Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
The US based research organization, C4ADS, has released a new
analysis paper documenting maritime trading activity in Venezuelan
waters. This paper focuses on the US Office of Foreign Asset
Control (OFAC) sanctions on PDVSA, the Venezuelan state owned oil
company and how US sanctions since January 2019 have affected the
country's vessel activity.
The report outlines, through the use of AIS data to track and
locate a vessel and corporate information on ship ownership, how
Venezuela's shipping network has been disrupted and impacted by US
Executive Order 13850. Two of the important elements in the paper
cover dark activity (a vessels AIS transmitter being switched off)
and port visits. In both cases, activity decreased, with port calls
down 46% and dark activity down 2%. Equally, it was found that
vessel activity in some respects increased; 100 vessels made their
first call to a Venezuelan port since the EO was signed in January
2019.
In the C4ADS report, IHS Markit's role as the issuer of the IMO
number for vessels and originating source for the IMO Unique
Company and Registered Owner Identification Number Scheme is used
with great effect to identify vessels engaged in potential
sanctions evasion. IHS Markit data is used to identify suspicious
vessels and most importantly identifying the complex ownership
structure that sits behind the vessel.
The detailed report by C4ADS offers unique insights into the
trading patterns, methods and networks of various shipping
companies when dealing with Venezuelan oil cargoes. IHS Markit is
proud to support efforts to uncover and understand in greater
detail how sanctions are frequently being evaded through the use of
its maritime content.
