“Creation of shared value for a shipping company, through energy efficiency management” (2013)

by Pavlopoulou, Yanna, Aravossis K. Gougoulidis G., 4th CEMEPE and SECOTOX Conference, Mykonos, Greece


Energy efficiency operational requirements were mandated in the shipping industry since 1.1.2013, following the emergence of an adequate number of energy saving systems and technologies for retrofit and newbuild vessels. Corporate social responsibility (CSR) values urge a company to address economic, social and environmental objectives beyond legal obligations. Creation of Shared Value (CSV) is a more practical business approach to the needs of stakeholders and innovation, driven by added value, than values. The present research aims to determine the proactive willingness of a shipping company to invest in eco-ships and energy efficiency measures, in order to improve its performance and create shared value.
Interviews were conducted, as well as a survey with the use of the same Questionnaire to the Managing Directors and Technical Managers of several Greek-owned shipping companies, requesting choice of one preferred option between two alternatives. Their answers were analyzed from the perspective that an integrated shared vision and strategy may enhance the sustainability of the shipping company. Concerns about safety, cost as well as time and resources, required for energy-saving were considered as necessary parameters against the business priority of a holistic research and development (R&D) of innovative management systems. The emerging challenge was to proactively implement a sustainability strategy and culture, sharing knowledge and company’s vision, top down from the most expert to all the staff, in order to drastically improve the corporate performance.
Confidentially collected answers about critical factors e.g. universal standards, employee empowerment and human commitment, showed differentiated views from the Managing Directors, especially if simultaneously owners, than from the technical managers; the first had the culture and control-power to set the company’s long-term strategic planning, while the latter devoted time and expertise on day to day practical problems. Material evidence of value, key risks and opportunities, cultural change towards sustainable thinking, ability to link long-term operational issues to short-term decisions are metrics to be used in a future Sustainability Report. A noticeable trend was that publicly listed companies present similar awareness level and their approach differs significantly to their non-listed peers’. As a conclusion, diversified research input and incentives to share knowledge among company’s staff could enhance business results. Long-term planning, aware of sustainability trends and future demands, innovation initiatives by internal staff in cooperation with R&D experts, could create shared, optimal & win-win business value.


ship energy efficiency, CSR, CSV (Create Shared Value).


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