About Our CSR Report

This is our first standalone CSR Report, although we have for several years reported on our CSR programme within the pages of our annual reports. In combination with the CSR content on our website, this report serves as a record of our main CSR initiatives and performance highlights, focusing on areas that are material to our business and stakeholders.

Through linkage in our Annual Report to information in this CSR Report and online, we create transparency about our operations so that stakeholders have a clear sense of our non-financial business practices and the linkage across our actions, policies and performance.

Our CSR reporting discloses our CSR performance data for 2016 and summarises more permanent aspects of our CSR narrative, such as (a) key inputs and outputs of our business, (b) initiatives we pursue to tackle our responsibilities, and (c) materiality, reporting scope and CSR governance.

Our CSR initiatives and reporting are guided by broad strategic objectives that relate to:

Sustainable business practices are an important platform for preserving and creating long-term value and fundamental to being a successful, professionally-managed and reputable company. That platform is based on two overarching areas of corporate responsibility:

Corporate Social Responsibility

Corporate Governance

We address corporate governance separately in the governance section of our Annual Report and website

CSR Reporting Framework

Our CSR reporting follows the Environmental, Social and Governance Reporting Guide (“ESG Guide”) of The Stock Exchange of Hong Kong (the “Stock Exchange” or “SEHK”), and draws on the guidelines and principles of the United Nations’ Global Compact and GRI’s sustainability guidelines as well as the International Integrated Reporting Council’s International <IR> Framework.

We have measured and tracked key aspects of our CSR performance for several years and we are on track to meeting the Stock Exchange ESG Guide’s disclosure requirements as they are phased in.

An Integrated Reporting Framework

In preparing our Annual Report, CSR Report and internal management reports, we follow the International Framework of the International Integrated Reporting Council which enhances the way we think, plan and report the story of our business.

Our integrated reporting demonstrates how we embed holistic, integrated thinking into our strategy and plans and make informed decisions and manage key risks to build investor and stakeholder confidence and improve future performance. We also show how we rely on and impact our resources and relationships – our Capitals – to protect and create value over the long term.


The scope of this report covers environment, workplace and community initiatives that reduce our environmental impact, reinforce our class-leading safety culture and mitigate safety and environmental risks, enhance job fulfilment and promote responsible engagement within the communities where we operate.

Our CSR reporting focuses on the majority portion of our core dry bulk fleet that comprises owned vessels that we control both commercially and technically. It is these vessels over which we have the authority to mandate and control Health, Safety, Environment and Quality (HSEQ) policies and actions. By contrast, we do not control HSEQ, crewing and other technical management aspects of inward chartered vessels. We also report on company-wide staff engagement and community initiatives and performance.

Reporting Period

The reporting period is 1 January to 31 December 2016.


Our Energy Efficiency Operational Indicator (EEOI) and other environmental and safety KPI data have been measured or calculated in accordance with industry standards, and has been audited by Lloyd's Register Quality Assurance for ISO 9001, ISO 14001 and OHSAS 18001 certification.


The Group has published a number of documents to guide our actions and improve our performance in areas of Corporate Social Responsibility, such as:

We welcome your feedback on this CSR Report and our approach to CSR. Please refer to our CSR feedback form.


My Annual Report

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