SOCIAL
Within Danaos, we acknowledge the pivotal role that our human capital, comprising both our onshore staff and seafarers, plays in steering our company towards success and continued expansion. They represent our primary stakeholders, and their well being and development are of utmost importance to us. Our focus lies in attracting top-tier talent, offering ongoing training opportunities, and fostering avenues for career progression. We prioritize cultivating a work environment that encourages engagement, supports the holistic wellness of our employees, and promotes inclusivity at every level. By investing in the growth and satisfaction of our workforce, Danaos endeavors to fortify its foundation for sustainable progress and to fulfill its ESG commitments.
MATERIAL
ISSUES
Diversity, Equal Opportunities and non-discrimination
Occupational Health & Safety
Training and Education
Child Labor
Forced and Compulsory Labor
Security Practices
Humans’ rights policy
GOALS
2021-2025
Status: 15 out of 19 social goals for
2025 have been already embedded
in 2023
OCCUPATIONAL
HEALTH & SAFETY
At early stage we developed a documented Safety Management System (the DSMS) fulfilling the requirements of the ISM Code. Since 2002 -when the Code became mandatory for containerships- the DSMS has being audited successfully and Danaos maintains its Document of Compliance (the “license to operate” of shipping) valid throughout the years.
The health and safety of our people are paramount to the well-being of our people, and we are working towards the safest possible conditions through the implementation of an Occupational Health and Safety regime. This regime includes:
• The application of best practices in ship operation and working environment in order to prevent injuries
• Continual, flexible, and regularly reviewed risk assessment for vessels, cargo and environment
• The ongoing development of the health and safety skills of our people
The main objective of the policy is to start and finish the day safe and healthy.
It is important to recognize that the Company is responsible for identifying the risks associated with its ships, operations, and trade. Consequently, our Safety, Quality & Environmental team experts having long sea-going experience prepared a library with various risk assessments related to shipboard operations and their respective controls to achieve a Healthy and Safe working environment onboard the ship, and to achieve a friendly environmental impact from the ship’s operations. During the on vessels Health & Safety visits, Safety Duality and Environmental team experts contacted the seafarers to record their opinions and their experiences about near misses, situations that might lead to Lost Time Injuries. The recordings are evaluated both at vessel level and at company level to improve the Health & Safety System in place and the Risk Assessment.
• Anchoring
• Arrival – Departure
• Bunkering
• Cargo Operations
• Defective Equipment
• Emergency preparedness
• Environmental Operations
• Health – Hygiene
• Maintenance & Repairs
• Management of change
• Mooring
• Navigation
• Safety preparedness
• Security preparedness
• Use of tools
• Various Shipboard Activities
• SEEMP
DRILLS
These drill reports are transmitted to the office and reviewed by the SQE Superintendents. In 2023, a total of 4,899 drills performed onboard Danaos Fleet.
In 2023, a total of 4,899 drills performed onboard Danaos Fleet.
Our policy clearly states that all incidents are reported, investigated, and analyzed to prevent similar incidents in the future. We train our people on board and actively engage them in recognizing and reporting near misses. These minor incidents are regarded as warnings signals for procedures and practices that merit revision and remediation. All incidents are investigated by the ship’s Master, with the support of the safety Officer, seafarers’ safety representative or any other member of the Safety, Environmental & MLC Committee.
Danaos uses the most objective measuring tool, the Loss Time Injury Frequency (LTIF) which measures the number of hours a seafarer is unable to work due to injury. To further decrease the LTIF rate we have incorporated the Lockout/ Tagout system which is used to control hazardous energy. Additionally, from 2018 onwards we started implementing a Behavior Based System approach in order to address the factors that influence and reinforce learning and behavior. Successful implementation leads to significant improvements to the safety performance, and through the BBS (Behavior Based Safety) approach we aim to create a “total safety culture” throughout the company.
The year 2023 we continued to use the UDE (Undesired event) application in our platform for our accident/incidents analysis reporting and implemented various improvements to have a clear view on the conditions under which an event occurred and closely followed up the corrective actions taken onboard. At the same time, we emphasized best practices which enhance onboard safety to raise crew awareness.
