$FRO Crew & COVID-19 Update
Frontline has maintained specific guidelines for its ship managers in addition to a robust emergency management plan adopted in early January in response to the COVID-19 pandemic in order to ensure the health and safety of our employees while maintaining business operations as efficiently as possible. All crewing managers continue to follow the guidance issued by the World Health Organization and the International Chamber of Shipping to ensure that the proper protocols are in place on board our vessels. Our technical department has set up a task force and is hosting regular meetings with all crewing managers across all business segments to discuss and handle any issues, in particular challenges facing our crew and safe operations, as they arise. To date, concerns have primarily related to crew transfers and preventing COVID-19 infections onboard, which would affect our ability to operate effectively.
After global lockdowns prevented crew transfers in the second quarter of 2020, our focus has been to support crewing managers to safely relieve overdue crew. A reduction in the availability of commercial flights and local restrictions in many ports, along with our internal quarantine requirements, have increased costs related to crew change in the third quarter of 2020. Approximately 720 seafarers will be repatriated in the fourth quarter of 2020 at an estimated cost of $1.5 million.
ESG Update
Efficient, safe and transparent operations have been Frontline core values for years. At Frontline, an Environmental, Social and Governance ("ESG") Strategy means to structure our communication on how our core values are embedded in our day-to-day operations, through the lens of capturing ESG relevant markers. As a significant force in the shipping industry, directly and indirectly through our business model, we have great influence on the standards we expect to be met.
Frontline's ESG report, which can be found on the Company’s website, has been prepared to provide investors and stakeholders easy, transparent access to our ESG reporting. Our ESG report has been prepared in accordance with the Marine Transportation framework established by the Sustainability Accounting Standards Board ("SASB"). The SASB standard allows us to identify, manage and report on material ESG topics with industry specific performance metrics.
