Dear readers,
2025 was a year shaped by geopolitical uncertainty, economic pressure and increasing complexity in the maritime sector.
In this environment, one thing remains unchanged: shipping depends on people. Technology, systems and processes are essential, but it is our seafarers and colleagues who keep vessels running safely, make decisions under pressure and ensure continuity at sea and ashore.
At MF Shipping Group, this is not a statement, but a daily reality. Our crews operate in demanding conditions, far from home, often for long periods. That reality requires more than procedures. It requires leadership that is visible, behaviour that is consistent, and a culture where people feel safe to speak up when it matters.
In 2025, we took a concrete step with the launch of Dare to Care. The programme is focused on how we work together in practice: how we lead, how we communicate, and how we act when safety, wellbeing or behaviour is at stake. Psychological safety and trust are not abstract concepts, but conditions for safe operations.
We also marked the delivery of the 50th vessel built at Ferus Smit under MF Shipping Group supervision for the Erik Thun Group, reflecting long-term cooperation and continuity in a volatile market.
On a personal note, I served as Chair of the European Community Shipowners’ Associations until December 2025 and received the IMO Gender Equality Award. Both milestones reflect collective effort across our organisation and the wider industry, not individual achievement.
Despite continued volatility, we maintained operational control and focus. That stability is only possible because of strong teams who keep performance consistent, even under pressure.
Looking ahead, the sector will continue to face decarbonisation, talent shortages and rising expectations from clients and regulators. These challenges are not abstract—they are already shaping daily operations on board and ashore.
My sincere thanks go to our seafarers, colleagues and partners. Their commitment is what keeps the company moving.
Without them, nothing moves.
Karin Orsel
, Chief Executive Officer
May 2026
Who we are
MF Shipping Group is an international ship management company headquartered in Farmsum, the Netherlands. Since 1994, we have been trusted to manage vessels on behalf of shipowners who value safety, reliability and long-term performance.
We operate a diverse fleet, including product and chemical tankers, multipurpose vessels, cement carriers, self-unloaders and roll-on/roll-off vessels, typically ranging from 3,000 to 23,000 deadweight tonnes.
At MF Shipping Group, people are at the heart of everything we do. It is our seafarers and shore-based teams who make safe, reliable and sustainable operations possible every day.
Our approach
We build long-term partnerships based on trust, transparency and shared responsibility. Together with shipowners, we ensure vessels are operated safely, efficiently and in full compliance with international standards, while continuously improving performance.
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
15 Dry Cargo
9 Cement
Aboard
Ashore
General Facts & Figures
Our commitment to move forward
Our mission, vision and core values form the foundation of MF Shipping Group. They guide our daily work, decisions and long-term direction in a changing industry.
We comply fully with all applicable laws and regulations. Beyond compliance, we embed Environmental, Social and Governance (ESG) principles in how we operate and actively support the United Nations Sustainable Development Goals (SDGs).
ESG provides direction to our strategic pillars and is fully integrated into decision-making. It ensures a balance between ambition and responsibility for people, the environment, and good governance, connecting growth with long-term, sustainable value creation.
Our corporate strategy sets a clear direction for the years ahead. Built on three key pillars, it connects ambition with action and guides how we grow, lead, and contribute to a safe, sustainable and inclusive maritime industry.
Below you will 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
Our people/our culture
People are the foundation of our organisation. Vessels do not operate themselves. Systems do not replace judgement. Data does not replace experience. Safe and reliable operations depend on people—on board and ashore—who take responsibility, make decisions under pressure and support each other in daily operations.
Our people-focused culture is reflected in our core value of a ‘unique family’. This is not a label, but something we live in practice: how we work together, how we communicate, and how we step in when something is not right.
We want to be a workplace where people can do their job well and safely, in an environment built on respect. Bullying, harassment and discrimination have no place in our organisation and are not tolerated. We expect everyone—at sea and ashore—to take responsibility for their behaviour and for the culture they help create.
Key Risks
Strategic focus
In 2024, we began listening more actively through employee surveys. In 2025, we acted on those insights. The surveys confirmed a strong foundation of trust, while also highlighting the need to improve how employees experience care and development.
Our four strategic focus areas:
What we do:
We continue to focus on attracting and developing the best people, building stronger teams through diversity in its widest sense.
Our actions:
Established in 2024, our DEI Working Group brings together representatives from both shore and sea. It ensures that inclusion is embedded in our day-to-day operations and not treated as a standalone initiative.
