Rising fuel costs, oversupply of capacity, turbulent freight rates and pressure on the availability of skilled staff can result in vessel maintenance standards slipping as ship owners cut costs to remain profitable.
With 20% of the fleet responsible for over 50% of casualties, a reliable vetting system, combined with advice and support from maritime professionals is essential for charterers seeking to reduce the risk associated with casualties, cargo damage, costly delays and detentions.
RightShip Qi, our online vetting platform, utilises big data, predictive analytics and real-time risk assessments to predict the likelihood of a vessel having an incident in the next 12 months. Taking into consideration up to 9 key risk factors as well as 4 adjustment factors external to the model, RightShip Qi provides a prediction for each vessel, depicted as a star rating, which is then interpreted and applied together with any specific customer requirements by our experienced vetting superintendents.
RightShip Qi is the only vetting system that incorporates environmental sustainability into the vetting process. Charterers seeking to reduce their bunkers, minimise carbon dioxide emissions and support their company’s sustainability objectives can choose to incorporate energy efficiency into the vetting selection process.
Case Study: Cliffs Asia Pacific Iron Ore Pty Ltd
“We are very happy with the service. Not only do we get immediate evaluations of ships online, but any questions we have are also answered without delay. We find RightShip staff extremely helpful and that helps us look after our clients’ needs.”
Cliffs Asia Pacific Iron Ore Pty Ltd ships over 6 million tonnes of iron ore each year from Western Australia to markets in China and Japan. They also market cargo for other companies as a value add service. Employing Capesize, Panamax and handysize dry bulk vessels in this large shipping task, Cliffs needs reliable support to manage their marine risk.
Cliffs became RightShip subscribers in 2002. Each year they use RightShip's online system to vet over 100 vessels, ensuring cargoes move safely and efficiently.
Export Marketing Co-ordinator Helen Ali says her clients expect quick vessel turnarounds, so it makes a big difference being able to vet ships instantly online.