When vetting vessels for safety, RightShip makes a holistic assessment of the risk associated with selecting a particular vessel for charter, and provides customers with a risk rating ranging from one star (highest risk) to five stars (lowest risk).
A vessel’s risk profile is based on Qi’s algorithm that predicts the likelihood that a vessel will have an incident in the next 12 months.
The interactive graph below shows incident data related to the vetted and non-vetted fleet in 2018. This shows that overall, the vetted fleet is safer than the non-vetted fleet demonstrating that – unsurprisingly – RightShip customers have a heightened safety awareness and tend to select safer-than-average vessels. This data also demonstrates that:
When we drill down to see how the incident rate on the bulk carrier fleet compares with the incident rate on the total fleet (hint: use the top right ‘Select ship type’ toggle and select ‘bulkers’ from the drop-down menu)
In summary? RightShip’s predictive algorithm is effective in identifying higher risk vessels. Please contact our team to learn more.