OREANDA-NEWS. Essar Shipping Ltd (ESL), the integrated logistics solutions provider with investments in logistics services, sea transportation and oil field drilling services, today said it has released its Fourth Sustainability Report titled 'Strengthening and Creating a Sustainable Maritime Industry.' Capturing ESL's performance in terms of impact on the environment, and social and governance initiatives for each of its business units, the report encapsulates all the activities undertaken to improve sustainability.

Captain LK Panda, Nautical Advisor to Government of India, Directorate General of Shipping, officially unveiled the Fourth Sustainability Report which has an A+ in adherence to the GRI G3.1 Guidelines. The event was graced by senior executives from various shipping institutions like Indian National Shipowners' Association (INSA), Directorate General of Shipping, Mercantile Marine Department, DNV GL, Nippon Kaiji Kyokai, Lloyd's Register, Indian Registrar of Shipping and banking institutions such as State Bank of India and State Bank of Bikaner and Jaipur.

"Essar Shipping has a done a commendable job in maintaining its commitment to sustainability and publishing its fourth voluntary sustainability report. Its effort to continue to publish the report each year is an indicator of its pioneering spirit," said Captain LK Panda.

The report was prepared in-house and was audited by DNV GL Business Assurance Pvt. Ltd as per the DNV GL sustainability standard. Commenting on the report, Mr Umesh Grover, CEO, Indian National Shipowners' Association, said, "The steps taken by Essar Shipping towards sustainability are definitely a road map for others to follow, not only in India, but globally."

While it is not mandatory for shipping companies to publish a sustainability report, Essar Shipping uses its sustainability reporting to establish a code of reliability. This benefits the company in terms of better recognition from customers and smoother sailing on the high seas, both from an operational point of view and from policy and regulatory stand point.

"From reducing emission levels on ships to the economic consumption of electricity in the offices, Essar Shipping has taken several initiatives towards a cleaner environment, and better governance and health, to create a sustainable industry. In addition to adding value to our business processes, the report plays a substantial role in strengthening the brand," said Captain Anoop Sharma, Whole Time Director & CEO, ESL, at the event.

About Essar Shipping
Essar Shipping Limited operates a diversified fleet of 15 vessels, including VLCCs, Capesize, Mini Capesize, Supramaxes and Handymax carriers. The company has deployed its capacity using an optimal mix of spot markets, long-term contracts and COAs, in order to maximize profit and insulate the company from market volatility.

The oilfields services business provides contract drilling services to oil and gas companies across the globe. This business owns one semi-submersible rig and 15 land rigs.