All seafarers actively participate in the onboard Safety & Environmental Meeting performed at least once per month. This is a formal meeting where a set agenda includes, among others, health and safety issues for discussion. The Safety, Environmental & MLC Committee comprises of crew representatives and is tasked to prepare the agen- da for the meeting. The Committee works with the sole goal of enhancing the health, safety & environmental standard on board ships by ensuring that all Health, Safety & Environmental procedures and practices are followed by the ship’s crew members. Its role and main tasks are clearly defined in the Company’s SMS.
All systems of Danaos Safety Management are audited internally by the Safety Quality and Environmental Department and externally by Recognized Organizations, members of IACS. Unscheduled audits are performed if a serious deficiency in any part of the DSMS becomes evident during third party inspections. Audit findings, Non-Conformities or Observation notes are collectively analyzed and evaluated during the management review process. In pursuit of man- agerial excellence, we have established our own KPIs by participating in the BIMCO SHIPPING KPIs. Findings that pose a serious threat to the safety of personnel or the ship or a serious risk to the environment are analyzed with the RCA (Root Cause Analysis) method and immediate corrective action is undertaken.
Different types of inspections carried out on- board on our Fleet to ensure that our system remains in compliance with the ISM/ISPS Code, the ISO 9001, ISO 14001, ISO 50001 standards and the MLC Convention. Our vessels’ certification was endorsed successfully. Table below presents the number of audits per type of audit for the last two years.
During 3rd-party MLC inspections it is verified that all seafarers enjoy decent living and working conditions onboard and that their employment agreements and payment of wages are in accordance with the applicable collective bargaining agreements.
In the year 2023 for our containers fleet the total number of recorded deficiencies was 389 and the total number of detentions amounted to five (5). For the bulk carrier fleet, the numbers represent the data of the 4th quarter of 2023 when ships were acquired. No fatalities recorded for 2023.
No fatalities recorded for 2023. The total number of recorded deficiencies was 14 and zero (0) detentions.
DANAOS CORPORATION
ESG REPORT 2023
CRISIS MANAGEMENT
AND EMERGENCY PLANNING
Danaos has taken all necessary measures and resources to protect people, vessels and operations in case of an emergency. We have established procedures to identify potential emergency situations and we have prepared the relevant plans. The plans are communicated to all employees and crew members, and we provide response training. An important parameter for our emergency preparedness system is our hands-on management system on board every vessel, detailed in the Ship Security Plan (“SSP”).
All employees, crew members, visitors, inspectors, suppliers, and any third party seeking to board the ship are also required to comply with the SSP. There is a number of risks associated with the shipping industry and therefore we have policies and procedures for risk assessment onboard our vessels. A specific Emergency Response Plan and an in-house Emergency Response Service system have been developed to support the whole process and provide specific instructions and task allocations.
DIVERSITY, EQUAL OPPORTUNITIES,
AND NON-DISCRIMINATION
Danaos maintains a steadfast commitment to fostering a workplace culture that prioritizes safety, respect, and inclusivity for all employees and passengers. Central to this commitment is the company’s zero-tolerance policy against violence and harassment in any form.
At Danaos, we are committed to creating and maintaining a diverse, inclusive, and equitable workplace that values and respects all individuals. We believe that diversity and inclusion are essential to our success, and we strive to foster a culture of respect, inclusion, and belonging for all our employees, regardless of their age, sex, race, ethnic origin, disability, family and marital status, religion, belief, pregnancy, gender identity and expression, sexual orientation, nationality, or any other characteristic protected by law.
This Diversity, Equal Opportunities and Inclusion policy applies to all aspects of employment at Danaos Shipping, including recruitment, training, performance management, career development, rewards, code of conduct, facilities, and termination of employment. The principles of equity, diversity, and inclusion also apply to our interactions with external stakeholders such as clients, agents, and suppliers.
At Danaos, we are committed to creating and maintaining a diverse, inclusive, and equitable workplace that values and respects all individuals.
Our workforce comprises office employees hailing from five (5) different nationalities, while our seafarers proudly represent a diverse array of seven (7) nationalities and we expect from everyone to uphold and promote the values of equity, diversity, and inclusion in their daily work.
