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CORRECT: Windward AI deployment to combat maritime sanctions-busting

Wed, 05th Jul 2023 14:37

(Correcting where Windward Ltd is based.)

Windward Ltd - Tel Aviv, Israel-based maritime predictive intelligence company - Announces partnership with London Stock Exchange Group PLC to tackle "sanctions-busting" in the global shipping industry. Windward's maritime artificial intelligence technology will be used to augment the LSEG Workspace platform's existing shipping analytic capabilities. The technology will use AI and advanced behavioural risk assessments models to screen vessels for potentially illicit activity, such as turning off or altering a tracking device, and determine a risk profile. Windward says the Ukraine conflict highlights sanctions risks, with many high-risk tankers being Russian-affiliated and a "significant increase" in deceptive practices including "dark activity" and ship to ship transfers.

Chief Executive Officer Ami Daniel says: "We are thrilled to join forces with LSEG to provide crucial insights into maritime risk, a must for anyone involved in maritime trade. In this turbulent environment, it is more important than ever for stakeholders to be aware of all evolving risks. By combining our Maritime AI technology with LSEG's comprehensive market data and reach, we are strategically poised to revolutionise risk management in the maritime domain."

Current stock price: 66.00 pence, up 15% on Wednesday

12-month change: down 37%

By Emma Curzon, Alliance News reporter

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