TIDMWNWD
Windward Ltd.
08 August 2023
8 August 2023
Windward Ltd.
("Windward", "the Company")
Contract Win with Peninsula Petroleum
Windward (LON: WNWD), the leading Maritime AI company, is
pleased to announce a contract with Peninsula Petroleum
("Peninsula"), the global leading independent supplier of marine
energy, to advance and automate Peninsula's compliance processes.
Windward's platform will enhance screening and due diligence
procedures with AI-driven insights, empowering Peninsula to conduct
more business, with confidence in an increasingly complex
regulatory landscape.
The ongoing Russia-Ukraine war has precipitated the introduction
of new regulations by the Western world. Most recently, the EU
Commission announced its 11 (th) package of sanctions which, for
the first time, 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. Embracing technology is one of
Peninsula's core pillars and in the world of bunker trading and
supply, when decisions need to be made within minutes, Windward
provides dynamic compliance feedback, which has a significant
impact on decision making processes.
Windward's Maritime AI insights will be integrated directly into
Peninsula's compliance processes via API, providing legal and risk
functions with a bottom line risk score and flagged risk indicators
for all vessels they are associated with. These valuable insights
enable users to make go/no-go decisions with fewer false positives,
allowing them to maximise efficiency and conduct more business.
Ami Daniel, Co-Founder and CEO of Windward, commented:
"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."
"With our Maritime AI solution, Peninsula's legal and risk teams
will be able to bolster their existing compliance programs with
unparalleled insights into vessel activity, ownership structures,
and company risks in real-time, providing them a holistic and
accurate view of maritime risk, and enabling them to navigate the
turbulent trade environment with ease. This will enhance their day
to day operations."
Alex Jamet, General Counsel of Peninsula, commented:
"Peninsula has always taken sanctions compliance very seriously,
although bunkering is currently "out of scope" of the 11th EU
sanctions package, our conservative approach to sanctions risk as
well as its own self-sanctioning led us on an extensive search for
the most effective technology enhancement to our existing
procedures. Windward stood out as the clear best in class solution
to provide us with a thorough and accurate view of maritime risk.
Their advanced technology, comprehensive data coverage, and robust
analytics capabilities empower our risk functions to make prudent,
accurate decisions to rapidly support our global commercial
teams."
Windward's Maritime AI platform is powered by advanced machine
learning and behavioural analytics models, providing customers with
insights into vessel behaviours, ownership structures, and company
risks, and predicting in real-time which companies and vessels are
likely to be high risk.
The Company's behavioural models and risk indicators are
constantly updated in line with new regulations and behavioural
patterns, ensuring that customers are always one step ahead.
Windward's solutions enable companies across the maritime trade
industry to streamline business operations.
For more information, please contact:
Windward Ltd. Via Alma PR
Irit Singer, CMO
Canaccord Genuity (Nominated Adviser
& Broker) +44(0)20 7523 8000
Simon Bridges / Andrew Potts
Alma PR +44(0)20 3405 0205
Caroline Forde / Kieran Breheny / Pippa
Crabtree
About Windward
Windward (LSE:WNWD), a publicly-traded company on the London
Stock Exchange, is a leading Maritime AI company, enabling
organisations to achieve business and operational readiness.
Windward's AI-powered solution allows stakeholders including banks,
commodity traders, insurers, and major energy and shipping
companies to make real-time, predictive intelligence-driven
decisions, providing a 360deg view of the maritime ecosystem and
its broader impact on safety, security, finance, and business. For
more information visit: https://windward.ai/.
About Peninsula
Peninsula is a global leader in the supply of marine fuels, with
an international nexus and operations in all major world ports.
They deliver marine energy solutions from an integrated supply
chain via a comprehensive global trading network.
Peninsula performs more than 25,000 deliveries per annum and is
a trusted partner to over 2,000 customers in every corner of the
globe. Their reputation for transparency, combined with a low risk
tolerance, has garnered support from a wide range of stakeholders
who collectively acknowledge Peninsula as a marine energy market
leader.
https://www.peninsula360.com/
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END
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(END) Dow Jones Newswires
August 08, 2023 02:00 ET (06:00 GMT)
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