At Danaos, every employee, from the crew on- board to the management team onshore, is expected to adhere to the highest standards of professional conduct. This includes treating others with dignity and respect and refraining from engaging in any behavior that could be construed as violent, abusive, or harassing.
To reinforce this commitment, Danaos has implemented comprehensive policies and procedures designed to prevent and address incidents of violence and harassment effectively. These policies are communicated clearly to all employees through training programs and written guidelines, ensuring that everyone understands their rights and responsibilities in maintaining a safe and respectful workplace environment.
During 2023 a series of Diversity, Equality and Inclusion (DEI) & Prohibition of Violence & Harassment awareness sessions were successfully completed among the people of Danaos, including modules on cultural awareness, inclusion, and equal opportunity employment, promoting a workplace environment that values and respects the uniqueness of every individual. By exploring and challenging implicit biases, employees gained a deeper understanding of our own perspectives, enabling them to interact more fairly and equitably with others and building stronger relationships with people from diverse backgrounds.
The familiarization process for all new employees and top officers of vessels includes comprehensive training on the principles of Diversity and Inclusion.
This crucial component ensures that every member of the Danaos team is wellversed in promoting a workplace culture that values and respects individual differences. In addition to the onboarding training, Danaos provides accessible online courses through its training platform, ensuring that seafarers across the organization have the opportunity to further enhance their understanding of Diversity and Inclusion, contributing to a harmonious and supportive environment both onshore and at sea.
In 2023 no incidents of discrimination, violence & harassment have been reported through our online applications.
In our ongoing commitment to sustainability and social responsibility, Danaos participates in All Aboard Alliance. This coalition, comprising senior leaders from various sectors of the maritime industry, shares a collective vision centered on enhancing diversity, equity, and inclusion within our organizations, both at sea and onshore. By fostering collaboration and cooperation, the All Aboard Alliance aims to drive positive change and pave the way for a more sustainable, forward-thinking, and innovative maritime industry. Danaos recognizes the critical importance of diversity and inclusion in fostering a vibrant and resilient workforce, and we are excited to be part of this impactful initiative. Through our participation, we reaffirm our dedication to promoting positive social change within our industry and beyond.
The below figures indicate the age diversity of both for Office employees and Seafarers, the gender diversity in Managerial positions, the gender diversity in STEM positions of office employees and the gender pay gap in the positions representing by genders for office employees.
In 2023 no incidents of discrimination, violence & harassment have been reported through our online applications.
In our ongoing commitment to sustainability and social responsibility, Danaos participates in All Aboard Alliance.
HUMAN CAPITAL
OUR EMPLOYEES
Our employees are a proficient team of individuals possessing extensive experience in the shipping industry and the containership market. We establish and oversee processes across various departments, emphasizing continuous professional development and training. The noteworthy employee retention rate serves as a key indicator of both employee satisfaction and our dedicated efforts to engage them effectively. Danaos actively champions workplace equality by formulating fair and inclusive policies and practices, ensuring transparency in pay structures.
• The average age of employees is 39.8 years old.
• We are 173 employees, 37% are women and women participation in management is 19%.
• The turnover rate for office employees is 12.7% while volunteer turnover rate is 8.6%.
• We hired 50 new employees and 15 summer interns.
• The new hires represent 28.9% of employees.
• Employees with post graduate studies (MSc, MBA, PhD) represent 54.3% of employees.
• The total training hours are 3,367 and correspond to 19hrs per employee.
• “Suggestion Box” is an annual competition that empowers individuals to voice their suggestions, fostering innovation and creativity, with the added incentive of rewards for valuable contributions. The participation rate of the “Suggestion Box” remains high. This year we received 44 ideas from 30 participants and 4 of them were awarded.
OUR EMPLOYEES
Our Seafarers play a pivotal role in Danaos, facilitating global trade, and ensuring the smooth vessels operations. Their unique profession demands a combination of technical expertise, resilience, and adaptability, making seafaring a distinctive and challenging occupation. Safety, the well-being and the advancement of our crew are key to our operations, forming the core of our business. We maintain a close relationship with each member, prioritizing their regular training and career development.
