Sanctions

At Kager International Group, we are dedicated to upholding the highest standards of compliance with international economic sanctions and regulations. In recognition of the growing significance of sanctions in global trade, we have strengthened our efforts to closely monitor and adapt to the evolving landscape of sanctions.

Commitment to Compliance

Our comprehensive counterparty due diligence process incorporates rigorous sanctions checks, utilizing both third-party systems and our internal processes. Every day, we screen our entire list of business counterparties and relevant associated individuals against international databases to ensure full compliance.

Daily Sanctions Screening

The Kager International Group Compliance Department, which includes experts dedicated specifically to sanctions compliance, maintains active engagement with governments that impose sanctions, including the United States, the United Kingdom, and the European Union. This engagement ensures we stay updated on the latest developments and regulatory changes.

We have invested significantly in advanced IT systems to support our due diligence and tracking processes. These systems provide our employees with real-time access to critical data. Our Counterparty Management System (CMS) screens counterparties and related parties daily against third-party vendor systems that monitor for sanctions violations, Politically Exposed Persons (PEP) exposure, and other relevant risks.

Counterparty Management System (CMS)

Our CMS centralizes all counterparty due diligence within a single, controlled environment, ensuring uniformity in processes and oversight. This system is integral to our operations, as all payments are checked against CMS before any transfer of funds. The centralized nature of CMS allows our Compliance team to swiftly react to new information and, if necessary, deactivate a counterparty across all company systems within minutes. Vessels and their owners are also screened daily through CMS.

Vessel Screening

We partner with Pole Star for vessel screening, integrating their Purple Trac system within our CMS. This integration leverages advanced interface and escalation technology, ensuring comprehensive screening of vessels by our chartering teams each day. Our compliance vessel screening is seamlessly integrated with the operational vessel vetting process, ensuring that every vessel undergoes thorough vetting prior to chartering.

Clearlake Shipping, our wholly owned chartering company, has developed a rigorous vetting procedure to ensure all tonnage controlled by the company meets the highest standards for vessel quality and international law. This procedure is conducted jointly by Clearlake Shipping’s vetting and compliance teams for every vessel.

Interested in Compliance?

If you have any questions or require further information about our compliance practices, please feel free to reach out to our Compliance Department. We are committed to maintaining transparency and ensuring that our operations adhere to the highest ethical standards.

For more information about our compliance and sustainability practices, please visit our Ethics & Sustainability page.