What is Know Your Vessel? 
This is a term used within the maritime industry to describe the process of obtaining information about a marine vessel’s compliance with international regulations. A significant risk is its presence on international sanctions lists. 
  
Sanctions lists designate a vessel with the highest level of risk. Blacklisted vessels are subject to restricted access to ports, services and financial transactions, and any entity that does business with these vessels risks financial loss and reputational damage. 
 
Now available on our KYC Platform 
Users of Baltic Exchange’s Know Your Customer (KYC) platform now also have access to our regularly updated Sanctioned Vessels List.  
 
In addition to Company Checks and Due Diligence scans on the companies and individuals related to the vessel, it is now possible to easily check on the same KYC Platform if the vessel itself is sanctioned using our combined list. 
 
The Sanctioned Vessels List encompasses data from the following sources: 

  • Office of Foreign Assets Control (OFAC), US 
  • Office of Financial Sanctions Implementation (OFSI), UK 
  • Global Affairs Canada, CA 
  • Council of the European Union, EU 
  • UN Security Council, UN 

By making the Sanctioned Vessels List readily available to our KYC users, Baltic Exchange is doing its part to help the industry stay informed of potential risks, make more informed decisions and meet increased regulatory obligations.    
 
If you would like further information, have any questions or would like to arrange a demonstration of the KYC Platform, please click here.

If you are also interested to learn more about the benefits of becoming a Baltic Exchange Member, please click here.