RightShip has moved to add more transparency to its vetting services with the introduction of a new Safety Score for vessels, built around a defined methodology that focuses on the operational performance at the vessel, DOC holder, flag and class level.
The Safety Score analyses the severity of any previous incidents, the frequency of incidents and any previously identified detentions and deficiencies for a given vessel, while also taking into account the proactivity of operators in managing safety and risk, by looking at their responsiveness to incidents, deficiencies or detentions.
RightShip says that this should help to provide a clear, identifiable path towards improving safety standards and processes, and create a level playing field for all vessels on the water, regardless of type, size, age or builder.
The Score would also allow industry participants to benchmark their safety procedures against the sector’s best performers, as the new system provides a metric that is transparent and only includes factors which are in the control of the operator.
The company expects this change in focus will encourage shipowners to invest in improved processes and technologies that make the entire supply chain safer, if those investments can be reflected in better Scores.
“Our new Safety Score recognises considerable industry feedback calling for greater transparency and control of ratings, and is the result of widespread collaboration with owners, operators, managers, charterers and others across this global industry,” said Martin Crawford-Brunt, CEO at RightShip.
“We have created a balanced score which can be used by all members of the supply chain. For our due diligence customers, it provides a clearer insight to the operational performance of a vessel and DOC holder. The Safety Score is an indicator designed to be used as one of many factors in the due diligence process. Coupled with maritime expertise, it allows for the assessment of a nominated vessel and the provision of a vetting recommendation for a charterer.”
“For the shipowning community, the new Safety Score takes into account management performance and approach, giving owners a true understanding into how they can improve safety across multiple parameters.”
The Safety Score will be housed on the new RightShip Platform, which will replace the current platform Qi as well as the predictive Risk Rating once the Safety Score goes live, with a formal launch planned for September 2020.