All Shipping articles
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ArticleAlfa Laval subsidiaries fined $430K for Iran sanctions violations
Dubai and U.S. subsidiaries of Swedish manufacturer Alfa Laval will settle OFAC charges they violated U.S. sanctions when they shipped storage tank cleaning units to an Iranian company.
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Compliance ‘well-situated’ to handle increasing ESG scrutiny
An expert panel at CW’s 2021 National Conference agreed that compliance is uniquely positioned to help companies in their ESG initiatives. The CCO and chief sustainability officer at FedEx share how this may look in practice.
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Guiding FedEx through pandemic, Justin Ross named CCO of the Year
Companies across the globe faced a true test of competency this past year. FedEx passed the challenge with flying colors under the oversight of Justin Ross, CW’s CCO of the Year at the 2021 Excellence in Compliance Awards.
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Bracing for impact: Supply chain risk management post-Suez Canal blockage
A month has gone by since a 1,300-foot cargo ship ran aground and blocked one of the busiest waterways in the world. For many industries, the ripple effects will continue to batter global supply chains for weeks to come, absent having in place a sound supply chain risk management program. ...
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Suez Canal blockage serves as reminder for key supply chain risk lessons
The grounding of the Ever Given is the latest unexpected incident to cause severe supply chain disruptions around the world. The lessons learned from others, such as the coronavirus pandemic, are just as relevant, writes Aaron Nicodemus.
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U.K. issues maritime guidance for reducing sanctions risk
The United Kingdom has become just the second country to issue guidance for companies in the maritime shipping industry alerting them about common illicit and suspicious practices used to evade sanctions.
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Coronavirus’ negative effect on global shipping could last weeks, or months
Companies wondering how to handle risks the worldwide coronavirus outbreak will have on global supply chains should look for clues to the Great Recession of 2008-09, the last time so much capacity stood idle.
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Can ‘force majeure’ save your company from the coronavirus?
Some businesses—particularly in the global shipping industry—are hoping a provision contained in the fine print of many contracts can avert disastrous financial losses caused by the coronavirus outbreak.
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Eagle Shipping settles ‘egregious’ OFAC case for $1.1M
Eagle Shipping International will make a handful of enhancements to its compliance controls as part of a $1.125 million settlement with the Department of the Treasury’s Office of Foreign Assets Control.
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Investigation widens into how Sealed Air selected its audit firm
Packaging company Sealed Air, currently under investigation by the SEC, has received a grand jury subpoena from the U.S. Attorney’s Office for the Western District of North Carolina and faces a related investigation by the DOJ.
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FedEx sues Feds over export control burdens related to Huawei dispute
Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.
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Maritime Anti-Corruption Network to develop ‘Global Port Integrity Index’
The Maritime Anti-Corruption Network has announced a new partnership with the Ministry of Foreign Affairs of Denmark to launch the first-ever “Global Port Integrity Index” and to scale up its collective action activities in West Africa.
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Hempel resolves bribery case with European authorities for $33.3M
Global coatings manufacturer Hempel has reached a settlement with Danish and German authorities and agreed to a fine of 220 million Danish krone (U.S. $33.3 million) concerning bribery payments made to ship managers in Germany.