The group is responsible for:
- Developing and reviewing DEI policies
- Creating and monitoring action plans
- Running regular culture and climate assessments
- Addressing practical topics such as onboard clothing, hygiene provisions, inclusive language and gender equality
- Organising awareness campaigns and training sessions
This structure helps ensure that feedback from across the organisation is heard and translated into practical improvements on board and ashore.
We run structured training programmes for both shore-based and shipboard personnel, with a strong focus on safety, digitalisation and compliance, including anti-bribery standards. Internal career pathways and reskilling initiatives support continuous development and future readiness.
Onboard training is mandatory and includes regular refreshers, with additional focus on operational safety and technical competence, including electrical training.
At management level, targeted programmes such as NIS2 cybersecurity training strengthen awareness and support good governance and digital resilience across the organisation.
Seafarers’ Worldwide Welfare Foundation
In 2025, we established an independent charitable foundation to extend our support beyond emergency relief and focus on long-term wellbeing for seafarers and their families.
The foundation focuses on:
- Educational scholarships for seafarers’ children
- Mental health support programmes
- Emergency financial assistance in times of crisis
- Community resilience projects in seafarers’ home regions
It builds on the work of the former MF Seafarers Fund, which provided critical support during events such as Typhoon Haiyan (2013) and the COVID-19 pandemic.
Beyond our own organisation, we actively contribute to shaping the maritime industry through collaboration and shared initiatives.
Industry engagement
MF Shipping Group is an active member of several maritime organisations. Through these partnerships, we contribute to industry-wide progress on safety, sustainability and regulation, while also strengthening our preparedness for evolving compliance and governance requirements.
A key highlight was in 2024–2025, when our CEO Karin Orsel served as Chair of European Community Shipowners’ Associations, reflecting our active role in shaping the European maritime agenda.
Members of our management team are also engaged in organisations including the Royal Association of Netherlands Shipowners, INTERTANKO, International Seafarers’ Welfare and Assistance Network, International Chamber of Shipping and Maritime Anti-Corruption Network.
Local community involvement
We remain closely connected to our home region of Eems Dollard, supporting local initiatives such as water sports events, festivals, food bank contributions, and maritime education programmes through the Eems Dollard Regio network. We also engage with local organisations including Zeemanshuis Delfzijl and Muzeeaquarium Delfzijl.
Safe & Sustainable
At MF Shipping Group, safety and sustainability go beyond compliance, procedures and performance metrics. They are reflected in how we operate, how we lead, and how we treat each other in everyday practice. We strive for zero incidents and for a positive, safe working environment for everyone on board and ashore.
Our safety culture is built on awareness, accountability and the confidence to speak up. People make the difference — in both physical safety and social safety. This is closely connected to our pillar Our People / Our Culture, where we focus on creating an environment where people feel respected, supported and able to perform at their best.
At its core, safe and sustainable operations depend on the human element: the decisions people make, the care they show for one another, and the shared responsibility we carry across sea and shore.
In 2025, near-miss reporting increased further, reflecting stronger awareness and growing confidence to identify and report risks at an early stage. Each report is reviewed, translated into corrective actions where appropriate, and shared across the fleet as learning.
At the same time, we recorded a serious mooring incident in 2025, resulting in injury to a crew member. The incident was fully investigated and led to immediate corrective actions, including a reinforced fleet-wide mooring safety campaign.
We continue to operate in a high-risk, high-performance environment, particularly within our tanker operations under Marin Ship Management (part of MF Shipping Group). This requires discipline, consistency and visibly strong leadership at all levels.
To further strengthen prevention, we are moving towards more predictive safety management, including the introduction of the HiLo system in 2026.
Regular ship visits by management remain an important element of our safety approach, ensuring direct engagement with crews and close alignment between shore and ship operations.
Our long-term direction remains clear: continuous improvement towards reduced emissions, zero incidents and zero oil spills, in compliance with applicable environmental laws and regulations.
Key risks
The operating environment in shipping continues to increase in complexity and operational pressure. The most material risks within this pillar are:
Strategic focus
Our approach is built around three priorities: safe operations, predictive risk management and environmental responsibility.
Our actions:
Our Safety Management System complies with or exceeds SOLAS, STCW, MARPOL and MLC 2006 requirements across the fleet. In addition, our tanker fleet operates in accordance with ISO 14001 and TMSA Level 3 standards. These standards form the baseline of our operations; our ambition goes beyond compliance.
