ENVIRONMENT – OUR STRATEGY FOR CLIMATE CHANGE & ENVIRONMENTAL SUSTAINABILITY

We work responsibly, implementing sustainable practices, procedures and policies based on good corporate governance, integrity and care for the environment. These are reflected in the way we take decisions, interact with one another and behave with our customers and stakeholders.

GULFNAV’s environmental strategy and approach to sustainability demonstrate a clear commitment to running a responsible business while respecting the environment and embracing precautionary efforts to mitigate broad global climate change and environmental impacts.

To achieve its vision, GULFNAV promotes a strategic focus on cleaner seas, land and cargo through monitoring and maintaining Inventory of Hazardous Materials (IHM) in line with IMO Hong Kong Convention 2009 on Recycling of Ships and EU SRR 2013, and by investments in innovative low-carbon technology, energy efficiency and operational efficiency. Additionally, GULFNAV fleet was greatly enhanced in recent years by a retrofitting programme. We have invested extensively in the latest generation of marine technologies, such as new energy-efficient propellers and bows to reduce fuel consumption and therefore improve our energy efficiency.

Our commitment to pass cleaner environment to our future generation is displayed by our continues efforts to not only meet prevailing Statutory requirements but also to act proactively to forth coming requirements. Above mentioned IHM requirements not only ensure controls of hazardous material during ship building and operational life of the ship, but also ensure environmentally safe recycling of the ships too.

We continuously monitor our environmental performance and have implemented a number of operational measures to further reduce our CO₂ emissions to meet expected new regulations, including those to be adopted by the International Maritime Organization (IMO).

Regulation	Aim & Effective Date	GULFNAV’s Response	Fleet Management Response
IMO Ballast Water Management Convention	Sets standards for proper management of ballast water and sediments to prevent the spread of harmful marine species. Effective Date: 8 Sep 2017.	Installation of advanced ballast water treatment systems in one of our vessels. With the aim to be installed across our entire fleet by 2023.	GULF FANATIR, GULF HUWAYLAT, GULF DEFFI & GULF JALMUDA are planned for the installation of BWTS in next DD. Presently vessel following D-1 method for Ballast water management.
IMO 2020 enhanced global sulphur limit (MARPOL Annex VI, regulation 14)	Enhances existing limits for sulphur content in marine fuel to reduce emissions of sulphur oxides and other pollutants. Effective Date: 1 Jan 2020.	Installation of Exhaust Gas Cleaning Systems (ECGS); evolving fuel strategy including use of Low Sulphur Fuel Oil (LSFO).	Vessels supplied with Low Sulphur Fuel Oil (LSFO) to comply with the global sulphur limit.
IMO Data Collection System (DCS)	Requires collection of fuel consumption data for ships 5,000 GT or over as part of the mandatory Ship Energy Efficiency Management Plan. Effective Date: 1 Mar 2018 for data collection from 1 Jan 2019.	Initiated advanced data acquisition across fleet.	For GULF FANATIR, GULF HUWAYLAT, GULF DEFFI & GULF JALMUDA data acquisition completed for year 2022 and same submitted to NKK for verification and issuance of compliance certificate.
EU Monitoring, Reporting & Verification (MRV)	Requires collection of CO2 emissions data for ships over 5,000 GT calling at EU/EFTA ports. Effective Date: 1 Jul 2015 for data collection from 1 Jan 2018.	Initiated advanced data acquisition across fleet	Vessels on TC to trade in Asia region. Moreover, data acquisition is in progress, but so far none of the vessels under our management called European ports, also EU MRV monitoring plan not available for all four vessels.