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New BIMCO Shipping KPI version offers improved benchmarking concept

BIMCO is launching Version 4 of its Shipping KPI system to provide users with improved and more accurate ways of benchmarking their ships and fleets. The new version of the Shipping KPI will feature fundamental changes to the processing of information and include an improved user interface.

As BIMCO launches Version 4 of the Shipping KPI system, users will find that new Key Performance Indicators (KPI) and Performance Indicators (PI) have been added, while others have been removed, in order to reflect the shipping industry’s key performance challenges and regulatory changes.

New scheme for performance and targets

One of the most significant improvements is the user interface, particularly related to the “My Ships” and “Benchmarking” tabs. The improvement includes a new colour scheme for performance and targets and a new dynamic chart per ship; an optional function to add a ships’ photo is also available.

“Relying on an accurate way to measure and compare the performance of ships and fleets is invaluable to shipowners for monitoring and sharing ship performance information with potential charterers,” says Sadan Kaptanoglu, President and Chairperson of BIMCO.

Version 4 sees a conceptual shift from rating to ranking and offers a more effective way to illustrate ship and fleet performance. The new ranking system compares a ship or a fleet’s performance with one another and places them in an order based on their performance in a range of indicators whereas the old rating system assessed a ship or fleet’s performance on a score from 0-100 without any comparison.

Initially, the landing page on www.shipping-kpi.org will remain, but this will be changed and updated later in the year, along with other user-related improvements.