Shipping KPIs monthly news September 2018

About Shipping KPI system – KPI018 and KPI032 are revised

The BIMCO Shipping KPI system aims for good user experience  and we therefore actively support customer request and feedback. Recently, after receiving feedback from users about KPI018 – Lost time sickness frequency and KPI032 – Ship availability, Shipping KPI experts decided to discuss and provide a solution for these cases.

We received feedback from Danaos Shipping (Greece) about KPI032 – Ship availability - which they believe is too strict when it comes to minimum requirement. The feedback was received after the company changed to the new formula in v3.0, after which even they have better value than last year. The final rating however is 0, and it seems like the rating mostly 0 confuses the user when they compare the value between the previous version (v2.6) and the present version v3.0. After investigating the case, Shipping KPI experts decided to change the calculation period to “Rolling year” and revert the formula to the previous version (v2.6) which is: 

In the formula, we use “24 x 365” to show how the total hours reflects in the whole rolling year. This conversion formula is used because both PI003 – Actual unavailability and PI062 – Planned unavailability having “HOURS” as unit.

We also received feedback from Misuga Kaiun Co., Ltd. about strict minimum requirement for KPI018 – Lost time sickness frequency. The company described that the KPI rating in most of the cases is zero event if the ship only had one sick case for the whole period. After discussions, Shipping KPI experts decided to change the minimum requirement value from 2.5 to 25 and the target value from 0.5 to 0. With the new changes, the requirement is less strict such as 5 cases = 0%, 4 cases 20%, 3 cases 40%, etc., which allows the company to see the improvements in their performance. Comparing with the previous requirement value, the KPI rating was in most of the period 0 or 100.

The revised version of the KPI standard for KPI032 and KPI018 will be published soon. BIMCO Shipping KPI system appreciates feedbacks from Danaos Shipping and Misuga Kaiun Co., Ltd.. The feedback and input is very valuable and contributes to the improvement of the Shipping KPI system. BIMCO Shipping KPI always welcomes feedback and comments from users. If you have any, please contact the Shipping KPI team:

For more information

Please email any comments and questions to Peter Lundahl Rasmussen: plr@bimco.org.

About BIMCO's Shipping KPI System

  • It has 64 different indicators
  • Provides an accurate comparison of ships
  • Has anonymised data
  • Boosts performance improvements
  • Ship/fleet/industry benchmarking

 

Vy Lee
By Vy Le
in Copenhagen, DK

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