Message From the CEO

2021 was a productive and transformative year for CSL.

Despite the ongoing disruptions caused by the COVID-19 pandemic, we continued to make important strides to drive our business forward and progress on our environmental, social and governance (ESG) objectives. The many challenges and additional strains of the pandemic didn’t slow down our talented and resilient ship and shore teams, who continued to provide the safe and sustainable marine transportation solutions our customers rely on. Working together as a strong and cohesive team, our seafarers and shore side staff demonstrated every day that CSL is a company fueled by ingenuity and a sense of responsibility toward people and our planet. I am extremely proud of the way our employees not only adapted to a volatile and complex operating environment but learned to grow within it. The lessons learned over the past two years have helped us refine our priorities when it comes to corporate responsibility and double down on initiatives to support our goal of Zero Harm. In November 2021, we successfully completed the world’s longest-running trials of B100 biodiesel on marine engines, accumulating nearly 30,000 running hours. Reducing the carbon footprint of our fleet is a strategic imperative at CSL. While biofuel is one of many decarbonization strategies we are exploring, our test results confirmed its potential as a realistic alternative to fossil fuel that offers immediate and significant carbon reductions.

Upgrading our fleet with safer and more environmentally friendly ships is equally important and we were delighted to welcome four new vessels, including our cutting-edge MV Nukumi – the first diesel-electric Laker and first single point loader to operate in Canada.

It was also an honour for CSL to join forces with long-time collaborator, Canadian engineering firm EMS-Tech Inc., as a minority stakeholder. This new partnership will leverage our shared capabilities to produce a full range of safe, sustainable and high-performing cargo handling systems. In 2022 and beyond, we look forward to exploring new opportunities to grow our business, and where our ESG priorities will continue to play center stage. As a socially responsible marine shipping company, we recognize our responsibility to protect the people who work on our ships, the communities in which we operate, and the waterways that are the lifeline of our industry.

Louis Martel

President and Chief Executive Officer