As of December 31, 2023:
• 1,718 seafarers were onboard our ships
• The average age of our seafarer was 36
• We offer a diverse working environment with seafarers of 7 nationalities
• The crew retention rate was 81.08%
• We offered 34,077 training hours
• 312 Seafarers were promoted
The noteworthy employee retention rate serves as a key indicator of both employee and seafarers satisfaction and our dedicated efforts to engage our staff effectively.
HUMAN CAPITAL DEVELOPMENT
THROUGH TRAINING
The training combines theoretical knowledge and practical training, tests, and enhanced competence by using actual scenarios as simulation exercises.
DATC has been certified and accredited by Lloyd’s Register of shipping and the DMS (Cyprus Government Department of Merchant shipping) with the Approved Training Provider Certificate and the ISO 9001:2015 Certificate. The DATC personnel continuously support and cooperate with all the Company’s departments for the identification of their specific training needs and thus providing training activities aimed to further enhance their knowledge, awareness, competence, and performance.
• BR(T)M: Bridge Resource Management
• MRM: Maritime Resource Management
• Damage Stability and Damage Control
• Multi-Cultural Teams and Effective
IN HOUSE TRAINING
DEPARTMENT
WELCOMING OUR ONLINE
TRAINING PLATFORM
Embarking on a new phase of professional development, during 2023 we introduced our advanced Online Training Platform, customized exclusively for the maritime excellence of Danaos.
SEAFARERS TRAINING: NAVIGATING THE
PATH TO EXCELLENCE
Seafaring is a demanding profession that requires a unique set of skills and knowledge to navigate the vast and challenging expanses of the world’s oceans. Seafarers training is a dynamic and evolving process designed to prepare individuals for the complexities of maritime life.
We invest in training that promotes safety, efficiency,
environmental awareness, and multicultural communication. By prioritizing technical proficiency, safety, environmental awareness, and continuous learning, these programs contribute to the competence and professionalism of seafarers, ensuring the reliability and safety
of global shipping operations.
As such, we have developed our own training programs with in-house seminars and pre-boarding training. We continuously identify training needs for employees and seafarers, and we have designed a customized training program to ensure safety awareness and competence.
It is important that employees and seafarers are provided with training on:
• Safety
• Environmental policy and goals
• Relevant environmental aspects
• Operational, monitoring and contingency procedures
• Updates in laws and regulations affecting ships’ operations
• Day to day activities
Our computer-based training programs, ensure the evaluation and appraisal of seagoing and shore-based employees on an ongoing basis
throughout the course of employment. A variety of seminars specifically designed for Danaos Shipping are held in our premises.
During 2023, Danaos took proactive steps in shaping its future by organizing comprehensive Cadet Training programs aimed at cultivating the next generation of Danaos Officers.
During 2023, Danaos took proactive steps in shaping its future by organizing comprehensive Cadet Training programs aimed at cultivating the next generation of Danaos Officers.
Seafarers Training Hours (Drills not included) Total 34,077.5 Hours Average Hours per seafarer: 21.5
ON SHORE
EMPLOYEES
Our dedication to employee growth is evident in the 3,367 hours of training offered during the year, delivered through various methods such as instructor-led sessions, webinars, seminars, and other interactive platforms.
DIGITAL SKILLS
DEVELOPMENT PROGRAM
Danaos Shipping has taken a significant step by implementing a comprehensive Digital Skills Development program for its office employees.
TALENT DEVELOPMENT
TRAINING PROGRAM
Danaos Shipping has recently offered 460 hours of training through a transformative Talent Development Training Program, extending its commitment to fostering the professional growth of both office managers and employees.
NEW PERFORMANCE
MANAGEMENT SYSTEM
In 2023, Danaos took a significant stride towards fostering a culture of fairness, transparency, and continuous growth for its employees by introducing a cutting-edge Performance Management system.
SEAFARERS
DEVELOPMENT
INTRODUCTION OF
CAREER PATH FRAMEWORK
Our Career Path Framework is an integral component of our broader Human Resources Management strategy, which encompasses Performance Management, Talent Management, and Training & Development.
