Moving Forward together

Our course in Safe and Sustainable Ship Management

Overview 2023

Dear readers,

It is with great pleasure that I introduce this publication, which provides an insight into our maritime world as we work together towards a sustainable future. Our commitment to the highest standards drives our relentless efforts to reduce our carbon footprint and promote the wellbeing of our seafarers. Environmental, Social and Governance (ESG) issues are at the heart of our strategy at MF Shipping Group.

In recent years, our industry and our company have faced numerous challenges, including a global pandemic, an energy crisis, complex geopolitical situations and, crucially, the energy and climate transition towards the Fit-for-55 target by 2030 and the net-zero target by 2050. As a ship manager, we are working closely with our partners, the shipowners  and with (inter)national associations to address these industry challenges and optimise our fleet for maximum fuel efficiency, while pursuing sustainable, long-term solutions. 

Our seafarers and office staff are the lifeblood of our business, and their safety, health and wellbeing are always paramount. Retaining our dedicated and professional team, as well as attracting new talent, is a top priority and essential to the success of our work.

I warmly invite you to continue exploring MF Shipping Group’s journey as we proudly celebrate our 30th anniversary this year. My deepest gratitude goes to our dedicated employees for their relentless efforts and to our valued partners for their steadfast trust. Our partners are greatly valued, and we are determined to create value on their behalf. Applying excellent solutions and service, we manage vessels and cargo in the most efficient and sound manner possible! Together, we are shaping a prosperous future—not only for our industry, partners and company but also for our planet and for future generations.

Karin Orsel

CEO

About MF Shipping Group

50
Vessels
1
Office
79
Office staff employees
900
Seafarers (Approx.)

Established in 1994, MF Shipping Group is a leading global ship manager headquartered in the Netherlands. We have built a strong reputation for expertly managing a diverse fleet of third party owned vessels, including product and chemical tankers, specialised carriers and self-unloaders, ranging in size from 3,000 to 18,000 dwt. Our commitment is to create significant value for our partners by delivering outstanding solutions and services, and by managing vessels and cargoes with unrivalled efficiency and responsibility.

Specialising in Short Sea Shipping, we offer comprehensive expertise in crew management, technical services, financial oversight, quality assurance and project coordination, covering newbuilding and conversion/refit projects. In the tanker segment, we are a leading force in Europe, where our tankers serve the world’s top 10 fuel and energy companies.

Our commitment to excellence is reflected in our relentless focus on quality, safety and sustainability in all our operations. At MF Shipping Group, we are committed to innovation and forward-thinking strategies. Our motto, ‘Moving Forward’, epitomises our proactive approach to navigating the dynamic maritime landscape and driving the future of our industry.

Our Mission: Driving change to realise sustainable future-focused ship management – with care for people and environment – moving 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

12 Cement carriers

15 Dry cargo

Aboard

0
Seafarers (Approx.)
0%
Women
0%
Men
0
Average age
0
Nationalities

Ashore

0
Employees
0%
Women
0%
Men
0
Average age
0
Nationalities

General Facts & Figures

0
Port calls
0
Spills
0
Portstate Controle Inspections
0
External navigational audit + external class audit/inspection
0
Incident cat. 3
≈0
Sailed miles
0
Flag states
0%
Retention rate

Our commitment to move forward

At MF Shipping Group, we are committed to evolving our initiatives, refining our metrics and maintaining our Environmental, Social and Governance (ESG) principles. This overview provides an insight into our ongoing efforts.

Our mission, vision and core values serve as the foundation of MF Shipping Group’s operations, guiding us through various business cycles and towards our goals. We operate in line with ESG principles and we are committed to supporting the United Nations Sustainable Development Goals (SDGs), focusing on six specific goals where we can have impact.

Guided by ESG principles and aligned with the Sustainable Development Goals (SDGs), we have defined three strategic pillars that will guide our progress in the coming years. These pillars are crucial not only to our business success but also to our commitment to fostering a sustainable, secure and equitable future. We are dedicated to creating a safe and positive working environment. Following our recent reassessment, our list of material issues remains unchanged, with emissions reduction and employee health and wellbeing continuing to be at the forefront of our priorities.

