RCS - Windward Ltd. - Attending GTR Commodities post-Swiss contract wins

WindwardAnnouncement

16/09/2022 07:00

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RNS Number : 6679Z  Windward Ltd.  16 September 2022

REACH

 

16 September 2022

 

 

 

Windward Ltd.

("Windward", "the Company")

 

Attendance at GTR Commodities Conference following contract wins with Swiss
traders

 

Attendance at Geneva Commodity Financing event follows contract wins with
three Swiss commodity trading companies in recent months and seismic shifts
impacting global commodity trade

 

Windward (https://windward.ai/) (LON: WNWD), the leading Maritime AI company,
is pleased to announce it will be attending and presenting at the 2022 GTR
(Global Trade Review) Commodities conference in Geneva on Tuesday, 20
September.

GTR is the premier gathering for the global commodity financing sector,
attracting more than 300 delegates from over 200 companies. This event
provides a platform for networking between leading industry experts, and this
year's meeting will feature in-depth assessment of the seismic shifts
impacting global commodity trade and financing amidst the fall out of the
Ukraine invasion and lingering pandemic-driven supply chain disruption.

CEO and co-founder Ami Daniel will be participating in the keynote panel "The
commodity market macro-perspective finance and policy solutions in a volatile
climate" at 09.10 CEST, in a discussion which takes a macro-perspective on
current trends, seeking to identify risks and solutions to the complex web of
commodity challenges.

Windward's attendance at this event in Switzerland follows the signing of
three Swiss commodity trading companies in recent months as new clients of
Windward. The companies are involved in the trading of oil and gas,
petrochemicals, bulk products, fertilisers, and soft commodities. The
companies are using Windward's platform to enhance their due diligence and
screening processes to mitigate all maritime related risks including sanctions
risk, compliance risk, and risk associated with third parties including
customers, vendors, employees, contractors, and others.

Windward's platform analyses numerous factors including vessel behaviours,
ownership structures, company risks, and others, identifying in real-time
which companies and vessels are likely to be high risk, and which are safe to
conduct business with.

The ongoing conflict in Ukraine has brought turbulence to the commodity
trading industry with sanctions against Russia evolving on a regular basis.
New regulations
(https://home.treasury.gov/system/files/126/cap_guidance_20220909.pdf) set by
the US, EU, and G7 will create even further complications with price caps set
on Russian Federation origin crude oil starting in December 2022 and oil
products for refined oil in February 2023. These regulations identify and list
deceptive shipping practices which are being increasingly used by vessels to
evade sanctions, and require industry players to be able to identify such
practices and act accordingly.

Since the beginning of the conflict, there has been a drastic increase in
Russian vessels engaging in dark activity and using ship-to-ship transfers to
transport goods including allegedly stolen Ukrainian grain, making it even
more difficult for businesses to ascertain legitimate and 'clean-conscious'
deals. In light of the new sanctions, all service providers involved in
maritime trade ranging from traders to insurers now need a comprehensive
awareness of risk related to all entities they do business with.

 

Ami Daniel, CEO and Co-Founder of Windward said:

 

"No matter where in the world a company trades, it's increasingly becoming
more complex, and the risks involved are becoming greater. The upcoming cap on
Russian oil prices complicates the process even further, adding more risk
factors that traders must look out for including new companies in high-risk
regimes and abnormal patterns.

 

As sanctions continuously evolve and geopolitical tensions turn into real-life
trade issues, companies need the help of advanced technology and AI to
efficiently monitor, screen, and vet their business partners to successfully
mitigate risk."

 

For more information, please contact:

 Windward Ltd.                                       Via Alma PR
 Irit Singer, CMO

 Canaccord Genuity (Nominated Adviser & Broker)      +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                             +44(0)20 3405 0205
 Caroline Forde / Kieran Breheny / Pippa Crabtree

 

About Windward

Windward (LSE:WNWD), a publicly-traded company on the London Stock Exchange,
is a leading Maritime AI company, enabling organisations to achieve business
and operational readiness. Windward's AI-powered solution allows stakeholders
including banks, commodity traders, insurers, and major energy and shipping
companies to make real-time, predictive intelligence-driven decisions,
providing a 360° view of the maritime ecosystem and its broader impact on
safety, security, finance, and business. For more information visit:
https://windward.ai/.

 

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