A milestone year of connection, change and progress
Dear readers,
As we look back on 2024, I feel incredibly proud of what we have achieved together. This year marked a special milestone: 30 years of MF Shipping Group. We celebrated this anniversary not only at our office in the Netherlands but also with our teams in the Philippines and Turkey, recognising the heart and soul of our company: our people.
2024 also reminded us how complex and unpredictable the world can be. Geopolitical tensions, conflict and economic uncertainty have affected many regions, including places where our seafarers live and work. These developments impact not only global trade but also the everyday lives of many of our colleagues and their families. In times like these, our values, our connection and our professionalism matter more than ever.
Despite these challenges, we continue to move forward. I had the honour of being appointed President of the European Community Shipowners Associations (ECSA), a role I accept with gratitude and a strong sense of responsibility. This achievement would not have been possible without the continued trust of our industry partners, the loyalty of our colleagues, and the spirit of collaboration that defines our company. Thank you all for making this possible.
This new role naturally comes with responsibility. To create space for it, we made internal changes to strengthen our structure and support our leadership team. We also established a dedicated Sustainability Department to help us stay focused and aligned with our mission.
In 2024, we proudly welcomed the arrival of the newbuild tankers Thun Resource and Thun Reliance, marking a significant step forward in our fleet’s modernisation. At the same time, we bid farewell to Thun Gothenburg and launched our refreshed website. A platform that truly reflects who we are and what we stand for: our people, sustainability, and continuous innovation.
The year was also marked by many dockings across our fleet, ensuring continued safety and operational excellence. Unfortunately, we had to report one Category 3 incident (mooring safety), which we take very seriously and from which we have learned valuable lessons.
At the same time, we remain firmly committed to supporting the wellbeing of our seafarers, advancing digitalisation and improving how we manage our Environmental, Social and Governance (ESG) responsibilities. These are not just trends — they are essentials for a stronger and more resilient future.
As we close this special year, I want to thank each and every one of you. Whether you are at sea or ashore, whether you work with us as a client, partner or colleague, you are part of the MF Shipping Group story. Together, we are not only sailing into the future, we are shaping it.
Karin Orsel
CEO
About MF Shipping Group
Founded in 1994, MF Shipping Group is a global ship manager based in the Netherlands. For 30 years, we have built a solid reputation for managing a wide variety of third-party owned vessels, ranging from product and chemical tankers to multipurpose vessels, specialised cement carriers, self-unloaders, and roll-on/roll-off vessels, with deadweight tonnage between 3,000 and 18,000 tonnes.
We are committed to creating real value for our partners by offering smart, efficient and responsible ship management. We do not just manage vessels. We help our clients move forward.
Our Mission
Driving change to achieve sustainable and future focused ship management with care for people and the environment. We move vessels and cargo all over the world.
Our Vision
Moving forward as a leading partner in safe and sustainable ship management.
1 RoRo
22 Tankers
27 Dry Cargo / Cement Carrier
Aboard
Ashore
General Facts & Figures
Our commitment to move forward
Our mission, vision and core values are the foundation of MF Shipping Group. They guide our daily work, help us navigate changing business cycles, and steer us towards long-term goals.
We fully comply with all applicable international laws and regulations — that goes without saying. But we go further: we operate in line with Environmental, Social and Governance (ESG) principles and actively support the United Nations Sustainable Development Goals (SDGs).
Our corporate strategy provides a clear direction for the years ahead.
It is built on three key pillars that connect our ambition with our actions. These pillars shape how we grow, how we lead, and how we contribute to a safe, sustainable and inclusive future. They reflect who we are today — and where we want to be tomorrow.
Below you’ll find the core elements of our strategic framework.
Three strategic pillars
The ESG principles guide all our strategic objectives and business decisions
Our mission, vision and core values are the foundation of our strategy
Safe & Sustainable
We aim for zero incidents and 100% safety, leading the way to a sustainable maritime future.
At MF Shipping Group, we proactively address the environmental challenges facing the maritime industry. Sustainability and safety are integral to our operations, influencing everything from ship management to office practices. Beyond simply complying with regulatory requirements, we strive to set a standard in safety and environmental stewardship. We carefully assess both the immediate and long-term environmental impacts of our operations and continuously evaluate opportunities for improvement.
Our people/our culture
Our people are our strength, driven by a culture of care, safety and inclusion.
