//

CSC joins MACN to fight corruption in maritime industry

3275 views
2 mins read

The Cyprus Shipping Chamber, the umbrella organisation representing the majority of locally-based companies in the maritime sector, is joining forces with the Maritime Anti-Corruption Network (MACN) to help combat corruption in the shipping sector.

The CSC, whose members employ up to 60,000 onboard their vessels around the world, signed an MoU with the MACN whereby they will “collaborate on the eradication of corruption in the maritime sector and to safeguard a fair and sustainable maritime operating environment.”

Several Cyprus shipping and ship-management companies are already members of the MACN group that has more than 130 members representing the entire maritime industry value chain.

The Network, established in 2011 by a small group of maritime companies committed to fighting corruption, promotes best practice in the maritime industry for tackling bribes, facilitation payments and other forms of corruption.

The Shipping Chamber said in an announcement that it is “extremely proud for becoming a MACN Partner” and states its commitment to support and promote the work of MACN within the Cyprus shipping industry.”

MACN states that companies must ‘walk the talk’ and implement practical and sustainable solutions to address and combat corruption.

“The business landscape is encouraged by ever tightening anti-corruption regulations and growing expectations from customers, peers, investors and regulators on ethical business conduct.”

MACN membership is open to companies that own or operate commercial vessels as well as companies in the maritime value chain such as ship management, port management, terminal operation, shipping agency, freight forwarding, charterers of vessels for the transportation of cargo, shipping associations, Protection and Indemnity Clubs (P&I) and flag registries.