Korea Risk Announces Enhanced Sanctions Monitoring

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By MarEx 2017-07-07 16:07:33

Korea Risk Group has launched an updated version of its proprietary NK Pro Ship Tracker, a maritime database that tracks movements of North Korea linked ships and provides important historical data to help private sector and government entities protect their interests and avoid breaching sanctions.

The NK Pro Ship Tracker has supported numerous reports that have resulted in the identification of sanction violations, has been cited by the UN Panel of Experts, and has delivered valuable insights to clients of NK Pro in both the public and private sectors. Recent reports include an uncovering of a mass reflagging effort in late 2016, identified by Korea Risk’s Director of Data & Analytics, Leo Byrne.

“The upgraded NK Pro Ship Tracker combines multiple data streams to shed further light on elements of the DPRK's maritime industry that often attempt to avoid close scrutiny,” said Byrne. “Vessel positions are updated hourly, but historical records reveal their positions dating back to 2013.”

This historical positioning allows researchers to better understand the movements of North Korean vessels and the frequency of their visits to key trading locations for bulk commodities like crude oil and coal. This alone will provide an indication of the commitment from governments to support sanction enforcement, as the proximity and frequency of vessels will detail trading activities between North Korea and foreign states.

Byrne added that the updated NK Pro Ship Tracker provides “ship biographies, previous names, and company information to help track vessels as they change their characteristics, a tactic employed by the DPRK to obfuscate their links to certain ships."

This feature allows both private sector and government organizations to protect their own interests, ensuring that they are not unknowingly transacting with North Korean trading fronts, resulting in a breach of U.S. or international sanctions. As can be seen in the recent article "Despite ban reports, N. Korean tankers used CNPC terminals in May, June."

For Companies wishing to learn more about how the NK Pro Platform and the NK Pro Ship Tracker can help them protect against sanctions violations, please visit the following page for more information here.

The products and services herein described in this press release are not endorsed by The Maritime Executive.

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