{mprestriction ids="1,2"}The Shipping KPI system relies on self-reporting by 300 companies and a total of 6,000 ships, allowing users to compare performance parameters between ships of similar type, tonnage, trades or flag states.

All data is anonymised to conceal which shipping companies are involved, with the lowest level for comparison involving data from a minimum of 10 ships owned by at least three different companies.

The data is hosted with an external service provider, which is independently audited to verify its ability to safeguard the data. BIMCO notes that it does not have direct access to the data provided by the participating companies.

Users of the system can compare 33 different Key Performance Indicators (KPIs), including budget performance, ship availability, contained spills and officer retention. The KPIs are based on 64 individual performance indicators.

BIMCO says that it has improved the reporting tool to make sure that the reporting values conform to IMO rules and industry standards. Its short term target is to get more than 10,000 ships into the system to create an even better foundation for comparison and analysis.

“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,” said Şadan Kaptanoğlu, owner of Kaptanoğlu Group, president designate of BIMCO and chair of the Shipping KPI steering group.

“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 Kaptanoğlu Group to manage our fleet better.”

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 or charged on an annual subscription for non-members.{/mprestriction}