Risk Management

Seatrek believes in the importance of risk management — the inherent need to identify and assess contingencies and uncertainties at every stage of the business. The risk team vets the counter-party and all available information is taken into account when evaluating opportunities associated with potential new accounts.

The shipping business is not only about owning ships and transporting cargo. In business parlance, risk management has been described as the process(es) of identifying, assessing, and reviewing risks associated with any service or business. The management team at Seatrek is always on our toes to minutely identify all potential risks in respect to the organization, business, client, and cargo.
Risk management is a form of resilience strategy, which involves a process to protect the company, the clients, and others associated in the business. Managing risks at Seatrek is thorough a process of Evaluation-Discussion-Analysis. Though the company management has drafted tight specifications, and boundaries and parameters have been set, we recognize no one-size-fits-all solution exists in such a dynamic industry.

Risks, depending upon their nature and severity, may be managed in different ways – including avoidance, retention, and transfer. Any combination of these must be evaluated. However, all of this is done within the pre-specified limits, with commercial and legal departments intrinsically involved in the process that protects all counterparts.

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