Maritimedata.ai is a digital broker that provides data and analytics solutions for the maritime ecosystem. We work as an intermediary between clients in the maritime industry and solution providers to help them find the best data-driven solutions to their business challenges.

The objective of the newsletter is to provide you with up-to-date information on the most recent advancements in space and furnish you with market insights derived from data analysis.

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A digital search and recruitment business specialized in working with Maritime Data and Analytics companies 📊

TL;DR

• The Science Behind Weather Forecast Models: Improvements in Computing Power and Data Integration

• Demystifying the role and application of AI in Supply Chain

• OFAC Sanctions Breaches: Serious Consequences and Increasing International Enforcement Efforts

• Navigating the Grey Areas of Maritime Risk: the need for Verified Data in a Digital Economy

• GateHouse Maritime launches OceanIntel

The Science Behind Weather Forecast Models: Improvements in Computing Power and Data Integration

A post by Initwx.com 

Accurate weather forecasts allow for better lead time to prepare for environmental disasters. As computing power and data collection efforts evolve, global weather forecast models have the capability to become much more accurate and sophisticated than yesterday’s models. What exactly happens under the hood with these weather models and how do these upgrades help with producing a better weather forecast?

A weather model is a computer program designed to take actual weather observational data as input, and predict a potential outcome based on the laws of physics; the movement of mass, energy, and forces, through space and time. Somewhere in its output, a forecast is made with some degree of accuracy in place, but this will rely on several important factors.

First is the quality of the input data; ideally frequent data with a high degree of accuracy would be best. Frequent can refer to the geographical distribution of measurements or in the frequency at which the measurement occurs (continuous, every 15 seconds, every minute, every hour or even day). According to the U.S. National Weather Service, nearly 1800 weather balloons are launched around the world on a daily basis. This allows for a vertical snapshot of the atmosphere’s weather parameters at multiple levels: temperature, pressure, dew point, wind speed and direction to name a few. This real time data will be used as input for a weather model.

The computing power of the machine that will process this weather data is the second major facet in weather model production. One computing processor is great but a million is exponentially better! A faster machine allows for simultaneous model runs that can each explore various prediction range of potential forecast outcomes. Furthermore, each weather model weighs the microphysical processes of the atmosphere in different ways. Model algorithms will incorporate atmospheric physics processes, the laws of fluid dynamics, mathematical laws, and a statistical analysis of the data crunched through the program.

The forecast skill of any weather model rests on the ability to juggle all of the above, in addition to integrating the influences of other earth’s spheres, especially ocean dynamics and land/water interactions. In recent years, there has been an emphasis on the lack of ocean and atmospheric interactions being integrated into weather models, which is why many of the maritime forecasts lean heavily on the forecaster’s knowledge of geographical influences and nuances of atmospheric pressure patterns.

Demystifying the role and application of AI in Supply Chain

Joe Peak, a commercial director for Windward.ai who is leading their strategy and expansion in the Supply Chain Sector breaks down what AI is, how it can be successfully applied in Supply chains and where we’re headed next.

Highlights:

• What AI is, what it does, and how it works 👽

• How can this be applied successfully in Supply chains and what challenges does it solve?

• What can we expect to see over the next 1-3 years in this space 📈

OFAC Sanctions Breaches: Serious Consequences and Increasing International Enforcement Efforts

A post by Vegamx.net 

Penalties for breaching OFAC sanctions : OFAC considers violations a serious threat to national security and foreign relations. Therefore, offenders face financial penalties —ranging from a few thousand dollars to several million—and prison time up to 30 years. As of 2020, parties that break the Trading with the Enemy Act, for instance, face fines of about $90,000 per violation.

Violating the International Emergency Economic Powers Acts come with penalties of about $308,000 per violation. Similarly, breaking the Foreign Narcotics Kingpin Designation Act costs about $1.5 million per violation. The severity of punishments depends on the crime and the number of prior convictions. Firms that have paid massive penalties—many over $1 billion—include UniCredit Bank, ZTE Corporation, Standard Chartered, Crédit Agricole, Société Générale and BNP Paribas. Standard Chartered, for example, In 2019, agreed to pay $1.1 billion to settle allegations that it violated sanctions on Iran and other countries, which ended long-running probes by the U.S. Justice Department, the U.K. Financial Conduct Authority and other agencies.

Beyond monetary penalties, sanctions violations can bring on a host of other consequences for companies. For instance, the enforcing agency could require the company to complete an independent audit, make specific compliance program improvements, or submit periodic reports on the company’s compliance program. Cases may be publicized by the US government, which can cause problems with banks and other third parties that see this as increasing the risks in dealing with the company. Public enforcement cases can also cause reputational damage.

The number of US government sanction designations grew from 912 to 9,421, skyrocketing by 933%, in the two decades from 2000 to 2021, according to economist Timothy Taylor’s review of OFAC data.

