North Star’s £400 million ($550 million) ongoing commitment as part of its ESG strategy, combined with a £1.8million investment in crew training last year, has delivered significant progress in its transition to
North Star’s £400 million ($550 million) ongoing commitment as part of its ESG strategy, combined with a £1.8million investment in crew training last year, has delivered significant progress in its transition to operating a net zero fleet by 2045.
The UK’s largest integrated ship owner-operator has a current fleet of 48 vessels. Findings from its 2024 ESG report include an 18% reduction in fleet-wide carbon intensity compared to 2022, alongside a 15% year-on-year cut in Scope 1 greenhouse gas (GHG) emissions.
The 12-month analysis illustrates the successful deployment of the company’s first three service operation vessels (SOVs) under long-term charter agreements. Since 2024, a fourth SOV has been operational at the Dogger Bank Wind Farm, while the firm’s first methanol-ready SOV has commenced work under a European contract. Three more SOVs are scheduled for delivery in 2025 and 2026.
Other insights include:
• 13% increase in headcount since 2022, supporting strategic growth
• Ongoing investment in mental health and wellbeing initiatives
• Improved diversity and inclusion metrics across onshore and offshore teams
• Recognized with the British Safety Council’s 5 Star Audit, International Safety Award and Sword of Honour for health and safety excellence
• More than doubled its EBITDA
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