Our company tagline, RISK IS OUR BUSINESS , accurately summarizes who we are and is the cornerstone of everything we do.
Identifying and managing risk of any kind requires more than just selecting the right tools. Preparing for risk is a data-driven task that also requires a keen eye, experience, access and the ability to be agile and adapt. Very often what sets apart successful companies from others is their ability or preparedness to identify and adapt to potential business threats and a rapidly changing environment. Whether it is competition, internal policies, legal loopholes or a completely unexpected global pandemic, we can predict and respond to unanticipated situations at lightning speed.
If you are trying to navigate complex regulatory, contractual, legal or operational concerns, we would love to hear from you. Do get in touch with our Risk consultants using the contact form below.
Our Risk Management services include:

Strategic Risk

Project Evaluation & Market Risk

The maritime industry is so volatile and has so many variables affecting the execution of any project that even the most carefully planned one can encounter unexpected situations. It is hence imperative to come up with guidelines to help figure out how big a risk’s potential impact could be and how much damage the risk would cause to your project. At Wade Maritime, our team helps identify, manage, optimize and mitigate risks and build a strong risk framework for sustainable growth.
Not all risks are necessarily negative. Arguably without some risk, you don’t have a business.
Sometimes these situations might present an opportunity which if identified and handled correctly and in a timely fashion might lead to results that were better than the original plan. These new opportunities need to still be handled as a risk.
Our risk management plan tells you how you’re going to handle risk in your project. It documents how you’ll assess risk, who is responsible for doing it, and how to ensure that the process from the identification to elimination/mitigation or optimization is efficient and timely.

Regulatory Risk and Technological Changes

We live in the age of digital innovation and automation. The interaction between technological capabilities and regulatory change is central to the success of both regulators and firms. Regulatory change can also accelerate significant technological innovation thereby driving businesses. In the shipping industry, new regulations almost always outpace technological innovation. In such an environment, it is important for companies to ensure that significant measures are taken to ensure transparent markets while allowing innovation and business to flourish.
New rules and directives stipulated by the International Maritime Organization (IMO) lead to a fair amount of regulatory risk for companies. One such example is the Ballast Water Management Convention or BWMC, a treaty adopted by the IMO to help prevent the spread of potentially harmful aquatic organisms and pathogens in ships' ballast water. Another example is the Emissions Regulation that will require, as applicable, vessels to reduce their greenhouse gas emissions.
If a shipowner wants to buy new ships / second-hand ships, we can help analyze the impact of such regulations, impact on a new fleet, feasibility etc. and translate that into a commercial strategy.

Competitor Intelligence & Benchmarking

Competitor intelligence and benchmarking is a vital part of the toolbox of measures that should be made available to any business, to plan and prepare its growth strategy and to anticipate its short and medium-term risks and opportunities more effectively.
Our Competitor Intelligence and Benchmarking division can help you understand your competitors’ objectives and strategies as well as resources and capabilities. In a nutshell, we can assist you in sizing up your competition and gain an insight into their strengths and weaknesses.
Our consultants have the expertise to help businesses grow by measuring the company’s performance against well-performing competitors. They research and identify superior performance areas of other companies, and cross-compare them to suggest modifications.

Operational Risk

Ship and Terminal - Audits and Inspections

With a network of qualified, experienced and carefully vetted marine professionals from all across the globe and working in almost every major port in the world, our team can attend to any type of ship, assess their condition and check all facets and factors requested by our clients.
At Wade Maritime, we provide a highly specialized range of audits, surveys and inspection services including but not limited to;
  • On-hire/Off-Hire Bunker and Condition surveys
  • Investigative (221B type) Bunker ROB surveys
  • Bunker Quantity Surveys including deliveries using Mass Flow Meters
  • Pre-Purchase and Condition surveys
  • Passage advisory for preparing for next loading or taking care of cargo on a carrying voyage
  • Port Captain / Expeditor – Review of stow plan, verification of stability & cargo calculations, assistance with safely and efficiently loading and discharging of cargo.

Enhanced Due Diligence for Marine and Ship Vetting

Despite increased safety standards today, there are still a considerable number of accidents and fatalities during maritime operations. So, whether you’re a charterer, shipowner or a terminal operator, you need a reliable system to carefully manage all safety, quality and environmental risks and ensure that the vessel complies with your unique vessel selection criteria to reduce the likelihood of casualties, cargo damage, costly delays and detentions.
Our Enhanced Due Diligence service plays a key role in supply chain operations, helping you eliminate options that do not comply with your unique risk profile from your logistics chain, in turn ensuring cargo is moved safely.

Contractual Risk

Contract/Charterparty Evaluation

Different charter parties impose different categories of clauses, exclusions and limitations based on their requirements and risks. For this reason, both shipowners and charterers should consider seeking expert advice to draft, amend, review or revise their contracts/charter parties.
As part of assisting our clients to manage risk, we are often called upon to review Charter Parties and other contracts such as Pool Agreements, Commercial Management Agreements, Pipeline Supply contracts and the marine clauses in commodity sale and purchase agreements. This ensures contracts are commercially practicable, comprehensive, internally consistent and minimise potential contract risk for our clients.

Due Diligence on Contracts, Performance and Earnings

Due diligence is a valuable risk management tool which aims to identify any potential risks or disadvantages. By conducting due diligence, parties provide themselves an opportunity to uncover contractual issues and unforeseen liabilities and correct them prior to a transaction. Given the multifaceted and complex nature of the maritime industry, a specialized approach is needed which our maritime due diligence experts at the Wade Maritime Group are qualified to handle.
As part of minimising contract risk, we ensure that there are clear and unambiguous provisions to cover issues such as laytime and demurrage, custody transfer, documentary requirements and vessel performance. As part of our work on Commercial Operations, we also assist clients with any potential claims following breaches of contractual terms. In this way we aim to assist our clients in preventing Profit Leakage.

Claims Advisory: Early Neutral Evaluation and Dispute Resolution

Early neutral evaluation is a non-binding Dispute Resolution Method that includes a preliminary assessment of facts, evidence, or legal merits. The goal of early neutral evaluation is to improve communication between disputing parties and provide a “reality check” for everyone involved. During this process, a neutral expert assesses the merits of the case and works with involved parties to come to a clear understanding of the central issues of the dispute.
In a highly confidential process, each party presents the factual and legal basis for its claims and defenses and the evidence upon which those claims and defenses are based to a trusted neutral party with expertise in the substantive area of the dispute. We have the expertise to be this trusted neutral third party and have facilitated several such negotiations.