Three strategic pillars

Safe and Sustainability

Safe and Sustainability

Prioritizing safety and sustainable operations, including climate action and energy transition.

Our People, Our Culture

Our People, Our Culture

Committed to a safe, positive and inclusive workplace that promotes employee wellbeing.

Digital Driven

Digital Driven

Digitalization enhances our safety, sustainability and efficiency.

The ESG principles guide all our strategic objectives and business decisions

Environmental

Environmental

We ensure our business is aligned with a net zero Green-House Gas (GHG) emission agenda and manage the impact of our operations on the ecosystem and biodiversity.

Social

Social

We hold true to the principle that “our people are our greatest strength” and aim to empower them while fostering a safe, positive and inclusive workplace.

Governance

Governance

Our business is based on ethical practices, accountability, transparency and compliance.

Our mission, vision and core values are the foundation of our strategy

We are a unique family

We are driven by passion

We realise customer excellence

We work safely & sustainably

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

prioritizing safety and sustainable operations, including climate action.

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.

A fundamental component of our sustainability strategy is our proactive engagement with partners, shipowners and their customers. We recognize that achieving sustainability requires substantial investments on their part, which is why we closely align our initiatives with their needs and aspirations.
Establishing strong, long-term relationships is crucial to our mission, and we are committed to delivering outstanding benefits to our partners. Through our comprehensive approach — providing expert advice, innovative solutions and superior services — we ensure the efficient and responsible management of ships and cargo. This commitment not only enhances our operational effectiveness but also reinforces our dedication to fostering a sustainable future within the maritime sector.

We ensure strict compliance with the International Safety Management (ISM) Code, and we hold valid safety management certificates. Our safety management system is fully compliant with SOLAS, STCW, MARPOL, MLC, ISO 14001 (for tankers) and TMSA Level 3 (for tankers). Employee feedback on safety improvements is actively sought at monthly meetings and we monitor the Injury Incident Rate (IIR) to continually assess and improve safety performance. Both our shipboard and shore-based management teams are committed to safety and environmental excellence.

Everyone in our organisation is dedicated to safe operations and HSSE (Health, Safety, Security and Environmental) excellence. We promote and evaluate understanding through a variety of initiatives, including:
– Comprehensive safety induction and familiarisation programmes
– Regular ship and office visits
– Robust computer-based and on-board training
– Informal meetings and staff appraisals
– Insightful corporate seminars

Senior management leads proactive safety campaigns to promote a strong safety culture. Our near-miss reporting programmes help to mitigate operational risks and best practices are shared through our online portal and newsletters.

Key Performance Indicators (KPIs) and targets are reviewed quarterly at management meetings, shipboard meetings, company events and newsletters. If targets are missed, corrective action is taken, and departmental managers are held accountable for their targets.
We prioritise both physical and psychological safety in our operations. Physical safety encompasses strict adherence to international maritime standards, along with regular inspections and drills, all aimed at achieving zero incidents and spills. Equally important is psychological safety, which focuses on fostering a respectful, inclusive and supportive work environment. We are committed to preventing discrimination, bullying, harassment and unacceptable behaviour, with a goal of zero incidents of misconduct.

To support this commitment, we provide access to an independent external confidential counsellor, ensuring that all employees have a safe and confidential avenue to report concerns. Since 2024, we have implemented a structured approach to safety culture through anonymous surveys, enabling us to continuously assess and enhance our workplace environment.

Goals Outcome
Strive for zero incidents 2023: 1 incident Category 3.
Develop a safety culture score Conduct the baseline survey in Q1 2024

Efforts to reduce emissions from our tanker and general cargo fleet are central to our commitment to sustainability. Fuel monitoring and digitisation of systems are being implemented in cooperation with the shipowners. For example, flow meters, torque meters and energy monitoring systems such as Energy Eefting and Cetasol (required by our partner Erik Thun AB) are being installed in the fleet. The fleet will also be digitised in the short to medium term (from paper to electronic logbooks).

