Financial incentives are vital to reward good practice, but on their own they won’t deliver meaningful change. This article argues that without consistent data, standardised benchmarks, and clear accountability, ESG progress will remain uneven.
Closing the safety, sustainability, and crew welfare gap will require better tools for both owners and charterers. Financial incentives and long-term contracts are essential to reward above-baseline performance, but they are not enough on their own.
Our data shows that the industry still lacks consistent, decision-grade data and a shared definition of what “good ESG performance” looks like. Fragmented reporting standards and limited visibility mean that even well-intentioned stakeholders struggle to recognise or market higher-performing vessels.
Crew welfare illustrates the blind spot vividly. While 47% of charterers claim it to be a significant criterion when selecting vessels, only 7% say they have the right mechanisms to assess it in negotiations. Transparency remains patchy. ESG data is often self-attested, fragmented, and inconsistently applied.
Gina Panayiotou of Oceans Arena observed:
“For example, when it comes to training the crew for the fuel and technologies of the future or investments in their wellbeing or happiness, these are difficult to measure and monitor ROI on so it is accounted for as a cost. The incentive here for owners is safe and optimised operations rather than charter rate premiums.”
The absence of shared standards and credible data has left the industry fragmented. Owners who invest in stronger safety systems, greener technologies, or improved welfare often find these efforts invisible in the market. Charterers, meanwhile, admit they cannot consistently assess ESG claims.
The result is a paradox: both sides claim to value ESG, yet neither feels equipped to act. ESG remains a rhetorical commitment rather than a decisive differentiator in vessel selection.
To explore how the maritime industry can anchor safety, sustainability, and crew welfare at the heart of vessel selection, read the full thought leadership report, From Pledges to Practice: Anchoring Safety, Sustainability, and Crew Welfare in Vessel Selection, commissioned by RightShip.
