THE FULL SERVICE SHIPPING COMPANY Select Page INTRODUCTION The ForestWave Group Code of Conduct is based on our commitment to honesty, integrity and a diverse corporate culture. It contains an overview of key information, including the business principles and directives, which are applicable to management and employees. The Code of Conduct governs the business decisions and actions throughout the world and applies equally to corporate actions and to individual employees conducting ForestWave Group business. ForestWave Group (ForestWave hereafter) requires its employees to act to the highest standards of professional business conduct and according to applicable national and/or international law and regulations. ForestWave will monitor, evaluate and act on its performance under this Code of Conduct and encourages employees to report any (suspected) breach of this code immediately, ensuring at the same time that such reporting will not harm the employee. Any questions, breaches and/or guidance in respect of the Code of Conduct’s rights and obligations set out below should be raised with management (or one of its team members). 1. PEOPLE, SAFETY AND CONFLICT OF INTEREST 1.1 Social and safety performance ForestWave is committed to maintaining a working environment where there is mutual trust and respect and where everyone feels responsible for the performance and reputation of the company. ForestWave is committed to provide a safe working environment and safe practices for all employees. Thereto, ForestWave has set up a Safety Management System based on the ISM Code and other applicable national and international legislation. 1.2 Equal opportunities and discrimination ForestWave will ensure that its employment-related decisions are based on relevant qualifications, skills, performances and other job-related factors. ForestWave shall not tolerate unlawful discrimination nor any action, conduct or behavior that is humiliating, intimidating or hostile. 1.3 Conflict of interest Conflict of interest situations are to be avoided. Employees have the obligation to notify management (or one of its team members) whenever a relationship could create a conflict of interest. A conflict of interest occurs when an employee’s personal relationships, participation in external activities or interest in another venture could influence the employee’s decisions in conducting ForestWave’s business. 2. BRIBERY & HOSPITALITY 2.1 Bribery ForestWave condemns any act of bribery. Employees shall not offer, promise or give a bribe either directly or indirectly to a person in a position of trust whether in government or in private business (active bribery), nor shall they request or receive a bribe (passive bribery). Bribe is a financial payment or gift to another person in order to induce or reward a person for the improper performance of his function or activity and thereby to secure business or a business advantage. A breach of the expectation that a person will act in good faith, impartiality or in accordance with a position of trust counts as improper performance. 2.2 Gifts and hospitality Corporate gifts and hospitality (like meals, travel or entertainment) can be offered/received in order to develop and strengthen business relationships. They are only allowed if the expenditure is not excessive and consistent with the accepted legitimate business practice in the relevant country. ForestWave expects that employees have an open discussion about these items, in case of doubt. As a general rule, employees should refrain from offering/accepting gifts and hospitality to/from public/governmental officials. 3. COMPETITION 3.1 Fair competition ForestWave’s continued success depends on competing fairly and in full compliance with the applicable laws. Business relationships founded on trust and mutual benefits are vital to our success, and we will strive to develop mutual advantages by understanding the needs of our customers, contractors, suppliers and joint ventures. 3.2 Competition (antitrust) law Competition law protects free enterprise and prohibits behavior that limits trade or that restricts fair competition. These laws apply to every level of business and combat illegal practices like price-fixing, market-sharing or behavior that aims to achieve or maintain monopoly. No employee shall engage in price fixing, allocation of market or customers, or similar illegal anti-competitive activities. As a general rule, the employee is to avoid customer-related discussions with competitors. If the employee is at a meeting or conference where competitors are also present, the employee is to object to the discussion of any anti-competition information and leave the meeting if the discussion continues. The employee is to make sure that employee’s departure is correctly noted in the minutes of the meeting and that management (or one of its team members) is informed immediately. 4. CONFIDENTIAL INFORMATION, INFORMATION TECHNOLOGY AND SOCIAL MEDIA 4.1 Confidentiality Employees must maintain the confidentiality of proprietary information entrusted to them by ForestWave or its customers and suppliers, except when disclosure is authorized in writing by the head of department, or required by law and regulations. Proprietary information includes all non-public information that might be of use to competitors or harmful to the Group or its customers or suppliers, if disclosed. 4.2 Personal use of information technology (IT) IT and communication technology include, but is not limited to, personal computers, desk top computers, mobile and desk phones. A limited use of ForestWave’s IT and communication technology for personal use is generally acceptable. IT and communication technology should not be used in any way that is unethical or illegal, or that could embarrass, misrepresent, or give an unjust or unfavorable impression of ForestWave or its business affairs, employees, suppliers, customers, competitors or stakeholders. 4.3 Social Media Employees shall use social media for their personal social communication only. Disclosure of project information, commercial information, operational activities or confidential information is not allowed and can only be communicated through ForestWave’s official (social) media channels. 5. ENVIRONMENT ForestWave has established and operates in accordance with an environmental management system for all her vessels based on national and international legislation and industry approved standards like International Convention for the Prevention of pollution from Ships 1973/1978 (MARPOL) and Maritime Environment Protection Committee (MEPC) of the international Maritime Organisation (IMO). ForestWave has high standards for design and maintenance of its vessels and for the training of its crew, to ensure minimal environmental impact through the operation of its vessels and execution of projects. The commitment to minimize environmental impact is required from all our employees. ForestWave Group Board of Directors Office Groningen Rozenburglaan 9 9727 DL Groningen The Netherlands info@forestwave.nl chartering@schulte-bruns.com +31 (0) 88 050 3000 Office Goes Industriestraat 14F 4462 EZ Goes The Netherlands chartering@schulte-bruns.com +31 (0) 88 050 3060 Office Newcastle Metropolitan House Longrigg Road, Swalwell NE16 3AS Newcastle upon Tyne United Kingdom chartering@schulte-bruns.com +44 (0) 191 2449 600 Office Vigo Rua Marques de Valladares 14 Planta 3 36201 Vigo – (Pontevedra) Spain chartering@schulte-bruns.com +34 (0) 674 14 8281 Fleet Trade lines Company Vacancies Objectives Chartering Contact us