Fidelity International: Crew change crisis is no longer solely a shipping-industry problem

In a call to action, the London-based Fidelity International addresses that more than 400.000 seafarers are stranded onboard vessels, while a similar number who remain ashore with little prospect for work or pay.

Following the situation, the company plans to write to the United Nations next week and has already requested other investors to co-sign the letter.

As investors, it is clear that this is no longer solely a shipping-industry problem nor a crisis that the shipping industry can resolve on their own.

…as Fidelity International posted on the website of the Principles for Responsible Investment, a global forum for investment firms.

What is more, the investment group noted that more than 30 companies in the shipping and charter field, had asked them to address the problem.

Companies will come under increasing pressure to take responsibility for the welfare of their employees, as well as people working in their supply chains.

…the company added.

Therefore, the issue will be a key priority in 2021 for Fidelity International’s engagement team, which is tasked with lobbying companies to make changes.

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