Corporate Sustainability

Masterbulk’s main priorities are safety for people as well as caring for the environment.

We focus on our key performance indicators. These are reported to our management team and measures:

  • That procedures meet or exceed the latest industry standards
  • That compliance with procedures is monitored and reported

 

Protecting our planet
We must operate safely and manage the effect our activities have on the environment, neighboring communities and society as a whole.

Masterbulk’s driving force behind our efforts in this area is quite simple: it’s the right thing to do.

Efforts to improve fuel efficiency, which also has the environmental benefit of reducing emissions, have increased with rising bunker fuel concerns.

Environmental regulations have continued to increase in recent years, the International Maritime Organization’s (IMO) global sulphur cap on marine fuels which will enforce a reduction to 0.5% starting from January 1, 2020 being of particular note. At the same time, our stakeholders expect us to demonstrate our commitment to sustainability and our responsibility to the environment.

 

Ship recycling

Masterbulk operates in accordance with IMO’s Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships, even though the convention has not been ratified yet. All ships are to be recycled at yards that have been fully inspected and certified by an International Classification Society, meeting the requirements of IMO Resolution MEPC 210 (63) guidelines for safe and environmentally sound ship recycling. The yards are also to be ISO 14001 and ISO 9001 certified for environmental and quality management. All ships delivered for recycling hold an inventory of hazardous materials, certified by DNV GL, verifying that the vessel has been properly prepared. A comprehensive ship recycling plan is provided to the yard to ensure compliance with Masterbulk’s policy. During recycling, Masterbulk maintains surveyors on-site at the recycling yard, to monitor the process first-hand, from start to finish, to ensure compliance with the ship recycling plan.