Responsible Business Conduct

Western Bulk is committed to comply with national and international legislation and regulations as well as our internal standards.

RESPONSIBLE BUSINESS CONDUCT ("RBC")

As a company providing shipping services worldwide, Western Bulk recognizes its responsibilities as a global, corporate citizen. We aim to integrate RBC efforts into our daily operating and business practices, because the actions we take not only affect the long-term sustainability of our business, but also make us competitively stronger and enhance the value of our business in the future.

The Code of Conduct is approved by the Board of Directors, to further reflect WB’s emphasis on good corporate conduct (available below), in addition to abiding by applicable laws, rules and regulations. The Code of Conduct includes requirements and expectations related to i.a. confidentiality and communication issues, conflicts of interest and matters of integrity.

MACN

 

Western Bulk is a member of MACN

Western Bulk joined the Maritime Anti-Corruption Network (MACN) in 2013. Established in 2011, MACN is a global business network working towards its vision of a maritime industry free of corruption, where the members learn and share best practices to improve their anti-corruption programs. MACN also collaborates with key stakeholders, including governments, authorities, and international organizations, in markets where corruption is prevalent to its membership, to identify and mitigate the root causes of corruption in the maritime industry.

 

Other relevant documents:

Western Bulk

Email and IT-related Fraud Alert

There is an increasing risk of attempted fraud and other security threats via email. In particular, Western Bulk has noticed an increase of fraudulent requests to change bank account details of suppliers/creditors, in an attempt to redirect payments to criminals and not to the intended recipient. We encourage everyone to be vigilant and learn to detect fraudulent email instructions - seemingly legitimate emails may contain fraudulent information, this is not just a cybersecurity matter.

As a result, Western Bulk will treat any notice of bank account changes as suspicious. Urgent pressure to effect payment as soon as possible without verification of the changes will also be treated as suspicious.

Please note that Western Bulk would not inform of changes to bank account details by email notice alone. In the unlikely event that we need to change a beneficiary name or our other bank account details, we would personally contact our supplier or customer in order to personally verify any change in details.

Similarly, we ask that all our suppliers and creditors:

1. first notify us in writing and
2. personally verify any change in bank details or change in beneficiary in any payment advice to Western Bulk.

In summary, notices of bank account changes will require voice confirmation from your Western Bulk contact, either by telephone or face to face, before payment can be authorised so please make sure to notify any changes in good time.