What is BIMCO Shipping KPI?
The BIMCO Shipping KPI System is a global shipping industry tool for defining, measuring and reporting information on operational performance. The Shipping KPI System is used by shipping companies to:
- compare their business performance against the industry standard and potentially identify where efficiency improvements could be made
- clearly communicate their ship operational performance, both internally and externally
- ensure a specific and accurate comparison of both own and other users’ ships and fleets
Data security is paramount, and the reported data is not only anonymous but also only used in an aggregated average for benchmarking. The benchmarking rule is based on not less than 3 other KPI users and a minimum of 10 ships. BIMCO does not have access to any reported performance data.
It is a system for the industry – developed, maintained and operated by the industry.
What is the History?
- 2006: Shipping KPI was developed by a cross-industry group
- 2011:Shipping KPI was launched to the public at IMO
- 2015: BIMCO took ownership of the Shipping KPI
- 2018: BIMCO launched Shipping KPI version 3.0
- 2020: BIMCO Launched Shipping KPI version 4.0
- 2020 BIMCO Launched a new Shipping KPI Group on Cost
What are the key advantages and functions?
- across industry performance benchmarking
- all functions and formulas are fully transparent
- filtered internal & external benchmarking
- graphical overview of ship/fleet status and KPI performance
- easy generation of status and benchmarking reports
- increases transparency within the shipping industry
- measures ships’/fleets’ performance data
- monitoring of internal performance improvement
- online platform (no download required)
- only using aggregated data for benchmarking
- performance Indicators being accumulated into KPI’s
- quarterly reporting as recommended minimum
- secure and anonymous for all users
- size of data pool equals data quality (crowd sourcing)
How does it work?
The Shipping KPI offers shipping organisations the ability to produce a visual representation of how well (or not) a ship performs during a specific time period. It uses a unique standard of Key Performance Indicators (KPIs) and the Ship Attributes that allows users to filter information according to different type and sector of ships. This will allow the user to produce ship reports and benchmark ships and fleets across different types and sectors.
What's new in Version 4?
- Updated PI’s and KPI’s to reflect industry demands
- Improved user-interface
- Shift to ranking concept
- Optional settings for users’ own targets
- Improved visualisation of benchmarking and ranking results
Key Performance Indicators:
KPI034: Total Recordable Case Frequency (TRFC)
KPI035: Total Recordable Case Frequency and First Aid Cases (TRFC & FAC)
KPI024: Operational deficiencies. The formula takes into account the new PI065 Overdue tasks in PMS
PI065: Overdue tasks in PMS
PI066: Medical Treatment Cases (MTC)
PI067: First Aid Cases (FAC)
In replacement of the emissions related KPIs, a new ship attribute is added to reflect the Energy Efficiency Design Index (EEDI). The EEDI value can be found in the ship’s International Energy Efficiency Certificate (IEEC). For the new ship attribute the code META025 is used.
The old concept of Shipping Performance Indexes (SPIs) has been replaced from the concept of KPIs Groups. Compared to SPIs, KPI Groups do not express any form of aggregated performance in any area. No calculation is happening on this level. It’s just used as a grouping criteria. By default, the system makes use of the following groups:
- Health and Safety
- HR Management
- Navigational Safety
- Port State Control
For further information please refer to the documentation available online. In the left hand frame, select the correct version (4) and KPI profile (All or Cost Only) to see the Cost Category information.
As for the BIMCO Shipping KPI is all the reported data belonging to the BIMCO Shipping KPI users.
KPI Cost Group conceptual overview:
- Measuring and comparing of ships’ costs
- Overview of costs at either ship and/or fleet level
- Based on cost categories and cost items
- Flexible annual reporting based on ownership or management days
- User defined reporting period (e.g., Rolling, Fiscal, Calendar)
- Comparison of cost categories at the level reported
- All data is secured, anonymised, and aggregated for not compromising sensitive information
The KPI Cost group aims at providing an overview and initially internal comparison on owners’ direct operational costs at either ship and/or fleet level (excluding initial investment, owner’s items, voyage expenses and financing).
Costs are reported with a list of predefined cost categories. The total cost of a ship is made up of the total of all (main) cost categories. Cost categories can be broken down into sub-categories. The sum of all sub-categories of a specific cost category equals the cost of the category itself.
The system supports data entry of cost categories on all levels (cost category and cost item).
The BIMCO Shipping KPI Cost Group consist of the following elements:
- CC001: Crew
- CC002: Maintenance and repair
- CC003: Insurance
- CC004: Maintenance and repair recoverable
- CC005: Modernisations
- CC006: Compliance
- CC007: General & administration
- CC008: Non-operational cost
Cost Items (37 cost covering the most common ships expenditures)
Cost Factor (Days of Ownership or management of a ship)
Finally, please note that the KPI Cost group is not a fiscal standard nor an accountancy tool for handling companies’ nor ships’ budgets and revenues.
For more information please click here
How do you sign up?
BIMCO members - free annual user fee
For all registered owner member companies of BIMCO who would like to use the KPI System, a one-time setup fee will be charged.
For non-member companies an annual subscription fee and set-up fee will be charged.
up to 9 ships
10 ships and above
Sign up process
If you are already a BIMCO member, your ship and company registration details will be added automatically when you enter your BIMCO membership company registration number.