Engaging our Stakeholders

Maintaining Open

Communication

Heathy Crew onboard BW LPG Vessels
Our crew are important stakeholders for BW LPG

Engaging our stakeholders

We identify our material stakeholders based on the impact our business has on them, and their involvement in our business. We engage our stakeholders on an ongoing basis – however, Covid-19 safe-distancing measures and border closures effectively brought global movement to a standstill. Much of our engagement went digital from 2020, and our recent engagement reflects the largely remote nature of our initiatives.

Identifying our stakeholders

BW LPG aims to meet all stakeholder expectations. Here we show (i) three key ways we have engaged our stakeholders; (ii) their top expectations; and (iii) our three key initiatives of 2020 for each stakeholder.

StakeholdersHow We EngageKey ExpectationsWhat We Did
CrewTraining, workshops, conferences; Emails, in-house social media platform, surveys; Vessel visits and office attachment programsSafe and respectful workplace; Competitive wages with benefits; Training and developmentFleetwide implementation of BW Wellness Program; setting up of emotional helplines and mental health training, provision of PPE and introduced new safety procedures for COVID-19 precautions; introduced new training programs
EmployeesOnline townhalls and meetings; Emails, Intranet, Surveys; Involvement in community outreach initiativesSafe and respectful workplace; Competitive wages with benefits; Training and developmentRevamped Intranet platform to make communications and information easily accessible; Benchmarking of compensation to industry standards; Provided COVID-19 ‘Care Kits’ (hand sanitisers, thermometers, face masks etc.)
CustomersOnline industry events and seminars; Emails, calls, website and social media; Online presentations and meetingsWell-maintained vessels at competitive rates; Compliance with regulations; Flexible and good customer serviceImproved environmental efficiency of vessels; 24-hour customer service; Continued focus on cost efficiency and fleet maintenance
SuppliersOnline industry events and seminars; Emails, calls, website and social media; Online meetingsPrompt payment; Clear communication over deliverables; Good ESG standardsFair treatment and equal opportunity in tenders; Audit of suppliers for compliance to BW LPG’s Code of Ethics and Business Conduct; Commitment to pay suppliers within contractually agreed period
InvestorsAnnual/Quarterly reports and press releases; Emails, calls, website and social media; Online presentations and meetingsReturn on investment; Transparent and reliable reporting; Compliance to industry guidelinesContinued regular dialogue and meetings to share information; Live earnings presentation with Q&A session; Updating of website regularly to keep information up-to-date and easily accessible
LendersAnnual/Quarterly reports and press releases; Emails, calls, website and social media; Online presentations and meetingsTimely and reliable financial reporting; Full compliance with loan covenants; Increasing focus on our ESG initiatives and sustainability-linked financingTimely provision of financial information and ESG metrics; Continued compliance with covenants and other requirements; Ongoing discussions with lenders to explore sustainability-linked financing
Government and RegulatorsOnline industry events and seminars; Emails, calls, website, press releases and social media; Participation in industry coalitionsProvide safe and reliable maritime energy transportation; Offer innovative solutions to decarbonise; Abide by all laws and regulatory requirementsActively participated in major industry events as speakers to share expertise; Leveraged BW LPG’s scale and expertise to take the lead on clean energy and sustainable shipping; Continued compliance with all laws and regulatory requirements