Background and challenge

Asyad Shipping, part of Asyad Group, operates a fleet of 85 vessels including gas carriers, very large crude carriers (VLCCs), product tankers and container ships. The organisation was starting its environmental, social and governance (ESG) journey from the ground up, with no existing reporting structure, centralised data system or defined ESG framework.

ESG data was spread across vessels, technical teams, crewing, health, safety and environment (HSE) functions and onshore operations, with no consistent definitions or ownership of ESG metrics. The business had limited clarity on what to report and which standards to follow. The goal was to build a clear, usable ESG framework from scratch and deliver a credible and practical first sustainability report aligned with international frameworks and relevant to shipping operations.

Solution

Lloyd’s Register (LR) Advisory supported Asyad Shipping in developing a shipping-relevant ESG strategy, its first sustainability report covering financial year 2023 to 2024, and a structured approach to ESG data collection 
and management.

The report was aligned with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) marine transportation standards. The focus throughout was to make ESG implementable and scalable from day one.

Approach taken

LR Advisory conducted ESG awareness sessions across the organisation to build internal understanding of reporting requirements and what they meant in a shipping context. A practical materiality assessment was then performed, tailored specifically to Asyad’s operations, to identify the ESG topics most relevant to the business and its stakeholders.

Clear ESG metrics, ownership structures and data definitions were established, and LR Advisory worked directly with fleet, technical, HSE and corporate teams to identify and organise data across the business. This covered fleet emissions and fuel use, crew safety metrics and governance practices. All disclosures were reviewed and aligned with GRI and SASB standards before being structured into a clear, user friendly sustainability report.

LR Advisory also supported the initial setup of systems and processes for ongoing ESG data tracking, ensuring the client would be able to sustain and scale reporting beyond the first cycle. The approach was iterative and workshop-based throughout, building internal ownership at every stage.

Key client benefits

  • ESG frameworks built for the sector, not adapted from generic templates, and grounded in real vessel operations and maritime risks
  • End-to-end capability building, from data definitions and ownership structures through to a fully aligned sustainability report, delivered within a single reporting cycle
  • Hands-on data mobilisation, working directly with operational teams to extract and structure data that did not previously exist in a usable form
  • Complex ESG requirements translated into clear, practical language that technical and onshore teams could implement
  • Enhanced competitiveness in securing long-term contracts with sustainability conscious clients
  • Structured response to evolving shipping regulations such as CII, EEXI, EU ETS and FuelEU Maritime
  • Internal capability embedded so the client can repeat and scale reporting independently, reducing future dependency on external support
  • A credible, framework-aligned sustainability report that strengthens Asyad’s standing with investors, lenders and regulators.

Impact on customer's business operations 

  • Shifted ESG from a concept to an operational process with defined ownership, metrics and workflows
  • Improved coordination between vessel, technical and corporate teams around ESG data
  • Established a baseline for tracking emissions, safety and governance metrics across the business
  • Supported Asyad Shipping’s IPO – the first within the Asyad Group and a landmark for the business –  by delivering a robust ESG strategy and report ahead of the listing, strengthening investor confidence
  • Positioned Asyad Shipping for future regulatory compliance and third-party assurance
  • Established Asyad Shipping as one of the first maritime organisations in the Middle East to publish an ESG report.

Conclusion

LR Advisory enabled Asyad Shipping to move from no ESG structure to a fully functional, shipping-aligned ESG framework and sustainability report. Central to this was LR’s ability to translate complex ESG requirements into shipping language that operational teams could understand and act on.