Making money is OK, but what about your ESG?

THERE was a time when companies, including shipowners, really only needed to focus on one thing - making money for their shareholders. That did not mean they should take a purely short-term view. Traditional tramp shipping companies were adept at surviving cyclical ups and downs of the shipping markets. And there will be plenty of shipowners who still thrive based on that mindset.

Times, though, "are a-changin", as Bob Dylan put it.

How about the following: The long-term stability of a shipping company requires good financial management together with an increasing focus on the non-financial issues of protecting the environment (E), performing the business in a socially responsible manner (S), and ensuring that company governance satisfies all national, international and ethical regulations and expectations (G).