A key focus is the development of predictive safety performance, shifting from reactive learning towards proactive risk prevention. In this context, we are preparing the introduction of the HiLo maritime risk management system in 2026. This system enhances maritime safety and efficiency through data-driven analysis, enabling us to identify high-risk exposure areas and focus resources where they have the greatest impact. It supports the prediction and prevention of incidents by providing actionable insights for safer shipping.
Our tanker fleet, operated under Marin Ship Management, operates in a high-risk, high-performance environment where disciplined execution and consistent standards are essential for safe operations.
Key initiatives include:
- Comprehensive onboarding and safety inductions for all crew members
- Regular vessel inspections by shore-based technical and quality officers
- Structured CBT programmes with competency verification
- Monthly safety meetings and newsletters, sharing lessons learned
- Senior management-led safety campaigns, including the 2025 mooring safety campaign
- Regular ship visits by MF Shipping Group management and key staff, ensuring direct engagement with crews and alignment with operational reality
2025 marked full implementation of SIRE 2.0 across our tanker fleet. Using digital pre-inspection tools, we improved consistency, reduced administrative burden and strengthened compliance readiness. All tanker vessels achieved satisfactory results in line with the global INTERTANKO benchmark.
GHG emission reduction, Nox, Sox and CII
Efforts to reduce emissions across our tanker and general cargo fleet are a core part of our sustainability strategy. In close cooperation with shipowners, we are strengthening fuel monitoring and accelerating the digitalisation of onboard systems, in line with applicable international regulations and industry requirements.
We recorded zero significant oil spills or contained spills in 2025, maintaining a strong performance record for the third consecutive year. This reflects robust operational control, training and reporting culture, including near-miss identification and follow-up actions.
Key contributors:
- Strict pre-departure and bunkering procedures
- Continuous crew training on spill prevention and emergency response
- Active near-miss reporting culture
- Regular external audits and inspections
100% of our fleet is equipped with IMO-compliant ballast water treatment systems, designed to prevent the transfer of invasive aquatic species. Each vessel maintains a comprehensive Ballast Water Management Plan in accordance with IMO Resolution A.868(20). In 2025, we achieved zero deficiencies in ballast water system inspections across all vessels. Any deficiencies identified in future will be reported immediately, with a continuing target of zero.
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 visualization 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 waste data, which will help to determine actions. The first step is to implement electronic logbooks throughout the fleet, to monitor all waste streams in 2025/2026, as a baseline. Subsequently, we can visualize the waste streams data on board vessels and determine actions and goals for 2030 and 2035.
A fleet-wide programme has been completed to replace PFAS-containing firefighting foam with environmentally safe alternatives. All systems were cleaned, flushed and refilled during scheduled dockings in compliance with local regulations.
Research is being conducted into various antifouling options for vessels, focusing on the effectiveness and environmental impact of the various antifouling solutions. Resulting from this investigation is application of Hempaguard X7 silicon-based coating on Thun Liverpool where we will also apply others, GIT coating and Jotun SQ Endura in 2025, on sister vessels in similar trading areas to have comparison and determine future coatings on vessels.
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. Surplus energy is created by operating the engine in service in the highest efficiency load and charging the excess power not used in the battery, releasing it once fully charged and stopping the fuel driven engine. This energy management helps to optimize fuel consumption and reduce overall energy waste. The battery packs will be installed on the existing Thun dry cargo vessels. Newbuilding will have battery packs integrated from the start of their service life.
Newly delivered vessels will be equipped with adaptive propulsion. Existing vessels will be considered for retrofitting with Eco-drive systems. The Eco-drive system is adaptive propulsion and fuel optimization 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.
We actively focus on fleet renewal and support shipowners in delivering modern, energy-efficient vessels.
Erik Thun AB partnership
Our project management team oversaw five newbuilding projects in 2025 in partnership with Erik Thun AB. These vessels include:
- Battery storage and peak shaving systems
- Torque meters and mass flow measurement
- Energy-efficient propulsion optimisation
- Methanol-ready engine designs for selected vessels
In December 2025, MV Naven was launched, marking the 50th vessel built by Ferus Smit for Erik Thun AB—a milestone in a long-standing partnership.
