Transparency set to top London International Shipping Week agenda
Lloyd’s List kicks off London International Shipping Week with an expert exploration of transparency in shipping, from sanctions risk mitigation to the technology pitfalls of opening up data sharing
Insurance, legal, security and technology experts converge on London to discuss why transparency is potentially a double-edged sword for shipping stakeholders. For every digital advance that enhances efficiency and secures compliance, there are risks of liability and insurance risk
SHIPPING’s corporate veil is being pierced by ever more stringent financial and regulatory compliance requirements. Avoiding sanctions requires increasingly forensic due diligence across the supply chain to ensure security ‘red flags’ are not raised by international governments and agencies that now monitor every aspect of shipping’s trade links.
On the upside, a fully digitalised supply chain offers a variety of new opportunities but, on the downside, data standardisation and sharing brings with it potential problems surrounding data storage, ownership and transparency.
Transparency is potentially a double-edged sword for shipping stakeholders. For every digital advance that enhances efficiency and secures compliance, there are risks of liability and insurance risk.
On Monday September 9, Lloyd’s List will kick off London International Shipping Week with a timely discussion around the topic of transparency in shipping.
With the fate of both the Adrian Darya and the Stena Impero dominating the news agenda, the opening panel will focus on sanctions risk mitigation.
The panel of insurance, legal and security experts will explore how legitimate shipping businesses can avoid being caught up in the increasing forensic attentions of those wishing to sanction shipping’s opaque support network.
But they will also be looking at the opportunities.
“The same technologies that can identify bad actors and help reduce the ‘grey’ areas of shipping, can also help the shipping community collaborate and provide a certainty to insurers, owners, operators and regulators,” explains former US intelligence officer Cate Gwilliam, Chief Executive of Geollect.
The second panel session will look more generally at transparency in shipping via the enhanced digitisation push, data sharing and standardisation, but also at the requirements of banks and regulators requiring shipping to be more transparent.
As the panellist Professor Peter McBurney, Head of Technology Consulting at Norton Rose Fulbright explains it: “There’s a big challenge for shipping and a fundamental tension between the push for transparency from technologies like blockchain and the need for companies to protect confidential data”.
As ever with Lloyd’s List events there will be more opinion formers in the audience than on stage and given that this event kicks off the London International Shipping Week agenda the intention is that this will be the start of the debate. The Lloyd’s List team will be with you networking, discussing and debating during the breaks and over the course of the whole week.
So, join us at the Lloyd’s List’s offices in 240 Blackfriars Road at 8:30am for registration and start LISW with an agenda-setting discussion.
The event is free to attend, but space is limited so registration is required.
Lloyd’s List will also be producing a special daily edition of its regular Podcast for the duration of London International Shipping Week which will be available on our LISW page and via most podcast providers.