Overview
BIMCO relaunches ship benchmarking system, a Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their fleet.
Shipping KPIs
Shipping KPI is based on self-reporting by 300 companies from a total of 6000 ships. It enables users to compare performance parameters such as, tonnage, trades or flag states, between ships of similar type 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.
A community tool
BIMCO sees Shipping KPI as a community effort designed by the industry and for the industry. It is optimized for shipowners and ship managers, to help them compare apples with apples, without giving over proprietary data to their competitors. It enables Kaptanoğlu Group to manage their fleet better.
Kaptanoğlu 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”.
Confidential data
When you benchmark in the Shipping KPI system, the lowest level you can compare your ship with the other one, is through the data collected 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.
Free of charge
Shipping KPI is run by BIMCO on a not-for-profit basis. New users have to pay a sign-up fee, but thereafter, the tool is free for BIMCO members. And non-members should pay an additional annual subscription of €1,975.
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Bimco