Alstership fleet renewal
Alstership is building four new vessels in China to replace older tonnage. Delivery 2026/2027 MF Shipping Group is responsible for crew management, ensuring safe and consistent operations from delivery onwards. This programme will improve fleet efficiency, safety and environmental performance.
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 to maximize energy efficiency. Annual electricity consumption is monitored via the CENSO Live platform. As a result of these building improvements, electricity consumption will decrease by 18% from 2022 to 2024. Another future project is the installation of LED lighting throughout the building, which will be phased in over the next few years.
Office performance metrics
We prioritize 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 minimize commuting emissions.
To minimize our environmental impact, we have eliminated plastic water bottles in favor of reusable alternatives. Rainwater harvesting systems provide water for toilet flushing, thus conserving water resources. We do see an increase in consumption in 2024 which is related to inconsistent rainfall. Using collected rainwater to supply the toilet does require regular replenishment with rain which we note to be less the case. We do however see short intense periods of rain which do fill the storage tank; however, once full the tank will overflow in the regular drain systems.
Future developments are installation of solar panels and installation of a battery system to store energy in the building. This is planned for 2026.
Digital Driven
Digitalisation is a key driver of performance at MF Shipping Group. It is not about technology for its own sake, but about enabling our people and vessels to perform better.
In a complex and fast-changing maritime environment, reliable data, clear insights and efficient processes are essential. They support better decision-making, reduce risk and improve operational consistency across both ship and shore operations.
At the same time, we recognise that digitalisation only delivers value when it genuinely supports the people who use it. Systems must reduce complexity, not add to it.
Our focus therefore remains on practical, user-friendly digital solutions that improve daily work, strengthen transparency and deliver measurable value across our people and vessels.
Key risks
As our digital capability grows, so does our exposure to a distinct set of risks:
Strategic focus
Our actions:
ESG
ESG guides our strategic pillars and is embedded in decision-making. It balances ambition with responsibility for people, the environment and governance, linking growth to long-term sustainable value.
Environmental
Focus on emissions reduction, fuel efficiency, waste management, ballast water treatment and biodiversity protection. Operational safety is directly linked to environmental performance and risk prevention.
Social
Focus on people, wellbeing, inclusion, diversity and psychological safety. Governance is embedded through clear policies, ethical standards and fair treatment across all levels of the organisation.
Governance
Governance at MF Shipping Group is based on transparency, accountability and integrity. It combines clear structures, robust systems and responsible behaviour to ensure safe, compliant and ethical operations across the organisation.
It is often defined by rules and processes, but at MF Shipping Group it is equally about behaviour. Integrity, transparency and accountability depend on the daily decisions of our people. Policies provide the framework; people bring them to life.
A strong governance framework is essential for responsible ship management. It ensures risks are managed systematically, and that stakeholders, including clients, vessel owners, investors and regulators, can rely on us.
Key focus areas
- Compliance with international and national regulations (IMO, EU and flag state requirements)
- Risk management and internal control systems
- Transparency and reliable reporting
- Ethical conduct and anti-corruption standards
Looking ahead to 2026
2026 will be a year of focus and execution. Building on the progress of recent years, we will strengthen performance across safety, sustainability, digitalisation and people development, while continuing to build a resilient and future-ready organisation.
Operational performance remains a clear priority. The focus will be on improving consistency and efficiency across fleet and shore operations through better use of data, stronger integration of digital systems and more disciplined performance management. At the same time, we will step up efforts to reduce emissions through operational optimisation, smarter voyage planning and the further rollout of energy efficiency solutions across the fleet.
People and culture remain central to how we operate. In 2026, we will continue to invest in leadership, practical training and engagement across sea and shore. The Dare to Care programme will move into the next phase, with a stronger focus on day-to-day behaviour, communication and cooperation between teams.
Governance and risk management will continue to develop in response to a more complex regulatory environment. Cybersecurity and NIS2 readiness are becoming part of daily operations, not separate projects. At the same time, we will improve data quality and the responsible use of information to support better, faster decision-making.
Across all of this, one theme is clear: the industry is changing quickly, and success depends on how well we connect people, systems and decision-making across the organisation.
We remain committed to safe, reliable and efficient operations today, while actively contributing to a more sustainable and future-ready maritime industry for the long term.
Contact & Stakeholder Feedback
We welcome feedback on this report and are committed to continuous improvement in our sustainability reporting. Your input helps us better serve stakeholder information needs.
For inquiries regarding this report:
www.mfshippinggroup.com
