Genesis Energy establishes safety targets on an annual basis. The targets are determined by senior HSSE management and operations management and reviewed and approved by the Executive Management Team. Company results relative to the target are used for a variety of internal purposes, including short-term and long-term compensation calculations.
The work hours used to calculate Total Recordable Incident Rate (TRIR) and Lost Time Incident Rate (LTIR) vary across our business segments. Genesis Marine work hours are calculated using the American Waterway Operators (AWO) Safety Statistics Instruction Manual and account for vessels being in operation 24 hours per day 365 days a year. Genesis Alkali work hours are calculated using actual hours worked for non-exempt employees and 8.5 hours a day times working days per month for exempt employees on-site in Green River, Wyoming. Hours for corporate staff located in Philadelphia, Pennsylvania, are calculated by multiplying the total number of employees by 173.3 (work hours per month). The work hours for all other Genesis business segments and the corporate office located in Houston, Texas, are based on the actual hours worked as documented in the company payroll system.
Since we operate very diverse and unique business segments, our overall TRIR and LTIR rates are not relatable to those of our peers. We compare Genesis’ previous years’ targets and results in order to set meaningful goals for the future. We pursue continual improvement of our safety statistics across all of our business segments.
We review contractor safety statistics as part of our contractor qualification process and collect and review recordable incidents and hours for key contractors.
Note: Zero work-related fatalities occurred during the time period above.
Note: The data appearing above is an approximation and is expected to fluctuate and change year over year. It should not be interpreted as being indicative of trends or guarantees of future results. Genesis Energy expressly disclaims any representation or warranty as to the accuracy or completeness of such data. The data may be modified, updated, changed, deleted, or supplemented from time to time without notice.