Simplify maritime regulatory complexity with a comprehensive commercial platform.
- Introduction
- Our clients
- Commercial impact of maritime regulations
- By the numbers
- How IMOS helps
- Related solutions
- Frequently asked questions
- Relevant resources
- Featured experts
- Contact us
Struggling to integrate complex maritime regulations into your contract management workflow? We can help.
New maritime regulations continue to emerge each year, challenging maritime shipping stakeholders on all sides of the contract to incorporate new regulatory considerations and remain compliant. In fact, maritime shipping professionals widely cite regulatory complexity as a top operational challenge. Unfortunately, navigating maritime shipping’s complex regulatory landscape is impossible without a proper commercial platform.
From maritime emissions regulations to geopolitical sanctions and vessel safety requirements, the Veson IMOS Platform simplifies regulatory complexity through robust decision support, integrated reporting, a compliant contract management workflow, and a suite of complementary solutions.
Meet some of our clients.
“We have a lot of change in regulation… new things that in our industry we were not used to. Having a partner like Veson who adapts very, very quickly and responds to the needs of the market is fundamental for us.”
— Nevio Biagini
ICT Manager, d’Amico Shipping Group
There are three major categories of maritime regulations. All of them impact commercial decisions.
As a commercial maritime freight management platform, the Veson IMOS Platform supports our clients as they integrate timely regulations into their contract management workflows. Let’s take a closer look at the three key types of maritime regulation.
Environmental regulations
Perhaps the most significantly evolving category of maritime shipping regulations is environmental. Specific examples include IMO’s implementation of CII ratings and the addition of maritime in EU ETS, which has sweeping implications for voyage planning and exposure management. Addressing environmental regulatory complexity requires integrated reporting, the inclusion of emissions-related criteria into decision support, the expansion of risk management to include carbon exposure, and a platform that is adaptive enough to adjust as these regulations mature and evolve.
Geopolitical regulations
The global reach of the maritime shipping ecosystem, coupled with ever-changing geopolitical realities, requires the careful management of sanctions and regulations. A simple oversight in this area can harm counterparty relationships and profitability. Key aspects of addressing geopolitical regulations include carefully managing crew information at scale and configuring dynamic alerts that enable sanctions to be proactively considered in decisions. In addition, geofencing can powerfully support stronger geopolitical oversight by accurately tracking when a vessel enters or leaves a pre-determined area, then alerting the appropriate stakeholders.
Safety regulations
The Maritime Safety Committee (MSC) oversees the International Maritime Organization (IMO) in regulations and requirements related to the safety of maritime vessels, vessel routes, hazardous cargoes, and more. Upholding vessel compliance in all of these areas requires that they be considered in decisions throughout the voyage lifecycle—from pre-fixture to ongoing operations and post-voyage analysis. Specific examples include carefully managing tanker certificate information, considering prior cargoes in chemical voyage planning, and making safety information readily accessible from anywhere in the platform.
Tell us about your regulatory challenges
By the numbers.
According to a recent poll conducted by Veson:
70%
of maritime shipping professionals said that regulations have already changed their day-to-day workflows to some degree, while 30% have not yet adapted.
75%
of maritime shipping professionals believe lower emissions will involve a combination of new fuel types, ship designs, and other technologies.
60%
of maritime shipping professionals indicate IMO’s implementation of CII ratings as the near-term regulatory change with the greatest importance and impact.
“I think all the [discussion] about the new fuel types is super fascinating, but… it’s going to take a few years before we get there. What’s on our agenda is really efficiency and reduction through the technological means we have available today. We are really putting all efforts into reducing here and now.”
— Lars Mathiasen
Head of Commercial Decarbonization and Head of Bunkers, TORM
Navigate complex regulations with the Veson IMOS Platform.
Ultimately, the ability to navigate complex maritime regulations, both new and existing, comes down to four key elements of success.
