INTERCARGO Annual Review details progress in safety, sustainability and growth

The International Association of Dry Cargo Shipowners (INTERCARGO) marked a transformative year in its 2023-2024 Annual Review, launching major initiatives while reaching record membership levels amid growing industry challenges.

Outgoing Chairman Dimitri Fafalios reflected on key developments during 2024, including the August launch of the Dry Bulk Centre of Excellence (DBCE) and its DryBMS portal, demonstrating the sector's dedication to operational excellence. The Association marked another milestone with its first-ever report communicating its messaging via ESG and showcasing progress in environmental stewardship, social responsibility and governance.

Safety maintained its position as the foremost priority, with the latest Bulk Carrier Casualty Report revealing positive trends in ship loss reduction despite fleet growth. However, the organisation emphasised that continued vigilance remains essential, particularly regarding cargo liquefaction risks.

The Review addresses critical challenges, including the implementation of the International Maritime Organization's net-zero emissions target, maritime security concerns in the Red Sea region, and the implementation of the Ballast Water Management Convention's.