The Company is aware of the significance of business operation with sustainable growth while managing corporate social responsibilities, with emphasis on business operation with care to all stakeholders, economic, social and environmental impacts, with integrity, ethics and code of conduct.
The Company Group realizes on the significance of the sustainable growing business operation under the corporate social responsibility by focusing on the business operation with care on stakeholders, economy, society, and environment under morality and ethics. Sustainability is a key driving of business. Therefore, the Company Group gives precedence to the awareness on both direct and indirect public impact, and incubation of knowledge and understanding, and building of the operating culture under the good governance in all processes to reinforce the public benefit and sustainable growth of the Company, as well as creation of new innovation to satisfy the requirements of all stakeholders based on the intention of being “the Leader of Thai Energy Transportation toward Sustainable Success”.
The Company has concerned all major factors for the operation according to the Good Governance and The Company’s sustainable development. The Company has developed each group of stakeholders’ management plan to assess the importance and relationships in the business value chain and analyze the risks to take into account the impact on stakeholders in all aspects and develop the relationship with stakeholders according to the Corporate Governance; as well as create awareness among employees at all levels for real practice.
Analysis on the Stakeholders in Business Value Chain
Group of Stakeholders | Stakeholder Expectation | Engagement Channels | Response Guideline of the Stakeholder Expectation |
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Shareholders/ Investors |
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Employees |
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Creditors |
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Business Partner |
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Customers |
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Business Competitors |
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Government Agencies |
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Community, Society, and Environment |
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The operations of the maritime oil trading business may cause marine environmental pollutions from several ways whether being oil pollution, pollution from toxic liquid in the holds, pollution from marine transportation of dangerous substances, sewage pollution, waste pollution, and air pollution from the vessels, or accident occurrence during transport, resulting in the oil spill to the sea. In spite of the few incidents, but the damage is widely caused, particularly in the marine ecosystem, that will affect human either directly or indirectly. That is why the countries have been aware of the significance on managing the environmental pollution problems from marine oil transport, enacting the laws for the navigation standard and safety control, and pollution control, and internationally cooperating to determine the navigation standards.
The International Maritime Organization (IMO) has played the key roles in determining and carrying forward to have the international laws for navigational pollution prevention. For instance, the International Convention for Prevention of Pollution from Ships A.D. 1973 which has been amended by Protocol A.D. 1978 later, and well known in the name of MARPOL 73/78 Convention, has the objective to prevent and reduce the pollutions caused by vessels no matter either being the pollutions caused by routine operations or caused by accident.
In the Company’s capacity of the business operations under such supervision of the International Maritime Organization (IMO) through the flag state, the Company Group gives precedence and strictly complies with the requirements and laws of both domestic and foreign supervisory agencies all the time for good and sustainable corporate governance of the Company and the Group.
Management Approach
In this regard, the Company Group has mutually, continuously, and properly planned to work according to the said International Convention and has been able to install the ballast water treatment system according to IMO Standards for the ships transporting in the international territorial waters. The Company Group has mutually and comprehensively considered on the installation of BWMS of each ship, for instance, Ship Renewal Survey Period, according to the International Oil Pollution Prevention Certificate (IOPP) and in the period of maintenance and ship docking of the Company Group to avoid the operating impact.
Operating Result
At present, Ballast Water Management System (BWMS) has been installed with three ships in the Company Group’s fleet. In installation of such system, the Company Group has firstly considered installing on the ships transporting in the international territorial waters according to the period of maintenance and ship docking.
Management Approach
In this regard, the Company Group has executed to support the situations according to the IMO2020 measure by establishing a policy for changing to consume Low Sulphur Fuel Oil (LSFO) not exceeding 0.5% by weight of sulfur in the ship fuel for the fleets which provide services or need to transport in the routes outside Thai Sea Boundary according to the International Maritime Organization (IMO) in all respects; controlling and monitoring the efficiency of the engine which is adjusted to consume the said LSFO.
Operating Result
The Company Group has announced to consume LSFO not exceeding 0.5% by weight as fuel in all ships from 25 December 2019 onwards to declare its intention of the cooperation and creation of international level standards. All international tankers of the Company Group have been completely passed for inspection and granted for the international certificate of air pollution prevention.
Management Approach
According to the aboard waste management of the Company Group, the aboard incinerator installation policy has been established according to the conditions prescribed by International Maritime Organization (IMO) that an incinerator installed on the ship built from 1 January 2000 or an incinerator installed on the ship from 1 January 2000 must conform to the standards determined by the IMO and granted for the certificate called the IMO Type Approval Certificate. The waste incineration shall be performed in the incinerator only, and some wastes, for instance, exhaust gas cleaning system residues, and polychlorinated biphenyls (PCBs), etc. are prohibited for incineration.
Operating Result
The Company Group has installed the incinerator according to the standards prescribed by the IMO, and has been granted for the IMO Type Approval Certificate for all ships in the fleet.