Bahri, the Saudi Arabian state energy logistics and transportation company, has become a member of the Maritime Anti-Corruption Network (MACN), a global business network of over 110 companies working together to tackle corruption in the maritime industry
Tanker owner Bahri has underlined its commitment to advancing a culture of integrity in the maritime sector by joining MACN.
Bahri’s decision to join MACN supports Saudi Arabia’s ongoing commitment to zero tolerance of corruption at all levels, as directed in its Saudi Vision 2030 programme. A party to the UN Convention Against Corruption (UNCAC), the Kingdom aims to become a frontrunner in the international efforts to prevent and fight corruption. The country is keen on reaching the highest levels of transparency, governance, and accountability through adopting leading international standards and practices.
Commenting on the development, Bahri’s chief executive officer Abdullah Aldubaikhi said: “With transparency being a key pillar of its core values, Bahri has always upheld international standards and best practices across its operations. With our membership in MACN, we are reaffirming our resolve to work with all stakeholders in tackling bribery and corruption as well as promoting free, fair and open competition in the maritime sector. We are confident the collective efforts of MACN will accelerate the development of a safe and sustainable shipping and trade ecosystem.”
With the membership, Bahri joins the industry-led collective action initiative’s ongoing campaign dedicated to enabling fair trade through promoting compliance with anti-corruption laws and eliminating corrupt practices across the wider supply chain. The members of MACN are committed to ensuring strict compliance with all applicable antitrust and competition laws to facilitate procompetitive, transparent and efficient maritime business globally.
Bahri is the largest owner and operator of very large crude-oil carriers (VLCCs) in the world and the largest owner and operator of chemical tankers in the Middle East. It is headquartered in Riyadh with a global network of offices in Saudi Arabia, UAE, USA, and India. Through its five business units – Bahri Oil, Bahri Logistics, Bahri Chemicals, Bahri Dry Bulk and Bahri Ship Management – the company owns and operates a fleet of 90 vessels, including 43 VLCCs, 36 chemical tankers, six multipurpose vessels, and five dry bulk carriers, serving 150 ports worldwide.