What's bothering us.
Maritime transport is essential to the world’s economy. Over 90 percent of the global trade is carried across ocean. It is, by far, the most cost-effective way to move en masse goods and raw materials around the world.
However, the maritime industry is also prone to rampant corruption.
Some corrupt practices include
Moreover, with globalization and increased connectivity, transnational criminal syndicates are expanding their illicit trafficking alongside growing legitimate trade flows.
The costs to the industry
For example, they are embedding illegal drugs into the legal movements of people and goods across borders. More drugs are now being transported using the same infrastructure and routes as legitimate trade.
At a macro level, corruption in the maritime sector constitutes a non-tariff trade barrier that is driving up trade costs and impeding economic and social development.
Corruption is damaging the reputation of the industry and driving away much needed investment.
At a micro level, for shipping companies, corrupt demands lead to delays, inefficiency, an unsafe working environment and other commercial consequences.
Corruption hinders trade, increases costs and, above all, has a profound and negative impact on ships’ captains and crew who come under pressure when rejecting demands.