Due Diligence

Vessel Reports

Thinking of fixing a vessel but need to know more about her and her background? The IMB will look into the history of a vessel at a member’s request and provide a comprehensive report that can help determine whether this vessel is right for your needs.

Vessel reports also perform a useful background check should you be thinking of purchasing a ship.

Our reports not only supply the essential information about the dimensions of a ship, they can also examine her ownership and management and their areas of expertise, her recent trading pattern, whether she is part of a fleet and if so, what other types of vessel are operated. Together, all this information can help you determine whether these are people you want to do business with and whether the ship is capable of performing the task you want it to do. Vessel reports are a useful tool for saving time and money, and occasionally they provide early warning of malpractice.

Trade Finance Documents Authentication

Fake or false trade and transport documents feature in the majority of modern maritime frauds and are the greatest menace facing the international trading community.

Financial institutions, traders, insurance companies, shipping agents and other intermediaries all rely on transport documents such as Bills of Lading, Seaway Bills, Airway Bills, CMR and FCR when making decisions. A document that appears genuine can induce a bank to pay for goods or finance a trade. It can prompt an insurance company to grant cover on a ship or shipment, or indemnify a fraudulent claimant. It may lead a shipping agent to release a cargo to someone that is not entitled to it.

It is important to remember that any document can be forged. In the maritime industry, fake documents mostly copy the style of a legitimate trader and it can be difficult for a non-experienced eye to spot the difference.

With many years experience and a sound knowledge of what to look for, our Information Department has a large number of resources at its disposal that can swiftly confirm the authenticity of transport documents. We make a number of independent checks with the parties named on documents and others, and these quickly indicate whether there is a cause for concern. We will then flag this up to our member and make further enquiries to determine exactly what is wrong and, more importantly, who is responsible.

Our tried and trusted system has proved invaluable on many occasions and is one of the best ways to verify the performance of the underlying transaction.

Database Search

The IMB confidential database contains the details on tens of thousands of active (and non-functioning) ship owning, management and chartering companies that have come to our attention since 1981.

It also provides current information on vessels, including the latest Port State Control, Casualty and P&I details, as monitoring the recent activities of companies has proved to be a useful indication of determining their future performance.

Primarily designed as a pre-fixture due diligence tool, our database search service provides an invaluable resource for members wanting to obtain information enabling them to check out parties before committing to a trade.

It can also assist investigations into suspicious approaches from companies or individuals that may be fraudulent. In cases whereby a non-performing entity merely continues under a different name, or parties have a history of collusion, the database can often make the link and provide evidence to warn third parties.

Enhanced by the latest analytical software, the database will additionally provide information based on the nature of the crime being examined. It is regularly used by shipping companies, charterers, cargo owners and especially by the trade finance departments of international banks.

Company Reports

Companies often need to know more about the parties they will be doing business with but do not have the necessary resources, expertise or time to know where to look and what questions to ask.

The IMB will perform this service on request on your behalf. Using available public information and our vast network of contacts we can find out what you need to know, whether this be part of due diligence checks before a transaction or after a problem has occurred, when you may wish to know whether it is worth investing additional money to recover assets or get a debt paid.

In a majority of cases, our search will reveal a host of information about the company concerned; who its shareholders are, what its assets are, details of associated companies etc. The list is long and comprehensive, and reports can be individually tailored to meet your specific requirements. They not only save you time and money; they may save you a great deal of aggravation.