Remøy Shipping endeavours to conduct its business in accordance with internationally accepted business ethics and code of conduct based on principles of mutual trust, transparency, integrity, good corporate social responsibility, building community relations and no favourable treatment. The organization expects every employee, and those working on behalf of Remøy Shipping and its suppliers to adhere to this business ethics policy.

In implementing our Business Ethics Policy, we will adhere to following guiding principles:

Comply with applicable legal requirements in conducting our business and will strive to exceed the requirements where possible.

Political Contributions:

No Company funds or services shall be provided to any political party or individual regardless of whether the contributions are legal under the laws of the state or country in which they are made.

Prevention of corruption and bribery:

No payment shall be made directly or indirectly to obtain favourable action by a government agency. Providing gifts or services, or lavish entertainment to government personnel are prohibited since they may be construed as bribes and attempts to influence government decisions in matters affecting the Company.

Relationships with business partners:

a)      Customers: The Company strives to provide its customers with best quality services at competitive rates. Employees involved with managing contracts must ensure that any statements, communications and representations are accurate and truthful. Customer confidential information must not be disclosed by any employee except where permitted by law or by written contract.

b)      Shareholders: The Company strives to earn the confidence of its shareholders, with the objective of providing them with a profitable investment. The Company provides full and transparent information to all shareholders.

c)      Fair and Open competition: The Company believes in fair and open competition. All employees are prohibited from entering into arrangements with competitors that may lead to price fixing, distorting bidding process or dividing a market or generally acting in contravention of applicable competition legislation.

This policy is subject to annual review during Management meeting and in view of changing legal requirements, stakeholder’s expectations and company’s operations.

This policy is to be displayed on all vessels managed by Remøy Shipping, marine operations sites and in shore based locations and confirms our commitment towards business ethics.