Windward signs first Flag Registry customer

RNS Number : 6595M

Windward Ltd.

25 May 2022

 

Windward Ltd.  

("Windward", "the Company" or "the Group") 

Windward signs first Flag Registry customer  

Sierra Leone Maritime Administration partners with Windward to enhance Screening Processes and Maintain a High Quality Vessel Registry   

London, UK, 24 May, 2022   -  Windward (LSE: WNWD), a leading Maritime AI company, announced today that it has partnered with the Sierra Leone Maritime Administration (SLMARAD), an open registry which operates and governs the Sierra Leone flag registry. This is the first flag registry to sign with Windward, representing an expansion into a new area of the maritime industry. 

SLMARAD will use Windward's AI-powered platform to screen all existing and incoming vessels in its registry, allowing the administration to maintain a high quality of registrants and ensure the safety of life at sea and protection of the marine environment. 

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

"We are excited to work with the Sierra Leone flag registry to improve its screening processes and reputation in the global trade community.  

The AfCFTA* agreement has increased the economic potential of Africa in maritime trade and ensuring the safety and reputation of vessels sailing under African flags is essential to conduct trade on a global scale."   

Marianna Fournari, General Manager of SLMARAD said:  

"We are thrilled to be partnering with Windward, the leading Maritime AI solution in the industry. Prior to using Windward's platform we could only monitor vessels with Automatic Identification System data. The platform allows us not only to investigate the vessels in our registry with ease but gives us an extra layer of insights into vessel behaviour that only advanced AI and over a decade of maritime expertise can provide."   

Windward's Maritime AI solution is powered by advanced machine learning and behavioural analytics models, empowering its clients across the border security, finance, shipping, energy sectors, and beyond to optimize business and operational practices and efficiently navigate all aspects of maritime risk in real-time. 

Flag registries with a poor rating can be classified as high risk, discouraging new vessels from sailing under that flag and other stakeholders from conducting business with vessels under that flag. Flag registries therefore need to create and maintain a good reputation to conduct business with confidence. 

SLMARAD will use Windward's system to investigate both new and existing vessels in its fleet to determine which vessels are engaging in illicit behaviour including illegal fishing, sanctions busting, and drug smuggling, amongst others. The AI-powered platform will optimise SLMARAD's registration process with enhanced due-diligence procedures, ensuring that incoming vessels are safe to conduct business with. The platform will also be used to streamline the yearly re-application process for existing vessels and ensure that vessels currently sailing under the Sierra Leone flag do not conduct any deceptive shipping practices. 

* The African Continental Free Trade Area is a free trade area founded in 2018, with trade commencing as of 1 January 2021. It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union nations.  

For more information, please contact:  

Windward	Via Alma PR
Irit Singer, CMO
Canaccord Genuity  (Nominated Adviser & Broker)	[phone]
Simon Bridges / Andrew Potts
Alma PR	[phone]
Caroline Forde / Kieran Breheny / Hilary Buchanan

About Windward  

Windward (LSE:WNWD), a publicly-traded company on the London Stock Exchange, is the leading Maritime AI company, enabling organizations 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/ . 

About Sierra Leone Maritime Administration  

Sierra Leone Maritime Administration is an open registry accepting worldwide shipowners and various type of vessels that meet the Sierra Leone standards. Sierra Leone Flag has seen a tremendous improvement through the years after implementing efficient control mechanisms and smart policies. It has been transformed into a digitalized smart ship registry #movingforward with the highest quality, transparency and safety. 

Reach 

This is a Reach announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.  

 

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