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ESG focused digital maritime platform RightShip, has today, launched a new screening solution designed to support cargo traders, financiers and insurers to make swift, accurate decisions about vessel clearance, based on bespoke risk policies.
A fully automated service, available 24-7, RightShip Screening gives an immediate pass or fail result on whether a vessel is suitable for a customer’s needs by measuring vessels against a combination of more than 50 rules, selected and controlled by each individual customer.
Screening is suitable for those with low marine risk exposure who require a short turnaround time and those with limited current due diligence solutions in place looking to take the next steps in implementing best marine risk management practices.
The baseline rules used in the process check thousands of data points for each vessel including criteria like incidents and Port State Control (PSC) investigations, when the vessel was last inspected by RightShip, any geopolitical risks or sanctions, and whether the vessel meets flag, class and regulatory compliance.
RightShip is backed up by historical data from 1.5 million PSC inspections, close to 200,000 incidents, around 40,000 RightShip inspections alongside many other data points.
RightShip currently provides ESG insights on over 50,000 vessels and the companies operating them. As one of the world’s leading ESG-focused digital maritime platforms, RightShip customers gain reassurance that the vessels they approve have been evaluated against global safety, sustainability, and social responsibility best practice standards.
Christopher Saunders, Chief Product Officer for RightShip, said: “At RightShip we have 21 years of due diligence experience, having completed close to 700,000 vettings for our customers. We are delighted to be bringing to market a new due diligence solution that builds off those years of experience. Our Screening service allows customers to leverage our large data sets enriched by the experience of our marine experts, including proprietary data such as that generated by our physical RightShip inspections.
“Our new Screening solution means that clients are supported to protect their businesses from risk. They can make quick, informed decisions about the vessels they want and need to use, in an operating environment that is in a constant state of flux.”
Christopher continued: “Screening is quick, easy to use and can be requested in three simple steps, or alternatively embedded in customer workflows via API. Screening outcomes are received immediately, allowing customers to focus on completing their transactions in trades where time matters. In cases where additional scrutiny is needed, customers can also access our team of marine experts by requesting a full vet for a more comprehensive due diligence outcome.”