Additionally, 3.5% of our employees embraced new opportunities for growth and development by transitioning to different roles within the company. These statistics highlight our unwavering support for career progression and mobility, ensuring that every individual has the chance to thrive and contribute to our collective success.
TALENT ATTRACTION
HUMAN RIGHTS POLICY
We are committed to upholding the fundamental principles of human rights in all aspects of our business operations. We recognize that our activities have the potential to impact on the lives and wellbeing of our employees, customers, suppliers, and the communities in which we operate. Danaos Human Rights Policy shows the voluntary expression of our commitment and promotes respect for human rights throughout our supply chain and business practices.
We are dedicated to promoting and protecting the inherent dignity of every individual, regardless of their race, color, gender, sexual orientation, age, religion, disability, or any other characteristic protected by applicable laws and internationally recognized human rights. Discrimination, harassment, and any form of abuse will not be tolerated within our company.
LABOR RIGHTS
We commit to upholding the rights of all workers, including:
• Freedom of Association: Employees have the right to join or not join trade unions or workers’ organizations of their choice, without fear of retaliation or discrimination. On top of that 100% of our employees are covered by collective bargaining agreements.
• Fair Wages and Benefits: We provide fair and competitive compensation packages that meet or exceed legal and industry standards.
• Safe and Healthy Workplace: Danaos Shipping ensures that all employees and seafarers have a safe and healthy working environment by complying with all relevant health and safety regulations.
• Child Labor: We strictly adhere to minimum age requirements in accordance with international labor standards.
HUMAN RIGHTS REVIEW IN
OUR SUPPLY CHAIN
ENVIRONMENTAL RESPONSIBILITY
THE SUPPLY CHAIN
We recognize the interconnectedness of environmental sustainability and human rights. We take steps to reduce our environmental impact, contribute to the fight against climate change, and protect the rights of future generations to a healthy and sustainable environment.
COMPLIANCE MEASURES
CONTINUOUS IMPROVEMENT
We are committed to continually improving our human rights performance. This includes regular assessments, training for our employees and suppliers, and actively engaging with human rights organizations and initiatives. To enrich this process and ensure its effectiveness, we adopt the following stakeholder engagement strategies:
At Danaos, we firmly believe that respecting and promoting human rights is not only a moral obligation but also essential for the long-term success and sustainability of our business. We work diligently to uphold these principles and we encourage all our stakeholders to join us in this endeavor.
REPORTING A BREACH OF
HUMAN RIGHTS
DANAOS IS GREAT PLACE TO WORK
In our ongoing commitment to fostering a positive and inclusive workplace, we conducted an Employee Engagement Survey in December 2023. As a result, Danaos received official certification as a "Great Place to Work" from the renowned organization, Great Place to Work, with a survey score of 78%. This survey aimed to evaluate the sentiments, perceptions, and overall satisfaction of our valued employees. 90% of our people stated “I am proud to tell others I work here” and 80% stated that the company is a Great Place to Work.
WELLNESS AT WORK
At Danaos Shipping, we prioritize the wellness of our people above all else. Recognizing the importance of mental health, we offer comprehensive mental health courses tailored for our office employees, ensuring they have the tools and support needed to maintain emotional well-being. In 2023, we conducted our first in-house Mental Health Seminar, and we immersed ourselves in enlightening discussions, acquired valuable strategies, and embraced the significance of mental well-being in our everyday life. The engagement and openness of our people created a supportive atmosphere that truly embodies the spirit of Danaos. Additionally, we foster a culture of physical activity and camaraderie by organizing sport activities through teams and tournaments, promoting both fitness and teamwork. Our commitment to employee wellness extends further with regular check-ups and access to an office doctor, ensuring that our team members have the necessary support to thrive both personally and professionally.
At Danaos, we deeply care about the wellness of our seafarers, recognizing the unique challenges they face while spending extended periods at sea. To support their well-being, we provide essential amenities such as internet access onboard, enabling them to stay connected with loved ones and access valuable resources during their time away from home.
