ESG provides roadmap for dry bulk shipping says INTERCARGO’s first review
(Posted on 02/05/24)
The evolving Environmental, Social, and Governance (ESG) agenda is not merely a prerequisite for operating in the dry bulk shipping industry of the 21st century; it is a roadmap for thriving amidst challenges and securing sustainable success, says The International Association of Dry Cargo Shipowners (INTERCARGO).
Summarising INTERCARGO’s newly published ESG Review, Kostas Gkonis, INTERCARGO Secretary General advised that “a forward-looking attitude is certainly required when addressing key aspects shaping the future of maritime operations and the dry bulk shipping sector more particularly.”
“Dry bulk shipping should embrace the ESG agenda as a catalyst for innovation, resilience, and long-term success and to effectively communicate its impact on and commitment to sustainability,” he said.
By proactively addressing environmental and social challenges, fostering robust governance practices, and embracing a purpose-driven culture, the dry bulk shipping sector can navigate present and future complexities, while charting a course toward sustainable prosperity for societies around the world, the ESG Review declares.
INTERCARGO’s first-ever ESG Review identifies key steps that the dry bulk shipping sector is taking in the fields of environment, social and governance. Highlighting safety as both a key priority and an area of increasing success, the report points to significant improvements to dry bulk ship safety over the past decade, achieved alongside substantial growth in the global dry bulk fleet.
Dr Gkonis pointed out: “Seafarers' well-being tops the list of our priorities. Ensuring their safety and welfare is imperative for our sector’s future. People remain the cornerstone of our business model and success.”
Decarbonisation stands out as a paramount environmental challenge for ship operators in the dry bulk shipping sector, alongside other environmental concerns such as waste management, hazardous materials disposal, and ballast water impacts. With Non Governmental Organisation status at the International Maritime Organization (IMO), INTERCARGO is working proactively towards shipping’s 2050 net zero goals and in particular to deliver decarbonisation with safety. Dr Gkonis commented: “While technological uncertainties persist, embracing innovation is essential. Moreover, prioritising talent development and fostering a culture of innovation are critical for attracting and retaining top talent to meet the demands of the future.”
Dr Gkonis observed: “A clear sense of purpose, coupled with robust governance structures, is crucial for fostering a sustainable and resilient business model, ultimately striving for stronger, safer, and more sustainable dry bulk shipping practices.”
INTERCARGO chairman Dimitrios Fafalios commented: “INTERCARGO’s ESG Review highlights that ESG has become an increasingly important topic for all stakeholders in the dry bulk shipping community, such as investors, financiers, charterers, cargo owners, insurers, employees, and non-governmental organisations.”
Latest News
Positive results for Pacific Basin despite weaker freight market
(Posted on 15/08/25)Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, has announced... Read more
Swedish Club: Geopolitical volatility is new normal for marine insurance
(Posted on 14/08/25)The shipping industry must accept that geopolitical instability is now a permanent part of the operating... Read more
Diverse vessel and market portfolio provides resilience for Algoma
(Posted on 11/08/25)Algoma Central Corporation has reported its results for the three and six months ended June 30, 2025... Read more
Columbia: Compliance must be more than box-ticking exercise
(Posted on 11/08/25)The International Maritime Organization’s Maritime Safety Committee (MSC) has sent a clear message... Read more
DNV and RSI complete study on decarbonising short sea dry bulk fleet
(Posted on 07/08/25)Amid increasing pressure on shipping to achieve the IMO 2050 decarbonization targets, the Responsible... Read more
London P&I Club warns industry over incorrect FIBC loading
(Posted on 04/08/25)The London P&I Club has renewed calls on ship owners, operators and charterers to address potential... Read more
Columbia Group calls for overhaul of maritime training
(Posted on 04/08/25)Columbia Group is calling for urgent reforms in maritime education to address a growing shortage of... Read more
MIS launches as new global media platform
(Posted on 30/07/25)Maritime Information Services (MIS) has officially launched as a global media platform delivering daily... Read more
Russian and Ukrainian seafarers continue struggle with psychiatric fallout of war
(Posted on 30/07/25)Russian and Ukrainian seafarers continue to experience significant psychological strain following the... Read more
Noatum expands global footprint with inauguration of Shanghai office
(Posted on 30/07/25)Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, announced the official... Read more
