Insights | Rightship

RightShip's approach to the continuing situation between Russia and Ukraine | Rightship

Written by Alt | Mar 31, 2022 6:12:00 PM

We have seen responses within the maritime industry including:

 

February 
  • The UK and Northern Ireland government ordered its ports to block any vessels that are Russian-flagged or believed to be registered, owned, or controlled by any person connected with Russia.

March
  • Canada adopted the same approach by shutting ports to Russian owned ships. 
  • Lloyd’s Register confirmed it would disengage from the provision of all services to Russian owned, controlled, or managed assets or companies. 
  • The International Association of Classification Societies (IACS) council withdrew the Russian Maritime Register of Shipping’s membership. 
  • RightShip implemented expanded transparency for customers across Russian affiliated vessels. This included withdrawing vessel Safety Scores in our Platform.
  • The American Bureau of Shipping (ABS) withdrew all Class services involving Russian vessels, assets, and companies. 

 

The RightShip approach 

 

At RightShip, in addition to our ongoing monitoring of sanctions from various countries and organisations including the EU/UK/UN/OFAC/DFAT, and our reflection of bans and changes referenced above, additional Platform measures have been put in place.

These measures are a result of escalating risks associated with Russian affiliated vessels and our ability to accurately assess safety standards, crew welfare standards, and the maintenance of Class and Statutory certification.


Specific changes and expanded transparency to support customers 

The primary changes relate to our Safety Score and vetting. 

Safety Scores 

Since the 16 March 2022, all Russian linked vessels (Ownership, Class, Flag, Entity Associations) are set to Safety Score ‘N/A’.  
An associated banner is displayed for those affected vessels, as shown below: 
 

Cannot score this vessel because of the following: 

Elevated geopolitical risk 

A rule has been triggered for this vessel due to the Russia / Ukraine geopolitical situation. And specifically, an elevated risk of issues impacting safety performance, the welfare of its crew, and its ability to maintain valid Class and Statutory Certification. 

 

 

Vetting 

Due to the current geopolitical situation involving Russia and Ukraine, there are potential impacts on data transparency, and the safe and efficient operation of a vessel; we are unable to provide a validated Safety Score or conduct an accurate vetting assessment for Russian affiliated vessels at this time. 

In addition, if the load port or disport is Russian, we will not be able to complete the vessel recommendation without further confirmation from the Charterer. 

Specifically, in view of the elevated geopolitical risk in the Russian / Ukraine area, we recommend that customers seek internal legal advice on the implications of conducting such a voyage. 


Where can I find out more? 

There are several ways you can keep up to date, either through the RightShip Platform for our customers, or our website Knowledge Base (rightship.com) or here News (rightship.com). 
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