‘By perseverance, everything reaches its target,’ the saying goes. Yet another year is almost over, and the COVID-19 pandemic continues to challenge everybody’s patience and perseverance. Many probably thought they would be back to a more ‘normal’ situation by now, but unfortunately it seems everyone will have to persevere a while longer.
All the more important it is now to acknowledge and celebrate some of the progress and milestones that are being reached in the maritime industry, in spite of the challenging times. There is a lot to be proud of and this past year has seen several commendable initiatives taken.
New task force to protect maritime workers
The establishment of a new task force focusing on seafarers and their role in the green transition is certainly one of them. The task force, announced during the COP26, by the International Chamber of Shipping, the International Transport Workers’ Federation, and the United Nations Global Compact, will work to protect maritime workers across the world, as the industry moves towards a more decarbonised future.
Seafarers need access to the tools, training, and the technologies needed for tomorrow’s green shipping
There is a need to ensure a just, equitable and people-centered transition. Seafarers need access to the tools, training, and the technologies needed for tomorrow’s green shipping. The task force is an important step forward in this regard, and Gard applauds the industry collaboration that has helped to get it onto the agenda.
Poseidon Principles for Marine Insurance
The launch of the Poseidon Principles for Marine Insurance is yet another good example of industry collaboration. The principles provide marine insurers with a global framework to measure and report on the carbon intensity of the hull and machinery portfolios, facilitating increased transparency across the industry.
For P&I, Gard will continue to work in partnership with the International Group of P&I Clubs, making sure there is continuous progress made towards climate alignment and ESG integration.
Of course, none of these initiatives provide a ‘quick fix’ for the complex challenges faced by the industry. What they illustrate, however, is that by putting minds together and collaborating across the industry, and with key stakeholders, a difference can be made.
Actively driving solutions for change
Instead of just being affected by change, the industry can actively drive the solutions
Instead of just being affected by change, the industry can actively drive the solutions. Both initiatives also illustrate that sustainability is not something that is being done by someone else, it is being done by everyone. And, it comes down to the practical choices and business decisions that companies and the industry makes every day.
Gard is happy with what has been achieved. Despite a challenging year, marked by a high number of COVID-19 related cases and increasing claims costs, the company strives to continue to deliver strong results, both financially and operationally. Gard saw a record P&I renewal and a strong development of the Marine and Energy business.
Gard offers stable and competitive prices for clients
For the company’s members and clients, this means that Gard can continue to offer stability and competitive prices, reflected by the fact that their premium increase for P&I mutual next year will be relatively low, when compared to the rest of the industry.
Rolf Thore Roppestad, the Chief Executive Officer (CEO), Gard A/S (Gard), said “I am proud of this achievement, just as I am proud of the hard work and dedication shown by my colleagues this past year. In testing times, we continue to show dedication and perseverance. Always putting our Members and clients first, and always working for sustainable maritime development.”
He adds, “On behalf of all of us at Gard, we hope you stay safe, and we wish you all a peaceful and joyful holiday season.”