Windward Ltd on Tuesday announced a contract with Peninsula Petroleum, a supplier of marine energy.
Windward, a Tel Aviv, Israel-based maritime predictive intelligence company, said that its platform will enhance screening and due diligence procedures with AI-driven insights.
It added that this will enable Peninsula to conduct more business.
Citing the EU’s 11th package of sanctions against Russia’s war in Ukraine, Windward said: ‘For the first time, [a package of sanctions] allows ports to deny entry to vessels utilising deceptive shipping tactics to circumvent sanctions. As such, counterparty due diligence has become a necessity for any stakeholder in the maritime trade industry to ensure they are not conducting business with bad actors.’
Windward Chief Executive Officer Ami Daniel said: ‘As global regulations and sanctions become increasingly complex, it is essential for stakeholders to stay ahead of the curve so they can conduct business with greater confidence. In line with this trend, we are seeing a growing number of companies across the industry turning to our Maritime AI to make better, faster and more informed decisions, and help them mitigate risk effectively.’
Windward shares fell 2.0% to 49.00 pence each on Tuesday morning in London.
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