At BSM, we conduct business with a high-level of integrity which allows us to deliver services to our customers that are built on trust and accountability. Respecting human rights and following regulations is how we demonstrate our values and principles in the communities we belong to.integral to the success of that strategy.
Commitments
We do only responsible business and do not tolerate unethical practices.
Priorities
Sustainable Development Goals
Strategic Goals
Our Ethical Ship Operations Policy outlines the responsibilities of all employees, management, and any third parties representing us. We encourage the reporting of unethical situations, foster open and honest communication, and guarantee no retaliation for speaking up.
We assess our clients and business partners before getting into business with them to ensure their business practices are in line with our ethical standards. According to their risk rating we either reject business or reevaluate on an annual or biennially basis. The management board is involved when clients refuse to provide the necessary information. We expect our business partners to follow the principles as per our anti-bribery and business ethics policy and our ethical operations manual when providing goods and services or acting on our behalf.
Every employee is held accountable for safeguarding human rights and is required to undergo frequent training on topics such as compliance, anti-corruption, and ethical behaviour. We work together to ensure ethical decisions are taken at all levels in line with international and national laws and regulations.
Training is a cornerstone of our approach. Office staff are trained using the MACN training format, 'Ethical Ship Operations – Anti bribery and corruption' course. As part of our mandatory training requirements, employees in critical roles and positions are obliged to do a refresh of the course at regular intervals. In 2024, 347 shore employees completed the course. Our internal business audit team verifies that all staff have completed the training on iLearn.
The Captain’s Edition of the MACN 'Ethical Ship Operations – Anti bribery and corruption' was revised in 2024. The updated training entitled “MACN – PILOT REVISION (2024) Stand your Ground, Be a Leader” is now available onboard our ships for all seafarers, via the Competence Management System (CMS).
Operational Policies and Procedures
The maritime sector is transforming with new cutting-edge technologies changing the way we work. BSM is investing considerably in digitalising our processes to improve our employees’ work and customers’ experience.
We develop technology powered by data without jeopardising our digital ethics, including our users’ privacy, security, and accessibility. To do so, we prioritise cybersecurity protection and risk management systems for our offices and ships.
We are one of the first international ship managers to be ISO 27001 certified. By incorporating ISO 27001 standards into the our policies and procedures, we protect the assets and data of our customers and partners beyond the legal requirements. Recognising the critical role of employee education and awareness, we invest in comprehensive training programmes and campaigns.
In 2024, we integrated cybersecurity training into the onboarding process for new employees. The training includes features to identify vulnerabilities to phishing attacks, improve our resistance to such threats, and assess associated risks. The platform offers engaging, up-to-date training on social engineering threats, conducts quarterly phishing simulations, provides specialized training for high-risk users, and evaluates our security awareness culture annually.
All existing BSM shore employees receive annual cybersecurity refresher trainings and quarterly phishing simulations to enhance their awareness and readiness. As of the end of 2024, our Cybersecurity Risk Score was 45, on a scale from 0 to 100, after incorporating several parameters and metrics (i.e. phishing simulations scores).
BSM has a vast network of over 6,000 suppliers that provide services to our offices and vessels. Consequently, we are mindful of how our purchasing power can influence environmental and social responsibility upstream and downstream our value chain.
Our Smart Procurement initiative has transformed how we manage procurement by integrating all processes into a single, data-driven platform. This not only improves cost-efficiency and profitability for shipowners but also significantly reduces our environmental footprint.
Following the foundational steps taken in the past to align onboard quantities with actual needs, such as implementing demand forecasting, auto-transactions, and guided buying, we built on this momentum in 2024 with a more strategic focus on logistics optimization.
In 2024, we initiated comprehensive freight forwarding analyses for all consignments and shared the results with all SMCs. These insights enabled us to consolidate shipments, optimize logistics costs, and make better use of volume efficiencies. As a result, we have significantly improved our ability to select the most economical and efficient modes of freight transportation.
GenPro, a joint venture of BSM and Columbia Shipmanagement (Members), aims to improve sustainability in the shipping industry and create a network of suppliers that prioritise environmental and social responsibility. With a focus on transparency and efficiency, GenPro helps its members make better procurement decisions.