Through the creation of the G7 Enforcement Coordination Mechanism and other multi-national enforcement efforts, the US is strengthening economic sanctions against Russia by ramping up its enforcement against violators. Although the current focus is Russia, this new mechanism also lays the foundations for increased coordination on other sanctions programs in the future. Since G7 will be coordinating on an international basis, companies will need to ensure that the compliance program is global, multi jurisdictional in nature and that they are coordinating internally, between the legal, compliance, and investigations functions.

Analysis of Dow Jones sanctions data as of 2021 shows that sanctions on vessels are growing at an average of 6% annually in recent years, spiking in 2019 with an 11% full-year increase.

The guidance is clear that irrespective of the point in a transaction – whether you’re an insurer, a bank, a trading group, a bunker provider, or any other part of the ocean supply chain, Maritime is in focus for the regulatory authorities.

Navigating the Grey Areas of Maritime Risk: the need for Verified Data in a Digital Economy

_{A post by Maritrace.com}

Events of the past year have drawn attention to threats and risks generated by the existence of grey markets and the spread of misinformation.

The global maritime risk picture is no exception and itself risks being clouded by poor quality, open-source information. Maritime supply chains have occupied a pivotal role in the dynamics of the global economy since traders first took to the high seas: in today’s digital economy, it is likely that an increasing range of customers outside of the traditional maritime space will need verified data to help conduct due diligence, analyse risk, trace unaccounted-for assets or assess claims.

Traditionally, maritime risk areas are defined to help onboard crew navigate safely through areas of increased maritime security risk, demarcated where there is evidence for physical risks to vessels (such as piracy or blockades), or indicators of maritime crime and vessel obfuscation that suggest hotspots for illicit activity (such as ship-to-ship transfers, sanctions evasion). The MariTrace Platform provides rich data and overlays for areas that carry physical risk to vessels: subscribed users can view data on incidents of piracy and overlay heatmaps of piracy and conflict data over time; access rich data on the movements and locations of vessels that are included on global sanctions lists; and use historical timeline data in the MariTrace platform to trace vessel history and movements.

The decision to introduce ACLED data (tracking conflict events on land) into the MariTrace platform reflects the changes in framing how we assess maritime risk.

Increasingly, maritime crime is understood as an extension of activities on land that have deep, complex roots in ecosystems of sustained conflict, producing layered networks of capabilities and assets that extend far beyond borders on maps to include access to digital finance and sophisticated methods for obfuscating identity.

No longer passive carriers of cargo, ships are an extension of these assets and capabilities. The need for quality assurance in data provenance should generate market innovations in data solutions services, as analysts in banks, insurance services and logistics firms seek out verified maritime data. The evolution in how we collectively define maritime risk and security is driving a commensurate upgrade in data and knowledge platforms.

Whats’s New?

GateHouse Maritime has launched OceanIntel

A software-as-a-service (SaaS) solution that leverages machine learning and AI to surveil and protect offshore assets while providing real-time information to port operators.

OceanIntel provides predictive insights that allow users to make data-driven decisions and respond to potential risks before they become problems. With over two decades of experience in vessel monitoring services and intel through AIS technology, GateHouse Maritime is committed to delivering innovative solutions to its customers in the maritime and logistics industry.

Full press release: https://gatehousemaritime.com/news/gatehouse-maritime-launches-oceanintel/

Who should be interested?

1. Maritime Authorities: OceanIntel can be used by maritime authorities to track vessel movements, surveil offshore assets, and respond to potential risks in real-time. This enables authorities to improve maritime safety and security, prevent maritime crime, and protect their territorial waters.

2. Port Operators: Port operators can use OceanIntel to stay updated on incoming and outgoing vessels and optimize their operations. The tool provides real-time information on vessel traffic and helps operators make data-driven decisions to improve efficiency and reduce congestion.

3. Insurance Companies: Insurance companies can use OceanIntel to assess risk, track vessel movements, and optimize their underwriting decisions. The tool provides predictive insights that enable insurance companies to respond to potential risks before they become problems, ultimately leading to better risk management and more accurate pricing.

Book a scoping call or email [email protected] to find out more.

How do 100 Buyers and Users of Maritime Data and Analytics view their solution providers

Calling all buyers and users of maritime data, analytics and platforms 📢

As part of our mission to help source, evaluate and purchase maritime data - We’re running a survey on supplier sentiment 📈

We’re going to set a baseline for how buyers and users of data view their current suppliers based on 3 main categories:

· Data Quality
· Price
· Engagement

We will be anonymising and aggregating the results and will share the report with the first 100 valid participants who complete the survey, so you can get a view how your peers have evaluated their solution providers.

To fill out the survey click here:

Whenever you’re ready, there are 2 ways we can help:

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Thank you for your time.

Best regards,

Rory Proud

Co-Founder

[email protected]