July 28 - TRACE International has partnered with provider of online maritime and environmental management systems, RightShip, to promote commercial transparency in the shipping industry.
In collaboration with RightShip, TRACE has developed a compliance rating (CR) for vessel owners.
The TRACE - RightShip compliance rating will result in greater commercial transparency and reduced risk to charterers, says the anti-bribery organisation.
The compliance rating for each vessel owner will be determined as part of a due diligence process that includes sanctions screening and TRACEcertification anti-bribery review, analysis and approval process. The review will result in one of four possible compliance ratings: CR-1, CR-2, CR-3, and CR-3s.