Ethics and Compliance

Chart Shipping takes a zero tolerance approach to Bribery & Corruption

Since its inception, Chart Shipping has prided itself on carrying out business in an honest and ethical way and we have built up our reputation accordingly. However, in order to meet business best practice and clearly demonstrate our firm commitment to meeting the highest standards of ethical conduct and our zero-tolerance approach to those who are involved in bribery and corruption, the Board and senior management have implemented an Anti-Corruption Policy. Management is committed to ensuring that Chart Shipping acts professionally, fairly and with integrity and transparency in all its business dealings and relationships wherever it operates and has implemented and will enforce effective systems to counter bribery and comply with all local laws.

Specifically Chart Shipping complies with the following two pieces of legislation:

The legislation that has driven recent changes to our Anti-Corruption policy is the Bribery Act 2010 (UK) which came into force in July 2011. Whilst the Bribery Act is a piece of UK legislation it applies to Chart Shipping’s significant activities not only in the UK, but in every country where it operates. Clearly, Chart Shipping also complies and upholds all laws relevant to countering bribery and corruption in all the jurisdictions in which it operates.

The second most important legislation for Chart Shipping to be aware of, given the significant amount of business carried out with US companies and within the United States of America itself is the Foreign Corrupt Practice Act (15 U.S.C. §§ 78dd-1, et seq). The FCPA makes it illegal for any person or a corporation established in, or acting within, the United States to influence, bribe or seek an advantage from a foreign official. (Federal and State Laws also prohibit bribery and corruption of any state, local or federal official.)

Chart Shipping pays serious attention to Sanctions Compliance

We are committed to conducting our business in accordance with all applicable sanctions laws and regulations. In addition, we maintain a robust sanctions compliance program, conducting appropriate due diligence screening on all parties with whom we transact. And finally, we remain vigilant to be up-to-date on the latest sanctions developments that may impact the offshore shipping industry.

Our team is available to discuss any sanctions-related concerns or questions regarding specific transactions or counterparties.