Modern Slavery Act statement

Modern slavery and human trafficking statement

Introduction

Simpson Spence Young is committed to ensuring acts of modern day slavery and human trafficking does not exist within its business and supply chains. We acknowledge responsibility to the UK Modern Slavery Act 2015 and will ensure transparency within the organisation and with suppliers to the organisation.

Our business

SSY is the world’s largest independent shipbroker. We are a privately owned partnership with over 500 employees operating across 24 offices worldwide.

We have experts working in all areas of shipbroking: dry cargo chartering, tanker chartering, ship sale and purchase, gas, chemicals, agency and towage. In addition we have an in-house derivatives brokerage that covers freight futures, iron ore, coking coal, and steels.

Our Research Department gathers and analyses global data and turns it into actionable information for the whole of Simpson Spence Young and its many clients who wish to manage risk and make better informed decisions.

Our supply chain

Our worldwide supply chain consists of support functions for our staff including professional services, IT, communications, travel, accommodation, office and property services.

Our policies on slavery and human trafficking

Simpson Spence Young has zero tolerance to slavery and human trafficking and is committed to acting ethically and with integrity in all our business dealings and relationships across the world.

This commitment includes maintaining internationally-recognised human rights. We expect all those in our supply chain to comply with our values.

It is a key principle of Simpson Spence Young’s code of conduct that employees, business partners and agents of the Group comply with all relevant laws and regulations. The Group takes reasonable and practical steps to ensure that all applicable legislation and regulations are complied with, including labour laws. Our HR policies and procurement procedures reflect UK law.

Next steps

We are reviewing the effectiveness of the current arrangements in order to improve our understanding and awareness of the risks of modern slavery and human trafficking in our supply chains and in our business, and to mitigate these risks.

Where necessary, we will implement new procedures and develop training for the relevant members of staff. All Directors and Senior Managers have been briefed on the subject.

We will continue to review the effectiveness of the steps we have taken to ensure that there is no slavery or human trafficking in our business or in our supply chain.