Monday, February 26, 2018

Ship Registry Upgrades Sanctions Compliance and Risk Management

Island Flag Adopts New Technology for its Fleet
Shipping News Feature

PALAU – The Palau International Ship Registry (PISR), which claims to be the world's fastest growing maritime flag, has linked with technology group Pole Star, to offer a comprehensive sanctions compliance and risk management service for its fleet vessels. The Pole Star Purple TRAC system offers high level monitoring of assets designed to protect both the vessel and crew during operations and is already used by shipping companies, ship financiers, insurers, port state agencies and other ship registries.

Pole Star’s Purple TRAC software enables a ship’s details to be entered into a web-based interface, the vessel and then screened against a range of international economic sanctions lists and Port State Control databases. This determines if the ship, its owners or managers are on any sanctions lists, whether it has had any deficiencies found by port authorities, and if it has recently called at a blacklisted port or sanctioned country. It can also actively track a ship’s physical movements on a continuous long-term or short- term voyage-based basis.

Although Palau is an archipelago of over 300 islands situated in the western Pacific Ocean, the registry is headquartered in Houston, Texas and has its European head office in Athens. Panos Kirnidis, CEO of PISR, believes the new smart datalink provides ship owners and managers with the most detailed information to maximise their operational performance, commenting:

“Over the past 12 months we have established Palau as the fastest growing ship registry in the industry and we are on course to make PISR the most technology driven one as well. We appreciate how important it is for our clients to be informed of their operational status and by offering them a tracking solution to optimise this, is a real bonus.

”Pole Star has developed innovative and reliable systems that will enable us to monitor and manage our clients’ assets worldwide. Along with our own unique Deficiency Prevention System (DPS) and our Smart Electronic Flag software, we can process vital information and give clients key performance indicators measuring the operational efficiency of their vessels.

“We have embraced new technology because we believe it is the only way the shipping industry will develop. Using Purple TRAC will give us an even sharper edge and peace of mind for our fleet clients. The age of paper certificates and records are coming to an end. There has been a reluctance on the part of some flags to fully adopt new systems but you only have to see how technology is driving transportation methods forward to appreciate it is here now and here to stay.

”Palau International Ship Registry will continue to work with companies that can offer us smarter ways of working. The age of the e-registry has arrived and PISR has been leading that charge for the past 12 months and we will continue to do so.”

Photo: Panos Kirnidis BEng, MSc – CEO of PISR, says he is keen to embrace new technology.