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Governance Goals

Corporate Governance

Objective:

Uphold the highest ethical integrity and leadership standards

Goals

  • Proactively identify, address, and monitor all significant risks
  • Zero facilitation payments

Strategies

  • Enterprise risk management framework in place with oversight from the board
  • Mandatory training on Code of Ethics, Prevention of Harassment in the workplace, and Cybersecurity
  • Raising awareness amongst all stakeholders
  • Developing and sharing best practices
  • Creating a culture of integrity

Measures

  • Risks are continuously monitored and mitigated to an acceptable level for the business
  • Zero facilitation payments
Read 2023 ESG Report

Corporate Governance

Because we are dedicated to operating in the best interests of our clients, partners, and employees, we base our decisions on doing the right thing at all times to ensure that we have a sustainable business in the long run. Transparency and good governance are the main focal points of our operations and policies. Our commitment to responsible business practices ensures we adhere to all relevant laws and regulations while upholding ethical and compliance standards. These integral practices are crucial to the business's success and are deeply rooted in day-to-day operations.

Members of Fednav's leadership team serve on worldwide governing bodies and work with international organizations to set regulations and best practices for the industry. Emphasizing ethics and compliance involves fostering a culture where ethical considerations are integral to decision-making processes. This necessitates establishing clear codes of conduct, providing comprehensive training, and implementing robust monitoring and reporting mechanisms.

Policies and Procedures

Fednav complies with all applicable regulatory requirements and tax regulations in the jurisdictions where it operates. Where possible, we adopt best practices that go beyond what is legally required.

Our policies and procedures ensure that we conduct our business responsibly.

Crafted upon the foundational values of integrity and honesty, Fednav's Code of Business Conduct and Ethics supports our commitment to upholding legal and ethical standards.

This comprehensive Code delineates our firm stance across various pivotal domains, including:

  • Adherence to Legal Frameworks
  • Prevention of Discrimination and Harassment
  • Vigilance against Conflicts of Interest
  • Accurate Recording and Transparent Reporting of Information
  • Vigilance against Bribery, Corruption, and Money Laundering
  • Guidelines on Gifts and Hospitality

By adhering to these principles, we affirm our commitment to fostering a culture of trust, transparency, and accountability throughout our organization, ensuring that each member operates with the highest level of integrity and responsibility.

We are committed to promoting a work environment that is free of harassment and violence. All employees have the right to be treated fairly, respectfully, and with dignity, and they are responsible for treating others in the same manner. Therefore, we take every reasonable measure to prevent and resolve instances of harassment and violence in the workplace.

The Policy for the Prevention and Resolution of Harassment and Violence in the Workplace applies to all Fednav employees and all third parties (i.e., suppliers, customers, clients, job applicants, etc.). It encompasses all situations of harassment, discrimination, and violence in the context of work-related activities.

We are dedicated to fostering a workplace free from unlawful discrimination, bullying, or harassment. In 2023, we took a significant step forward by introducing a third-party whistleblower process. This crucial addition was made to promote transparency, accountability, and a culture of integrity within the organization. We recognize the importance of providing employees with a secure and confidential channel to report any instances of misconduct, unethical behaviour, or legal violations without fear of retaliation.

Amidst turbulent times and market fluctuations, we've gained a deeper insight into both foreseeable and unforeseeable risks. Climate change and cybersecurity are just some examples that pose unpredictable threats with significant implications for our industry and global communities.

Our enterprise risk management approach involves assessing risks, evaluating mitigation controls, and reporting findings to Fednav's Board of Directors. We regularly review and update our enterprise risk management framework to adapt to industry changes, taking decisive action to eliminate or minimize risks and safeguard our operations.

Our decisions prioritize long-term sustainability by considering various factors. We enhance our risk assessment by measuring global forces like market volatility, geopolitical dynamics, cyber threats, and technological advancements, enabling informed business decisions. Additionally, we strengthen our readiness for unforeseen events through continuity and recovery planning, ensuring our lasting success in navigating future challenges.

Digital Transformation

In the dynamic realm of global trade, Fednav's digital evolution represents a pioneering shift towards innovation and operational efficiency. Central to this progression is the adoption of state-of-the-art tools, which fundamentally alter the management of logistics, monitoring of cargo, and interactions with clients.

Transitioning to modernized platforms has provided us with increased visibility across our supply chain, facilitating real-time insights from procurement to delivery. Potential disruptions are preemptively addressed through sophisticated analytics, optimized routing, and refined processes for enhanced cost-effectiveness. This enables us to adapt swiftly to market fluctuations and customer needs.

Read Full ESG Report

About us

Ocean shipping is our business

Fednav is a leading oceangoing bulk shipping company with a rich heritage and a reputation for mastering complex international routes since 1944.

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Our services

No matter how complex the route, we specialize in navigating the way safely and reliably. You can count on 80+ years of experience in dry bulk marine shipping, the largest fleet of ice-class bulk carriers, and 120+ owned and chartered vessels to successfully complete every voyage.