BIMCO has announced that it has taken ownership of a shipping KPI system that allows ship-owners and managers to compare their ships’ efficiency against the performance of the industry and sector averages.
BIMCO previously released a multi-part guidance resource in collaboration with Fathom, which aims to help shippers lower their environmental impact.
The KPI system is based on a standard of 64 different performance indicators (such as ship unavailability and number of environmental related deficiencies) to allow the most specific and accurate comparison of ships – within each sector and more broadly across the industry – that is currently available. The data collected is anonymised, so it does not compromise commercially sensitive information.
BIMCO will take ownership of the system and has also announced that the system’s ongoing development will take into account the broader needs of shipowners and operators, as well as managers, as part of the continued development of the KPI standard.
BIMCO will provide the Shipping KPI System free of charge to its members and will run the tool for the entire industry on a not-for-profit basis, focusing on the value of the tool for the industry.
Angus Frew, Secretary General of BIMCO, said: “The shipping KPI system is unique and valuable to our industry – and we will ensure it continues to be run by industry for industry.
“We will seek to ensure that it becomes the indispensable and trusted tool of all ship owners, operators and managers, allowing them to benchmark and monitor their company and ship performance to drive improvements– without compromising their commercial data.”
Philippe Louis Dreyfus, President of BIMCO, said: “Accurate benchmarking requires data – and the participation of many shipping companies is crucial. BIMCO is uniquely placed to make this a success, by having the largest membership of any international shipping association – and the trust and recognition across the industry globally.”
Initiated in 2003, the system was developed by a cross-industry group of experts, led by InterManager – the international trade association for the ship management industry – and working with the Norwegian Research Council, consultants Marintek, maritime IT specialists SOFTImpact and overseen by an independent KPI Association since 2011.”