Contextual decision support
It’s not enough to have quality data—that data has to be presented at the right moments in the commercial workflow. IMOS provides contextual decision support that empowers stakeholders to make informed, compliant, and sustainable decisions in a timely manner.
Quality information
Making compliant decisions and reporting on maritime regulations both rely on a foundation of accurate and timely information on vessels, bunkers, and voyages. IMOS makes this information available to all stakeholders at all points in the workflow for a single source of truth.
System integrations
It takes a village to address maritime shipping regulations. By integrating with other solutions that are specialized in the environmental, geopolitical, and safety-related aspects of the regulatory landscape, IMOS supports organizations in enhancing and evolving their approach to compliance over time.
Integrated reporting
To affirm compliance, maritime stakeholders require the ability to seamlessly create and share reports with key decision-makers and regulators alike. IMOS’s integrated reporting capabilities enable users to leverage pre-built report templates or create their own based on regulatory or company standards.
Discover related solutions.
EU ETS Tax
Manage and optimize voyage operations in line with EU ETS regulations.
CII Tracking
Track voyage performance against contract and regulatory requirements, such as CII.
Exposure Management
Centrally manage and integrate freight, bunker, and carbon exposure at scale.
Vessel Information
Access accurate vessel data and maintain a central audit trail to minimize risk.
Regulatory Data
Access complete, up-to-date historical records to better analyze your performance and regulatory compliance.
Congestion Analytics
Understand port congestion to optimize route planning and minimize emissions.
Frequently asked questions.
Frequently asked questions about regulatory complexity.
What is the relationship between innovation and maritime regulatory complexity?
Maritime regulations are always evolving. Adapting to these regulations, particularly those related to decarbonization, requires agility on the part of the commercial platform. And this agility is only possible in an organization that is in the habit of innovating at a rapid pace. At Veson, the evolution of our platform is a natural part of our process. This includes regularly enhancing IMOS to address ongoing regulatory changes.
What is the role of other solutions in addressing regulatory complexity?
Decarbonization, in particular, is among the most complex and universal priorities in the maritime shipping industry. We are passionate about facilitating openness and interconnectedness between solutions that provide innovative and important solutions for environmental regulations and other aspects of the regulatory landscape. We do so in a focused way through our Veson Partner Network, and more broadly through our flexible cross-system integrations.
How has regulatory complexity impacted commercial outcomes in maritime shipping?
Some facets of regulatory complexity have an impact on financial outcomes that are both direct and easy to understand. Violated sanctions, for example, can result in outsized fines. Poor safety standards can also result in costly penalties, as well as safety incidents that can harm vessels, cargoes, crew members, and the environment. But for some new maritime regulations, such as those that address maritime emissions, the commercial impact is more complex. For example, the addition of maritime shipping to the EU ETS fundamentally alters the way maritime exposure is measured, offset, and managed. This has a sweeping impact on commercial decisions at every stage of the voyage lifecycle.
How have maritime regulations changed operational processes?
The long-term operational impact of many new maritime regulations is still evolving. In many cases, compliance represents an extra step in the process, but in other cases, it requires a new process altogether. For example, CII data must now be maintained for every vessel. The consideration of CII impact has significant operational implications, and requires organizations to operate all of their vessels across all of their voyages more efficiently. Operational change isn’t always easy, but we’re here to support our clients. At Veson, our Global Services organization specializes in helping clients navigate the operational changes that come with regulatory complexity in a way that is practical, effective, and of course, compliant.
Do you have any additional questions that we didn’t answer here? We’d love to answer them. Contact us to connect with a maritime shipping expert.
Explore relevant resources.
Managing Regulatory Complexity Panel
How industry leaders are tackling regulatory complexity and preparing for regulations like CII and EU ETS.
How to Manage the Commercial Impact of Maritime Regulations with Confidence
Three major types of maritime regulations, how they can impact your organization, and how technology can help.
The Fundamentals of Making Smarter Freight Decisions
The future of decision making in maritime and impact on decisions facing maritime organizations today.
