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  3. BIMCO launches Version 4 of the Shipping KPI system
BIMCO launches Version 4 of the Shipping KPI system

BIMCO launches Version 4 of the Shipping KPI system

Users will find that new Key Performance Indicators (KPI) and Performance Indicators (PI) have been introduced as BIMCO introduces Version 4 of the Shipping KPI framework, while other functions have been removed to reflect the key performance challenges.

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“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.

The user interface, especially related to the "My Ships" and "Benchmarking" tabs, is one of the most important improvements. A new color scheme for performance and goals and a new dynamic map per ship are included in the improvement; an optional feature to add a picture of a ship is also available.

Version 4 sees a conceptual change from rating to ranking and provides a more productive way of explaining the efficiency of the ship and fleet.

The new ranking system compares the performance of a ship or fleet with one another and positions them in a set of metrics in an order based on their performance, whereas the old rating system evaluated the performance of a ship or fleet on a score of 0-100 without any relation.

Maritime Business World 

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