Goals Outcome
Reduction of GHG emissions goals
2025: 2% reduction
2030: 20%
2050: 100% reduction		 Ongoing
With shipowners
Carbon Intensity Indicator targets:
2024: 100% of vessels achieve a C rating or better		 Achieved
Read more

Protecting the maritime environment /Ecological impact

The number of oil spills reported in 2023 is zero. From vessels reporting (Near Misses and NCR Internal), this is registered as a KPI, which is documented in Synergy.

Goals Outcome
Zero significant oil-spills or contained spills 2023: 0- spills

The fleet has ballast water systems installed. The target of 100% installation of ballast water systems in the fleet has been achieved in 2024. In addition, each vessel has a ballast water management plan on board in accordance with IMO Resolution A.868(20) to minimise the transfer of harmful aquatic organisms and pathogens during ballast water exchange. This plan is applicable to both national and international ballast water exchange requirements.
Any deficiencies in the ballast water systems will be reported and identified, with a target of zero deficiencies

Goals Outcome
100% Implementing ballast water system Achieved in 2023

The transition from paper logbooks to electronic logbooks will allow further analysis of waste data, which will help to determine actions. The first step is to implement electronic logbooks across the fleet and monitor all waste streams in 2025/2026 as a baseline. This will be followed by visualisation of the waste stream data on board and definition of actions and targets for 2030 and 2035. Transition from paper logbooks to electronic logbooks will enable further analysis of the waste data, which will help to determine actions. The first step is to implement the electronic logbooks throughout the fleet, to monitor all waste streams in 2025/2026, as a baseline. Subsequently, we can visualise the waste streams data on board vessels and determine actions and goals for 2030 and 2035.

Other sustainability project

Research is being conducted into various antifouling options for vessels, focusing on the effectiveness and environmental impact of the various antifouling solutions. The aim of this research is to identify the best methods to prevent biofouling while minimising environmental damage.

Batteries on board vessels can improve energy efficiency. Batteries can store excess energy generated by the vessel’s systems, for example during periods of low power demand, and release it when needed. This energy management helps to optimise fuel consumption and reduce overall energy waste. The battery packs will be installed on the existing dry cargo vessels. Newbuildings will have the battery packs integrated from the start of their service life.

Newly delivered vessels will be equipped with Eco-drive systems. Existing vessels will be considered for retrofitting with Eco-drive systems. The Eco-drive system is an adaptive propulsion and fuel optimisation software. The software automatically and dynamically determines the most energy efficient propeller pitch/rpm settings to generate the thrust required to maintain the desired speed. The Eco-drive functionality is expected to deliver a 10% reduction in fuel consumption.

Our commitment to sustainability extends to our office environment, which boasts an A++ energy rating and all-electric heating and cooling systems. Features such as automatic solar shading, thermally efficient glazing and automatic lighting controls maximise energy efficiency. Annual electricity consumption is monitored via the CENSO Live platform. As a result of these building improvements, electricity consumption will decrease by 11% from 2022 to 2023. Another future project is the installation of LED lighting throughout the building, which will be phased in over the next few years.

Unit 2022 2023
Total electricity consumption MWh 310 277
Water consumption m3 271 255
Electricity savings % 11
Water savings % 6

We prioritise electric and hybrid vehicles in our fleet, supported by on-site charging points. In addition, office staff have the option of working from home to minimise commuting emissions.

To minimise our environmental impact, we have eliminated plastic water bottles in favour of reusable alternatives. Rainwater harvesting systems provide water for toilet flushing, thus conserving water resources.

Social

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.

To continually improve organisational performance, we launched an ongoing employee satisfaction survey in May 2024 for both seafarers and shore personnel. Office staff also participate in short, frequent surveys about their work experience, providing regular insight into their happiness, stress levels and passion for their roles. Dashboards allow employees to monitor their wellbeing and satisfaction, and facilitate discussions on joint actions to improve the working environment. Survey results and follow-up actions are shared and openly discussed with employees.