At the core of our operations is a deep respect for human rights and an unwavering commitment to fostering a safe, positive, inclusive, safe and equitable working environment. We prioritise the wellbeing of our colleagues, adhere to international human rights standards and strictly oppose forced and child labour. Our people-focused culture, encapsulated in our core value of ‘unique family’, drives us to maintain an impeccable safety record and promote diversity and inclusion. With a zero-tolerance policy on discrimination and harassment, and a commitment to equal opportunities for all, we strive to create a positive workplace where every individual is valued and can thrive, contributing to our collective success as a socially responsible leader in the maritime industry.
Digital Driven
Digitalization enhances our safety, sustainability and efficiency.
Under our Digital Driven strategic pillar, our vision is to prioritize the safety and well-being of our people, while leveraging digitalization to drive enhanced safety, sustainability, and efficiency. By harnessing the power of data, we can measure, understand, and continuously optimize our operations, ensuring greater effectiveness and performance across all levels.
Environmental
Protecting the maritime environment /Ecological impact
Other sustainability projects
Governance
Under the leadership of Theo Dik (CFO) and Karin Orsel (CEO), MF Shipping Group remains fully committed to ethical behaviour and strong corporate governance. As we celebrate our 30th anniversary in 2024, these values continue to be at the heart of our culture and long-term sustainability strategy. We focus on transparency, accountability, and integrity to protect the interests of everyone involved with our company.
Beyond meeting industry regulations, we align with Environmental, Social and Governance (ESG) standards that reflect our commitment to responsible and transparent business. While MF Shipping Group is not required to report under the Corporate Sustainability Reporting Directive (CSRD), we already apply many of its principles to ensure we remain ahead of the curve.
Looking ahead to 2025
At MF Shipping Group, our focus is not on the number of ships we manage but on how well we manage them. In the years ahead, our strategy is centred on building a stronger foundation. This means delivering operational excellence, ensuring our vessels perform at their best, and above all, creating a safe and sustainable working environment for everyone, both at sea and ashore.
We continue to invest in smart systems and technology that simplify processes, support our teams, and optimise the way we work. New tools like our Crew System and Planned Maintenance System will boost efficiency, reduce manual tasks, and enable better decision making across the fleet. These advances will also strengthen the connection between sea and shore, which is a key focus for early 2025, alongside increasing compliance with NIS2 regulations.
The true strength behind everything we do is our people. No ship sails without them. That is why crew wellbeing, inclusion, safety, and leadership remain at the heart of our approach. In 2025, we proudly launch Dare to Care as our core theme – a clear call to look after ourselves, each other, and the environment we operate in. This theme is based on insights from our annual survey and reflects what matters most to our people. We will also reinforce the working group dedicated to driving this initiative forward.
From supporting newbuild projects to navigating change together, we will keep growing as one united team. We will put Diversity, Equity and Inclusion at the forefront, support continuous learning and development, and foster a culture where everyone feels respected, valued, and heard.
Looking ahead, we are determined to keep strengthening our strategies and reach our goals. Together, we are moving forward towards a successful 2024 and beyond.
Social
Creating a safe, inclusive and positive place to work
At MF Shipping Group everything begins with our people. We are committed to creating a workplace where everyone feels safe, respected and supported both at sea and ashore.
Respect for human rights is at the heart of how we work. We follow international labour standards and have zero tolerance for discrimination, harassment, forced labour and child labour.
We believe in equal opportunities for everyone and are proud of the diverse and multicultural teams that make up our organisation. Our strong people focused culture, what we call our ‘unique family’, helps us stay safe, support one another and work as one team.
Employee health and wellbeing
Looking after our people means more than just physical safety. It’s also about mental wellbeing, a strong safety culture and job satisfaction. At MF Shipping Group, we are fully committed to zero incidents, both ashore and at sea.
To strengthen our safety culture, we introduced the SafeMind survey. In May 2024, we launched this ongoing feedback survey focusing on safety and wellbeing. The initial results show we score highly on trust, which is a strong foundation for our culture. At the same time, there is clear room for improvement in the areas of care and learning. These are key pillars where we are now directing more attention and effort.
