The shipping and commodities industries have found themselves at the forefront of sanctions developments in recent months. 

 As the United States continues its campaign of sanctions against Iran, North Korea, Syria and Venezuela, the Office of Foreign Assets Control or ‘OFAC’, is increasing the pressure on the maritime and commodities industries to require sanctions compliance.

My name is Nick Maddalena, a consultant for Shoreline, the specialist insurer that provides pioneering maritime insurance solutions on a global scale for US trading and beyond.

In this, the latest in the series of Shoreline’s Maritime Risk Podcasts, I discuss with two leading experts the maritime sanctions ‘seascape’ and the risks and repercussions to shipowners of non-compliance.

Mike Salthouse is a member of the senior leadership team at North Group and a qualified lawyer. He has led industry engagement on the topic of sanctions with the US, EU and UK governments since 2011.

Ron Crean leads global energy, maritime and insurance at Windward. His 27 year maritime career spans shipbroking, liner shipping, tanker chartering and ports and he was one of the pioneers of using AIS data to track commercial shipping starting AIS Live in 2004.