June 4 - Bimco has taken ownership of a Shipping KPI System that allows shipowners and managers to compare their ships' efficiency against the performance of the industry and sector averages.

According to Bimco, the Shipping KPI System is unique because it is based on a standard of 64 different performance indicators to allow the most specific and accurate comparison of ships that is currently available, within each sector and more broadly across the industry.

The data collected is anonymised, so it does not compromise commercially sensitive information.

The KPI Standard covers: health and safety management and performance; HR management performance; environmental performance; navigational safety performance; operational performance; security performance and technical performance.

Having taken ownership of the system, Bimco has said that the system's ongoing development will take into account the broader needs of shipowners and operators, as well as managers, as part of the continued development of the KPI standard.

Bimco will provide the Shipping KPI System free of charge to its members (aside from a nominal set-up fee for new users), and will run the tool for the entire industry on a not-for-profit basis. 

"The Shipping KPI system is unique and valuable to our industry - and we will ensure it continues to be run by industry for industry," said Bimco secretary general Angus Frew.

Philippe Louis Dreyfus, the new president of Bimco, added: "Accurate benchmarking requires data - and the participation of many shipping companies is crucial." 

Initiated in 2003, the system was developed by a cross-industry group of experts, led by InterManager - the international trade association for the ship management industry - and working with the Norwegian Research Council, consultants Marintek, and maritime IT specialists SOFTImpact, and overseen by an independent KPI Association since 2011.

Kuba Szymanski, secretary general of InterManager and part of the core development team for the system, commented: "The KPI system was born out of a need for an international system to define, measure and report on operational performance in an effort to respond to society's increasing demands."