Goals Outcome
Implement an employee satisfaction tool across all sea/office employees (sea/office) by Q1 2024. Set a baseline satisfaction score Tool introduced in 2024 for setting baseline
Zero complaints of bullying/harassment 1 case reported
Maintain at least a 90% retention rate for seafarers 2023: 98%

We fully support diversity and equity in the shipping industry. At MF Shipping Group, women make up 40% of our office staff, including traditionally male roles such as technical and marine superintendents. Unfortunately, due to the limited availability of women in technical roles globally (2%), only 1.4% of our seafarers are female, a figure which has decreased since we lost the management of a cruise ferry.
We welcome people from all backgrounds and recognise the challenge of finding skilled workers in today’s labour market. Our diverse workforce, representing more than sixteen nationalities, is a key asset. We believe that combining a passion for shipping with a variety of skills and experience strengthens our organisation. We strive to place the right person in the right role, ensuring a perfect fit for both the individual and our organisation.
Recognising the importance of continuous improvement in Diversity, Equity and Inclusion (DEI), our guiding principle ‘Moving Forward together’ underscores our commitment to fostering an inclusive workplace. We have established a dedicated working group to drive these efforts. DEI will be a key focus of our Company Day, where we will address critical issues such as bullying and harassment, and will reinforce our zero-tolerance policy.

Goals Outcome
Raise female seafarer representation to 2-5% by 2030 2023: 1,4

In response to maritime and natural disasters, including Typhoon Haiyan in November 2013, which devastated Palompon City in the central Philippines, where many of our crew and their families live, we established the MFG Seafarers Fund. This fund is dedicated to supporting individuals facing hardship, whether due to local or global crises such as COVID-19, conflict or war.
We are actively involved in the community through a variety of fundraising and sponsorship activities. We frequent water sports events, support local festivals and contribute to food banks to promote a spirit of giving and community support. As a member of Eems Dollard Regio (EDR), which promotes cross-border regional business and culture in the northern Netherlands, we also support local maritime colleges and schools.
Our commitment extends to inspiring the next generation of maritime professionals. Our captains and key shore personnel regularly interact with students to make maritime careers more attractive and accessible to young people. Through these initiatives, we aim to strengthen community ties and make a positive contribution to both local and global communities.

Governance

Ensuring sustainability and trust; ethical conduct and governance

Under the leadership of Theo Dik (CFO) and Karin Orsel (CEO), MF Shipping Group is committed to ethical behaviour and corporate governance. As we celebrate our 30th anniversary in 2024, these principles remain central to our culture and long-term sustainability strategy. We prioritise transparency, accountability and integrity to protect the interests of all our stakeholders.

In addition to complying with industry regulations, we adhere to ESG standards that reflect our commitment to responsible business practices. We are not required to report under the Corporate Sustainability Reporting Directive (CSRD).

Ethical behaviour is fundamental to the sustainability of our business. We adhere to a comprehensive Code of Conduct and Supplier Code of Conduct, ensuring strict compliance with legal requirements, environmental regulations and fair labour practices. We have a zero-tolerance policy on child labour and forced or compulsory labour.

We require all new employees to read and agree to our Code of Conduct, complete the necessary training and comply with other relevant policies. This commitment is reinforced through an annual certification process to ensure that everyone in our organisation consistently meets our high standards of compliance and ethical behaviour.

MF Shipping Group is also an active member of the Maritime Anti-Corruption Network (MACN). MACN and its members strive to eliminate all forms of maritime corruption by raising awareness of the challenges faced, implementing the MACN Anti-Corruption Principles, co-developing and sharing best practice, and working with governments, NGOs and civil society to identify and mitigate the root causes of corruption. Our employees receive anti-corruption training through MACN.

We have a zero-tolerance policy towards corruption. Employees, both shore-based and on board, are required to comply with all applicable laws and regulations relating to corruption, bribery and money laundering. Clear protocols have been established for employees to follow if they encounter pressure to pay bribes or make other improper payments. Our company clearly does not support unethical behaviour. To prevent money laundering, vessels must demonstrate a direct link between the contracting party and the ultimate recipient of payment for services rendered, ensuring that no company in the transaction chain is on any international or national sanctions lists.

