Shipping KPIs Monthly News June 2019

Herd immunity is a term used within scientific fields such as epidemiology and biology. It defines a single – weaker – organism’s protection against diseases which it is unable to defend itself against. The term is commonly used in disputes concerning vaccinations. However, to some extent the same principle applies to the Shipping KPI.

Considering the amount of data made available through contributions by the community you will get a clear picture of the industry standard today. The expert group working with Shipping is considering various safety precautions, so data is not misleading. Obviously, the best way to have reliable data is to have as much data available as possible. The narrower the filter criteria, the narrower the result will be. Comparison to a limited pool of just a handful of peers (Please note it is not possible to compare with pools smaller than 10 ships from less than 3 sources) will make the result subject to the odd man out. Please observe illustration below.

In the above graph following oddities can be observed:

  • Absence of data caused by the filter criteria fostering a narrow result
  • Low and peak probably caused by the odd man out

The Shipping KPI provides users with a powerful tool to enhance their business, but great consideration should be paid to source of comparison.

Are you considering using trendlines in your daily work? 

  • Click on Benchmark
  • Set up your filter criteria
  • Click on the indicator where you want to see the trend – this applies to both SPI, KPI and PI
  • Click on Trend in the rightmost side of your browser

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

 

Johan Conrad
in Copenhagen, DK

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