimal downtime.

During implementation, we tailored the solutions for Bunker Holding’s specific needs and pain points. By tailoring the solutions, we perfectly address the needs of the client. This included fully customised risk models and alert systems. We also provided full support and training to ensure effective use of the tools. This hands-on support and training encouraged the successful adoption and quick uptake of these new tools within Bunker Holding’s compliance team.

The Results

Agile and Effective Investigations and Risk Mitigation

The bespoke solutions we provided to Bunker Holding brought about several noticeable changes. One of the key improvements was a much faster investigation pathway. We significantly reduced investigation timeframes from a few days to just 30 minutes, incorporating all the due diligence checks required for the investigation. This also helped save time and allowed Bunker Holding to respond with agility to potential risks.

Our work also improved how investigations were conducted, as they could happen independently. This removed the reliance on external clarifications found in the old processes, which helped with the overall efficiency of the investigations.

Finally, we improved risk mitigation by making identifying dark activities and AIS manipulation more accurate. This enhanced accuracy has helped to safeguard Bunker Holding from a damaged reputation and its standing in terms of compliance.

The overall success of the work carried out by our team at Lloyd’s List Intelligence shows precisely how we operate. By providing companies with bespoke, data-driven innovation, they have the power to control investigations and ensure compliance.

Wei Yen Yip, the Global Head of Compliance at Bunker Holding, praised our work and the resulting transformative changes. He said:

For dark activity, previously we would have to seek clarification from the customer and wait for a response. There was a lot of back and forth and often the answers could be incomplete. Now for most cases, we can investigate, obtain the full picture and resolve it ourselves. This makes a really big difference

Wei Yen Yip / Global Head of Compliance at Bunker Holding

Key Benefits

Enhancing Processes for Better Results and Bunkering Industry Compliance

  • Sanctions data on vessels and entities: Ensuring compliance with global regulations.
  • Advanced AIS gap modelling detection: Identifying and mitigating risks related to AIS manipulation.
  • Customisable risk models: Tailored to specific time windows and risk appetites for precise assessments.
  • Comprehensive ownership structure analysis: Providing transparency and detailed insights with seven ownership levels.
  • Significant reduction in investigation time: From 1 to 2 days to just 30 minutes, enabling rapid response to risks.
  • Enhanced self-reliance in investigations: Reducing back-and-forth communication and improving efficiency.

Improve Your Operations with Lloyd’s List Intelligence

Our work for Bunker Holding is a snippet of what we do for other businesses in the bunkering and maritime sectors. Whether you’re looking to improve your internal processes, focus on compliance or drive growth within your company, we can help.

Explore how Lloyd's List Intelligence can enhance compliance risk mitigation and business growth for you. Look at our full case study to learn more about our work or reach out to us for a consultation. With our help, your business can operate in a more agile, efficient and effective way.

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