The findings from this baseline survey highlight that while trust is a strength, care and learning still can grow. That’s why ‘Dare to Care’ has become our central theme for 2025. We are working to create the essential conditions for the next level of collaboration — where giving feedback, speaking up, and discussing dilemmas become a normal and safe part of everyday work. The next SafeMind survey is planned for June 2025, and we look forward to tracking our progress.
Office focus: leadership and team wellbeing
To better understand how our office colleagues are doing, we run short and simple surveys through EverybodyFrank. These surveys cover safety, stress levels, job satisfaction, and overall wellbeing. The results are discussed monthly within teams to encourage open and honest conversations about what is working well and where improvements are needed.
Our wellbeing dashboards help track progress over time, enabling us to take joint action to improve the work environment. Overall, scores align with industry benchmarks, but there are differences between departments. In particular, some teams have experienced unrest due to staff turnover, which we are actively addressing.
In 2024, we introduced the Facet5 leadership tool, a personality assessment that helps individuals and teams better understand behaviour, motivation, and work preferences. It fosters self-awareness and encourages colleagues to appreciate each other’s strengths. We began with our Board and Management Team, and throughout 2024 and 2025, Facet5 will be rolled out across the entire organisation. This initiative supports improved teamwork, stronger communication, and more effective leadership across the company.
Together again: Company Days 2024
In 2024, we had the pleasure of coming together in person for the first time since the pandemic, during our Company Days in the Philippines, Turkey and the Netherlands. These gatherings were a special opportunity to reconnect across borders, share experiences and reflect on what it means to be part of MF Shipping Group.
A true highlight was celebrating our 30th anniversary — a milestone we marked with pride and gratitude. The events were more than a celebration; they were a powerful reminder of our shared purpose and values. Leadership and safety were central themes throughout the programme, sparking meaningful conversations and collective learning.
The Company Days gave us the chance to strengthen bonds, honour our people and look ahead, together, to the opportunities and challenges on the horizon. Because we believe a safe, healthy and inclusive work culture does not happen by chance. It is something we build, nurture and grow every day, together.
Introduction video of the Company Days.
Diversity, equity and inclusion
At MF Shipping Group, we are strong advocates for diversity and equity in the maritime industry. We believe in the power of different perspectives and welcome people from all backgrounds. Today, 41,5% of our office team are women; including in roles traditionally dominated by men, such as technical and marine superintendents. The office tells a different story than at sea: gender diversity is clearly more balanced onshore, which shows what’s possible when the right conditions and opportunities are in place.
In November 2024, our CEO Karin Orsel was awarded the IMO Gender Equality Award — an international recognition we are incredibly proud of. This honour reflects not only her personal leadership, but also our shared values as a company.
At sea, the picture remains more challenging. Just 1.2% of our seafarers are women. That is in line with the global statistic: only around 2% of technical maritime roles are held by women. Attracting and retaining female seafarers is difficult and requires more than good intentions. It demands active, ongoing commitment, inclusive recruitment practices, strong role models, and clear pathways for development. That is why we are investing in the future. We pay close attention to gender balance in our cadet programmes, where currently one in three/four trainees is a woman. A small but meaningful step forward.
We know that diversity, equity and inclusion (DEI) are not one-off goals. They require continuous effort and accountability. Our ambition is to create a safe, respectful and inclusive workplace for all. To help drive this, we have set up a dedicated DEI working group. These themes also took centre stage at our recent Company Days, where we addressed critical issues such as bullying and harassment. We reaffirmed our zero-tolerance policy and our commitment to a workplace culture based on respect, dignity and equality. On shore and at sea.
With sixteen nationalities represented across our teams, our diversity is one of our greatest strengths. But true inclusion takes work, and we are committed to that journey, together.
Diversity
2023: 1,4
Community involvement
Since Typhoon Haiyan struck Palompon City in 2013, home to many of our seafarers, we have been committed to supporting maritime communities in times of need. Through the MFG Seafarers Fund, we have provided help during natural disasters, the COVID-19 pandemic and other crises.
Over time, it became clear that the needs of seafarers and their families go far beyond emergency aid. That is why in 2025 we will launch a new charitable foundation with a broader and more future-focused mission. This initiative is designed to better support the wellbeing, education and resilience of seafarers around the world.
In addition to our global efforts, we also support local initiatives. We sponsor water sports events, festivals and contribute to food banks. As a member of Eems Dollard Regio (EDR), we actively support maritime education and cross-border collaboration in the northern Netherlands