Goals Outcome
Achieve 100% compliance with the Anti-Bribery and Corruption policy (MACN) In progress.
Policy is updated; 80% compliance achieved for internal crew.

We have a strict policy on gifts and entertainment. We do not offer or accept lavish or excessive gifts, extraordinary entertainment or hospitality to customers. Our employees are strictly prohibited from giving or receiving, directly or indirectly, cash or cash equivalent.

To ensure a safe and confidential reporting environment, we have appointed an external Confidential Counsillor within our company. Employees can report misconduct confidently and anonymously, knowing that their concerns will be treated with sensitivity and confidentiality. No incidents were reported in 2023.

We prioritise risk management in our maritime operations, going beyond mere compliance with laws and regulations. Safety, environmental protection and the protection of our employees and partners’ assets are our top priorities. Our partnerships undergo thorough due diligence to ensure they meet our high standards. We are certified annually to ISO standards, consistently meeting stringent requirements with zero non-conformities in 2023. In addition, our tanker fleet complies with Tanker Management and Self-Assessment (TMSA) version 3, ensuring exceptional standards of safety and performance.

As a ship manager with international clients and vessels operating in international waters, we comply with all international regulations set by the International Maritime Organisation (IMO) and the national requirements of the various flag states in which the vessels operate, including the Netherlands, Norway (NIS) and Madeira. Our management systems are regularly audited by classification societies and, as a tanker manager, our company and systems are audited every six months by fuel/energy companies.

Our strength lies in staying ahead of new rules and regulations and, where possible, being a first mover in industry initiatives. We are active board members of the following associations: International Chamber of Shipping (ICS), European Community Shipowners’ Association (ECSA), Intertanko, Dutch Shipowners’ Association (KVNR), BIMCO, MACN and ISWAN.

It is vital that all stakeholders have confidence in the privacy and security of personal information held by the company. MF Shipping Group is continually strengthening its data protection and cyber security strategy to mitigate threats and ensure the protection of our systems. Cyber risks are addressed within the Vessel Security Management System and documented in our Port Document of Compliance. In collaborations where data is shared, we use a non-disclosure agreement (NDA) with clear restrictions and/or time limits. Access systems are secured using two-way authentication.
By adhering to these principles and practices, MF Shipping Group ensures sustainable and trustworthy operations and promotes trust and integrity in all our business relationships.

Goals Outcome
Achieve NIS2/ISO 27001 in 2025. Ongoing

At MF Shipping Group, we strongly believe in the power of collaboration to advance the maritime industry. Our people play crucial roles in various influential national and international organisations. For example, our CEO, Karin Orsel, is a board member of the Royal Association of Dutch Shipowners (KVNR), Chair of the ICS Diversity Panel, and President of the International Seafarers Welfare and Assistance Network (ISWAN). After many years as Vice-President, she was appointed President of the European Community Shipowners’ Associations (ECSA) on 1 January 2024, and also serves as President of ISWAN, where she proudly contributes to improving the welfare of seafarers and their families.

ISWAN provides a 24/7 multilingual helpline, delivers mental health training, and promotes better social interaction and peace of mind for seafarers. Together with ISWAN, we have participated in various projects relevant to global shipping, such as improving mental health and the MARTHA project on fatigue management.

Additionally, MF Shipping Group is a member of the Maritime Just Transition Task Force. Working with key partners such as the International Chamber of Shipping (ICS), the International Transport Workers’ Federation (ITF), the United Nations Global Compact (UNGC), the International Labour Organisation (ILO), and the International Maritime Organisation (IMO), we are committed to protecting seafarers’ rights and ensuring a fair, sustainable response to climate change in the maritime sector, in line with SDG 17.

Looking to the future, we remain determined to strengthen our strategies and fulfill our ambitions. Together, we are Moving Forward towards a successful year ahead.

Do you have any questions or want to know more?
Feel free to contact us.

communication@mfgroup.nl