Compliance underpins every commercial engagement undertaken by Namor Shipping DMCC.
Our compliance framework is integrated throughout the business and forms part of every fixture, counterparty review and commercial transaction. Comprehensive sanctions screening, due diligence and ownership verification procedures enable our clients and business partners to transact with confidence.
Sanctions Compliance
Namor Shipping DMCC is committed to compliance with all applicable international sanctions regimes, including those administered by the United Nations, the European Union, the United Kingdom, OFAC and other relevant authorities.
Counterparties, vessels and associated parties are screened prior to engagement and remain subject to ongoing monitoring throughout the commercial relationship.
Vessel Screening
Prior to entering into any fixture, vessels are assessed using specialist maritime intelligence platforms, sanctions screening databases and ownership verification tools.
Risk indicators including sanctions exposure, ownership changes, AIS anomalies and adverse intelligence are reviewed as part of the Company’s approval procedures.
Counterparty Due Diligence
The Company applies a risk-based due diligence process to all counterparties.
This includes verification of corporate registration, licensing, business activities, geographic exposure, sanctions screening and adverse media reviews.
Enhanced due diligence is undertaken where elevated risk factors are identified.
Beneficial Ownership
Namor Shipping DMCC undertakes beneficial ownership reviews to identify Ultimate Beneficial Owners (UBOs) and other controlling interests.
Understanding ownership structures forms an integral part of the Company’s sanctions compliance and risk management procedures.
Compliance Oversight
A dedicated compliance function is responsible for implementing the Company’s compliance framework, maintaining internal policies and overseeing sanctions reviews, due diligence procedures and transaction approvals.
Regular staff training and policy reviews ensure the framework remains aligned with evolving regulatory requirements and industry best practice.
External Legal Support
Where appropriate, Namor Shipping DMCC engages specialist maritime legal counsel and compliance advisers to provide transaction-specific advice and regulatory guidance.
The Company also utilises recognised compliance screening platforms, including Dow Jones Risk & Compliance, to support its sanctions screening and due diligence processes.
Governance Framework
The above forms part of Namor Shipping DMCC’s wider governance framework covering:
- Know Your Customer (KYC)
- Anti-Money Laundering (AML)
- Anti-Fraud
- Competition Law
- Data Protection
- Cybersecurity
- Information Security
The framework is reviewed periodically to reflect changes in applicable legislation, regulatory expectations and operational risk.