rss icon Subscribe
desktop mobile

BIMCO Relaunches Ship Benchmarking System

Photo: BIMCO

By Aiswarya Lakshmi

BIMCO relaunches ship benchmarking system Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their fleet.

"The Shipping KPI system enables me, as a shipowner, to make rational strategic decisions on how to run my fleet, by benchmarking with other ships in the segments we compete in. It is an important step for BIMCO in its goal of developing digital solutions for the industry," says Sadan Kaptanoglu, owner of Kaptanoglu Group, President Designate of BIMCO and chair of the Shipping KPI steering group.
Shipping KPI is based on self-reporting by 300 companies and a total of 6000 ships. It enables users to compare performance parameters between ships of similar type, tonnage, trades or flag states, while remaining anonymous.
Users can compare 33 different Key Performance Indicators (KPIs) - for example budget performance, ship availability, contained spills and officer retention. The KPIs are based on 64 individual performance indicators.
BIMCO's short term target is to get more than 10,000 ships into the system to create an even better foundation for comparison and analysis.
"We see Shipping KPI as a community effort. It is by the industry for the industry. It is designed for shipowners and ship managers, to help them compare apples with apples, without giving over proprietary data to their competitors. It enables us at Kaptanoglu Group to manage our fleet better," Kaptanoglu says.
BIMCO has improved the reporting tool and made sure that the reporting values conform to IMO-rules and industry-standards. A lot of work has also gone into improving the user experience.
When you benchmark in the Shipping KPI system, the lowest level you can compare your ship or ships with is the data from a minimum of 10 ships, owned by at least three different companies.
The data is hosted with an external company, which is independently audited to verify its ability to safeguard the data. It should be noted that BIMCO does not have direct access to the data provided by the participating companies.

Feb 23, 2018

 

Classification Societies

ABS Guidance Simplifies Yacht Plan Approval Process

Image: ABS

ABS has published Guidance Notes on Yacht Design and released new Yacht Structure Assessment

LR Grants AiP for LPG-fueled Gas Carrier

David Barrow, LR Commercial Director – Marine & Offshore presenting the AiP to Kisun Chung, Deputy COO in Group Ship/Offshore Marketing of HHI and CEO in Hyundai Global Service at Gastech (Photo: LR)

South Korean shipbuilder Hyundai Heavy Industries (HHI) has received Approval in Principle (AiP)

ABS to Class Singapore's First LNG Bunker Barge

Singapore’s first liquefied natural gas (LNG) bunker barge scheduled to begin construction in January 2019. The 7,500 cubic meter capacity barge will be owned and operated by a

Legal

INSIGHTS: John Rynd / President , CEO and Director, Tidewater Inc.

John Rynd / President , CEO and Director, Tidewater Inc.

Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics.

US Coast Guard Publishes Final Ballast Water Management Reporting Requirement

© tempakul / Adobe Stock

A Final Rule eliminating the requirement for certain vessels that operate on voyages exclusively

Gulftainer Signs 50-year Lease for Port of Wilmington

Peter Richards, Group CEO of Gulftainer; Delaware Gov. John Carney; H.E. Yousef Al Otaiba, Ambassador of the United Arab Emirates to the United States; and Badr Jafar, Chairman of Gulftainer’s Executive Board, at the ceremony marking the Port of Wilmington concession agreement signing. Photo by Gulftainer

Gulftainer, the world’s largest privately-owned independent port operator and logistics company

Maritime Apps