The announcement of RightShip's Safety Score comes few months after the launch of its new Dry Bulk Management Standard , another initiative by the organization towards enhanced safety performance. Similarly to DBMS, the new Safety Score is the outcome of collaboration with stakeholders and provides a metric that is explainable, transparent and only includes factors which are in the control of the operator.

RightShip explains that the Safety Score will be housed on its new Platform, replacing the current platform Qi as well as the predictive Risk Rating once the Safety Score goes live. The Safety Score will be officially available on RightShip platform from this September; however the announcements is being made earlier to provide industry adequate time for preparations.

Safety Score at a glance

RightShip’s previous Risk Rating predicted the likelihood of a vessel having an incident across the next 12 months. The new Safety Score focuses on providing the operational performance at the vessel, DOC holder, flag and class level.

Namely, the Safety Score

  •  uses a refined methodology that analyses the severity of any previous incidents, the frequency of incidents and any previously identified detentions and deficiencies for a given vessel
  • takes account of the proactivity of owners, operators and managers in managing safety and risk, by looking at their responsiveness to incidents, deficiencies or detentions.
  • creates a level playing field for all vessels on the water, regardless of type, size, age or builder, allowing industry participants to benchmark their safety procedures against the sector’s best performers.
  • is intended to help users gain an initial perspective on the operational performance of a potential charter, and to encourage shipowners to invest in improved processes and technologies that make the entire supply chain safer.

Commenting on the launch of the Safety Score, Martin Crawford-Brunt, CEO at RightShip, said: “Our new Safety Score recognises considerable industry feedback calling for greater transparency and control of ratings, and is the result of widespread collaboration with owners, operators, managers, charterers and others across this global industry.We have created a balanced score which can be used by all members of the supply chain. For our due diligence customers, it provides a clearer insight to the operational performance of a vessel and DOC holder.

The Safety Score is an indicator designed to be used as one of many factors in the due diligence process. Coupled with maritime expertise, it allows for the assessment of a nominated vessel and the provision of a vetting recommendation for a charterer, RightShip's CEO also commented.

Overall, the aim of this new tool is to improve safety standards across the industry and drive a new conversation with respect to risk management whilst safeguarding ship operations.

Over the coming months, RightShip is providing a range of resources to support the launch of the new Safety Score and facilitate the transition. These include educational webinars and a dedicated resource page RightShip's website. As explained,existing RightShip members will also be invited to familiarise themselves with the new user interface and functionality during a dedicated Beta testing window, commencing 30th June 2020.

Explore more by viewing related video by RightShip