For two years, the RightShip team has been working to improve its digital services and we are now in the process of upgrading to a new platform. As part of the offering, we have significantly improved our GHG rating. During this evolution, we have liaised with our customers, holding workshops and meetings to source feedback and integrate the insights into our sustainability products.
Our findings indicate that the most important requirement was a better workflow and communication system, which is why all of our interactions with you will now occur in the platform, with real time alerts when a ship’s data is updated.
In terms of the GHG rating itself, most ships won’t experience an immediate change. What you will see is enhanced transparency, better reporting metrics and refined interactions between RightShip and our customers, all in an easy-to-use format.
New GHG Rating features and benefits
The new GHG verification workflow is one of the biggest steps forward. Rather than exchanging emails, you’re able to update details, seek out information and communicate with us directly within the platform. That means GHG verifications will move through our system quicker and outcomes can be provided faster.
For example, a ship owner might go into the platform and request an upgrade to their GHG rating based on recent ship upgrades. It will be entered in the system and throughout the process they’ll receive notifications regarding the request status.
We understand that when a ship owner invests in significant sustainability upgrades, they want that information front and centre, in order to better market their vessel, which is why we’ve brought that information into the spotlight.
For example, if a ship owner has committed to installing energy saving equipment, they have a renewed incentive to communicate this with us. In turn, it is likely to provide a competitive advantage, as charterers increasingly seek to work with sustainability leaders and will look for this in the platform.
Comprehensive rating reporting
In the past, a ship might have received an A+ GHG rating, but we supplied limited data regarding where that ship might sit compared to the global fleet. Now, we are able to provide comparisons with ships within their peer groups, as well as benchmarking reports compared to the world fleet.
In addition, we continue to offer comprehensive advice for ship owners who want to improve their rating. This data is accessible for all users, including banks, charterers, ship owners and ports, which we believe helps to level the playing field in terms of access to information.
Why sustainability has never been more important
In the past year in particular, we have seen a steady growth in the demand for our GHG rating and despite COVID-19, we have recorded an additional spike. This is driven by several changes in the market dynamic.
Historically, ports and terminals in Australia, for example, were more focused on safety, but environmental commitments are now part of the criteria. The demand for low-emission chartering is also climbing. Banks and the boards of large organisations are under stakeholder pressure to do the right thing, in order to reduce the impact on their supply chain. This has a knock-on effect. The reality is that if ship owners don’t improve emissions efficiency, they risk missing out on chartering opportunities. Fortunately, our sustainability team is on hand to offer solutions.
As a result, the number of energy efficiency upgrades we’re seeing is significant and we’re working with several ship owners to help them improve their rating, so their business thrives. Overall, we predict holistic benefits, as more customers proactively look for environmentally friendly vessels, and help us work towards a zero-emissions maritime industry, while also improving their bottom line.
We look forward to bringing these comprehensive GHG ratings and reports to all of you in our new platform, which is rolling out in the coming months.