Essam Bella, managing director of Clarksons Dubai, has been accused by Egyptian authorities of bribing a state-owned business in exchange for shipping tenders, according to local reports.

Egyptian media reported last week that the country's Administration Control Authority (ACA), an entity tasked with rooting out corruption in the country’s corporate sector, allegedly caught Bella giving EGP 40,000 ($2,500) to Mohamed Zaki Fawzi.

Essam Bella of Clarksons Dubai Photo: Clarksons

Fawzi is chairman of state-owned El Nasr Company for Coke & Chemicals, Egypt’s largest metallurgical coke and chemicals producer.

Bella is alleged to have given bribes to Fawzi for two tenders to ship coal from Canada and the US to Al Nasr’s plants in Egypt.

News reports quoted the ACA as saying that both Fawzi and Bella were arrested and the matter has now been referred to Egypt’s State Security Prosecution Office for further investigation.

In a statement to TradeWinds, Clarksons said it was unable to comment in detail at this stage.

"Clarksons has been made aware of media reports in Egypt and is now immediately investigating the matter,” the statement said.

Best practice

“Clarksons has clear and strict best practice business conduct policies. The situation at present is unclear and at this point Clarksons is unable to comment further.”

TradeWinds has been unable to contact Bella directly. Calls to his mobile phone and emails to his work address have gone unanswered.

The raid and arrests are said to have taken place on 24 December.

Fawzi was immediately fired from his job by the Egyptian governments Holding Company for Metallurgical Industries.

Bella was instrumental in establishing Clarksons' presence in Dubai in the early 2000s. It has since grown into Dubai’s largest shipbroking shop, and is the fourth largest in the Clarksons Platou portfolio.

The office handles the Middle East, India, Egypt and Morocco, focusing specifically on broking services in dry cargo, specialised products and the offshore markets.

Bella is also a member of the board of the Emirates Maritime Arbitration Centre.