Ocean Yield Integrity channel

Ocean Yields vision and core values are designed to cultivate and refine a corporate culture in which people deliver excellent results in a responsible manner.

Ocean Yield ASA integrity channel
Ocean Yield ASA’s vision and core values are designed to cultivate and refine a corporate culture in which people deliver excellent results in a responsible manner. As an active owner, Ocean Yield aims to do business with counterparts in the maritime industry that operate in an environmentally friendly, ethical, and socially responsible manner. Ocean Yield wants to be recognized as a company with high ethical standards in all phases of its operation.

Ocean Yield is a result oriented company with focus on investment opportunities within shipping and oil service. Our main strategy is to enter into long term contracts with solid counterparties, which will generate stable earnings and lay the ground for  attractive and increasing quarterly dividends to our shareholders. The Company has a defined Code of Conduct, and we have established an integrity channel to allow employees and others to raise concerns about improper activities or misconduct and report instances of potential non-compliance with our values without fear of retaliation. Such improper activities or misconduct may include HSE violations, harassment, insider trading, money laundering, fraud, bribery and kick-back arrangements, or other breaches of Ocean Yield ASA’s Code of Conduct.

Raising a concern
Ocean Yield ASA employees are encouraged to first discuss any compliance matters internally with their immediate supervisor or another member of senior management. If such measures are not deemed to be sufficient, incidents may be reported through the integrity channel.

 

Reports received through the integrity channel will initially be received and handled by an independent third party; the law firm PricewaterhouseCoopers (PwC). PwC is dedicated to maintaining high ethical standards and will handle all submissions with confidentiality. 

There are three possible ways to report a concern:

  1. Fill in a form
  2. Send an email to PwC: oceanyield.integrity@no.pwc.com
  3. Send a letter to PwC: PricewaterhouseCoopers, Att. Marianne Pilgaard, Postboks 748 Sentrum, N-0106 Oslo, Norway.

When raising a concern using one of these three possible ways, the person raising the concern may remain anonymous. However, it will be easier to conduct an investigation and other follow up activities will more likely be successful if the person reporting gives his/her identity. The person raising a concern may also remain anonymous towards Ocean Yield, giving his/her identity to PwC only.

After processing the reported concern, PwC will make an initial report to the Compliance Officer in Ocean Yield ASA who will then assess the report. If the report is in the nature of an allegation that requires investigation, an investigation team will be assembled and be under the supervision of the Chairman of the Audit Committee.
Unless the person reporting the concern has elected to remain anonymous to all parties, he/she shall receive a response within a reasonable period of time. This response will contain information about how the case has been treated and the outcome.

All incidents logged are formally closed by the Audit Committee in meeting.