Additionally, we offer comprehensive wellness courses specifically designed for seafarers, covering topics ranging from stress management to mental health awareness. Through these initiatives, we strive to ensure that our seafarers have the necessary tools and support to maintain their physical and emotional well-being while at sea, ultimately fostering a safer and more fulfilling work environment.
Danaos is committed to prioritizing the wellness and welfare of our seafarers, recognizing the vital role they play in our operations. As part of this ongoing commitment, we are pleased to announce a significant investment of 1.5 million USD into upgrading communication systems on- board our vessels. This investment will enable us to offer seafarers an enhanced onboard experience, including three to six times more free internet access. We believe that improved connectivity will not only contribute to the well-being of our crew members but also facilitate better communication with their loved ones, enhancing their overall quality of life while at sea. Danaos remains dedicated to continuously improving the working conditions and welfare of our seafarers, ensuring their safety, comfort, and satisfaction throughout their employment with us.
TRANSPARENCY AND
ACCOUNTABILITY
Danaos aims to be between the more transparent shipping companies globally. On this purpose company established a series of initiatives, reports, and tools to collect and communicate data to all interested parties. Series of commitments and relevant policies address the data collection, data analysis and data communication on several areas of our operations such as sustainable development, compliance with IMO and
EU MRV regulations, energy consumption and related emissions, employees assessment and development and interactions with members of value chain.
Danaos Management System safeguards the accountability between the departments and the employees.
CHILD LABOR, FORCED AND
COMPULSORY LABOR
SECURITY PRACTICES
CSR EMPLOYEE
INITIATIVES
OUR STRONG COMMUNITY
ENGAGEMENT
EMPOWERING COMMUNITIES:
DANAOS SHIPPING’S COMMITMENT
TO HEALTH AND INCLUSIVITY
well-being, and inclusivity in our society. With the “Act of Joy” initiative we donate NGOs protecting children.
In 2023, Danaos took a significant step towards promoting employee well-being and supporting the broader community by establishing the Danaos Blood Bank. This innovative initiative provided employees with the opportunity to donate blood, not only benefiting their colleagues and their families in times of need but also making a meaningful contribution to the overall health system of the country.
FOSTERING MARITIME EDUCATION:
DANAOS SHIPPING’S IMPACT ON
FUTURE PROFESSIONALS
Furthermore, our involvement in the “Adopt a Ship” initiative, led by “Project Connect,” reflects our commitment to education and community involvement. Within this pioneering program, we’ve chosen to support 10 vessels throughout an academic year, linking primary and high school students with seafarers. This endeavor is designed to educate young individuals about the maritime profession and industry, enhancing their comprehension and respect for maritime careers, all while fostering valuable connections between students and maritime professionals.
We are thrilled to share that Danaos has just set sail for an enriching series of “Students Onboard” Educational Voyages. This initiative is an integral part of the “Management in Maritime Science and Technology” Master’s Program, offered by the University of Piraeus and the Hellenic Naval Academy and aims to enhance the educational experience of graduate students enrolled in the program. During these voyages, students are provided with a unique opportunity to embark on journeys between two or more ports and spend up to a week on Danaos vessels. Participants will have the chance to immerse themselves in real-world maritime operations and gain practical insights into the industry.
Danaos Shipping remains dedicated to nurturing the next generation of maritime professionals by actively engaging with academic institutions and schools. In 2023, we had the privilege of hosting a total of 254 students from Greek and International Universities, along with over 100 students from local schools.
CHARTING FUTURES:
DANAOS SUMMER
INTERNSHIP EXPERIENCE
“Success is determined not by the completion of some action, but by how one engages in all action with wisdom and intelligence” Plato (427 – 347 B.C.E)
EMPOWERING
THE NEXT GENERATION
Danaos Scholarships reflect our dedication to supporting talented and motivated individuals pursuing education in fields related to the maritime industry.
DANAOS SHIPPING:
LEADING THE WAY
IN ENVIRONMENTAL
RESPONSIBILITY
ESG AWARDS
Danaos was proudly represented in the ESG Shipping Awards
and was awarded in the below 3 categories:
Governance (Gold)
Environment (Gold)
ESG Leader (Bronze)
