We are proud to announce the release of our 2024 Transparency Act Annual Account—the third report since the Norwegian Transparency Act came into effect in 2022. This annual account reaffirms Gearbulk’s ongoing commitment to respecting fundamental human rights and promoting decent working conditions across our global operations and supply chain.
The Norwegian Transparency Act requires companies to carry out due diligence to identify, prevent and mitigate negative impacts on human rights and decent working conditions. While only Gearbulk Norway AS is formally obligated under the Act, our report reflects the Group’s collective efforts—a demonstration of our belief that transparency and responsible business conduct are essential, regardless of legal requirements.
Key Highlights
Full rollout of our Third-Party Management System
All vendors were onboarded in 2024 and risk assessed, helping us monitor and address risks related to human rights and decent working conditions.
No adverse human rights impacts reported
No cases of violations or concerns were reported through our whistleblowing channels.
Global compliance campaign
Training sessions and awareness activities were conducted in Brazil, Manila, Singapore, and during the Officers’ Seminar to promote a compliance culture.
Strong focus on crew welfare
Mental health campaigns, surveys, and adherence to the Maritime Labour Convention (MLC) helped us support our seafarers at sea.
Assurance of fair and ethical recruitment practices
Our manning agencies in high-risk countries like the Philippines, India, and China were audited, and no material risks were found.
Shipyard due diligence
In preparation for the construction of six new vessels, thorough human rights assessments were conducted at the selected Chinese shipyard.
As we move through 2025, Gearbulk will continue to develop and refine our processes, tools and training to support responsible business practices. We remain committed to meeting our obligations under the Transparency Act and to playing our part in creating fair, safe, and respectful working conditions throughout our value chain.
We invite all stakeholders to review our report and join us in promoting human rights.
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View the report here: Gearbulk Transparency Act Report 2024