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Industry regulatory disclosure requirements

BIMCO supports Anti-Corruption push at the IMO

BIMCO has co-sponsored a proposal at the 43rd session of the Facilitation Committee (FAL 43) held at the IMO Headquarters on 8-12 April, putting anti-corruption formally on the IMO agenda going forward.

 

This week, a maritime corruption paper was presented at the 43rd session, including a request to the International Maritime Organization (IMO) to make maritime corruption a regular work item.

The paper received solid support from 23 countries and international organizations, including BIMCO who attended the meeting, and it was decided that the IMO will work on a maritime corruption guidance expected to be completed by 2021.

“We are very pleased that the IMO will now discuss the issue of maritime corruption in the FAL Convention and that the IMO will now come up with guidance to help our members by addressing corruption,” says Aron Sorensen, Head of Maritime Technology & Regulation at BIMCO.

“No less than 23 countries and international organisations supported the anti-corruption paper, marking a new step towards a stronger fight against corruption in our industry,” Sorensen says.

To assist its members, BIMCO has developed an Anti-Corruption Clause for Charter Parties that addresses the situation by providing market users with a regime for responding to unlawful demands for gifts.

 

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