ESG Disclosure 2024 | Reporting Year 2023

Training and Development

Training for the Future In an ever-evolving maritime industry, preparing our seafarers for future challenges is paramount. We recognise that the future of shipping will involve significant technological advancements and operational innovations. Therefore, our training programs are designed to equip our seafarers with the skills and knowledge required to navigate these changes effectively.

Our commitment to safety encompasses substantial investment in our personnel, encouraging their professional growth and reinforcing a safety-centric culture. This commitment goes beyond just compliance; it aims to create a supportive environment where every team member is equipped with the essential tools and knowledge to prioritise safety consistently. We conduct regular talent reviews to assess the skills and capabilities of our staff, creating tailored career development plans for each individual. We aim to make our colleagues feel valued and supported, promoting an ongoing culture of learning and professional growth. Thanks to our robust training programs and investment in our team, we are proud to report an onshore retention rate of 83.5% 1 . A skilled, motivated, and retained workforce is critical for enhancing operational efficiency, safety, and environmental protection. Keeping experienced personnel not only ensures operational continuity but also reduces turnover costs, contributing to a safer working environment and better compliance with environmental standards. Our training for seafarers exceeds the minimum requirements set by the International Convention on Standards of Training, Certification, and Watchkeeping for Seafarers (STCW), reflecting our dedication to high standards in maritime safety and education. 1 The retention rate is reported as an aggregate figure for the entire group, encompassing attrition across all the markets we operate in. The metrics remain competitive across these markets.

The shift towards greener fuels necessitates that our seafarers are proficient in handling new fuel types.

To provide the vital skills we have developed an online training course. This course introduces hydrogen, ammonia, and methanol as fuels, providing an understanding of their characteristics, differences, and crucial safety considerations. Additionally, we offer specialised training for seafarers operating dual-fuel LNG and ammonia engines, with both basic and advanced modules designed to enhance technical proficiency and safety awareness. We are further collaborating with third parties to develop comprehensive training programs for dual-fuel methanol engines, ensuring our seafarers are well-prepared for various fuels they may encounter. Senior officer leadership training is also provided, focusing on decarbonisation and encouraging leaders to effectively and safely drive the transition to greener operations. As the maritime industry advances towards a multi-fuel future, each fuel type presents unique challenges and safety considerations. V. is committed to prioritising the safety of our seafarers through comprehensive training programs. By investing in these programs, we ensure our personnel are knowledgeable and confident in managing associated risks.

34 | Training and Development

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