Palau International Ship Registry (PISR) – the world’s fastest growing flag according to the respected Fairplay magazine in October 2017 – is now co-operating with the United States of America Bureau of International Security and Nonproliferation (ISN) to avoid registering ships that could violate UN sanctions and resolutions.
ISN is a bureau within the United States Department of State responsible for managing a broad range of non-proliferation and counter-proliferation functions and has been working with PISR since the beginning of 2018. The registry has regularly been conducting due diligence during the vetting process before ships are registered under the Palau flag. PISR has expanded its technology in this area by adopting Pole Star’s sanctions compliance tool, PurpleTRAC to offer a comprehensive sanctions compliance and risk management service for its fleet vessels.
This unique programme is a comprehensive ship-centric economic sanctions compliance and risk management service used by shipping companies, ship financiers, insurers, port state agencies and ship registries. By using PurpleTRAC, PISR can offers high levels of asset monitoring designed to protect both the vessel and crew during operations. PISR has been using Pole Star’s PurpleTRAC software since the start of 2018 and it enables a ship’s details to be entered into a web-based interface and then screened against a range of international economic sanctions lists and Port State Control databases.
Panos Kirnidis, CEO of PISR, is very supportive of the United States and United Nations in this area and he understands the importance of the new smart datalink technology which provides ship owners and managers with the most detailed information to maximise their operational performance and enable detailed monitoring to assist ISN operations.
“We are very involved in working with the United States in ensuring any vessels sailing under the Palau flag comply with both US sanctions and the current UN resolutions. Our strong co-operation with ISN through the US Embassy in Palau means we can work closely in providing a complete vetting of ship-owners, ship operators, ship managers and group owners before registration as part of our due diligence. We have an increasingly high profile in the maritime world and we are determined to work with and assist partners to ensure we prevent the registration of ships that could violate agreed sanctions.”
Panos Kirnidis sees this as an important element in supporting the ISN’s work. “PurpleTRAC can help determine if a ship, its owners or managers are on any sanctions lists and whether it has had any deficiencies found by port authorities or if it has recently called at a sanctioned port or country. This is invaluable in determining if a ship can be registered to fly under our flag. We have a long-standing and invaluable relationship with the USA and we will continue to support the work of the ISN in this sector.”
(Quote a name) of ISN believes the relationship with Palau International Ship Registry is a crucial one in tackling the complex issues of US sanctions and UN resolutions in the shipping world.
“ISN is very happy to be working with a respected ship registry such as Palau because we appreciate they have the skills, network and diligence we need to keep on top of these important issues. The USA and the Republic of Palau have strong links in many areas and this is a further example of the respect we have for their operational excellence in another sector of world trade.”