15 December 2020

Getting ready for the new Safety Score – A guide for vet requesting customers

After taking on industry feedback, RightShip reviewed its Safety Score and enhanced it through industry collaboration. 

As a result, we opened the new viewing window for our beta Platform with the revised Safety Scores on 30 November 2020. Customers can now log in and become familiar with the improvements and application of the rules and model to better understand scores that require resolutions. 

The present beta service is still in development and scores are indicative only, meaning these results are not suitable for trade decisions until our formal launch. It is important to note that the data in our beta Platform will not be refreshed before the week of 4 January 2021. From this time, customers will be able to submit their ‘request a review’ for rules in safety scores 1 and 2 within the beta platform. 

The new Safety Score will go live in the first quarter of 2021 and we will provide more updates in January. 

 

For vet requesting customers: how to use RightShip’s complementary products and services to reduce risk 

 

The data from RightShip’s Safety Score and dry bulk vessel inspections, combined with our due diligence service allows our customers to take a holistic approach to risk and safety. While you will find the Safety Score and bulk inspection outcomes useful for real time performance and quality background checks, our vessel vetting service will help you carry out your internal risk assessment and understand the suitability of a vessel for your cargo, terminal or company risk profile. When all of these products are engaged, you have a complete view of a vessel’s suitability. 

During our vetting process, we consider a range of inputs and assessments, including the Safety Score, to provide a reliable recommendation. 

The Safety Score provides distinct and clear lines as to the operational performance of a vessel for our due diligence customers, however any vessel with a Safety Score between one and five could be recommended by RightShip after completing the whole vetting process satisfactorily: 

  • SS N/A: Vessels which are out of scope for the Safety Score. In some cases, these vessels may receive an “acceptable” recommendation once the vetting process has been completed. 
  • SS 0: Vessels which have been flagged as sanctioned. These vessels cannot receive a positive vetting outcome therefore the “request a vet” button is disabled for these vessels. 
  • SS1 & 2: Vessels which need improvement to achieve the industry agreed standards of “good” operations. These vessels may be recommended by RightShip’s Vetting Superintendents but will require investigation and more information from the vessel’s manager. 
  • SS3 – 5: Vessels which are working towards best practise in safe operations. In order to complete the full RightShip due diligence process, customers must complete a vet for these vessels. The outcome includes a timestamped recommendation based on the vessel’s specification, particular cargo and determined voyage. 

The due diligence process may also be supported by the results of a physical inspection onboard to confirm the required improvements to address historic operational performance concerns have been implemented onboard satisfactorily. 

The Safety Score provides a very different view of a vessel than the Qi Predictive Risk Rating. It is not a like for like replacement and therefore cannot be used in the same way as the Risk Rating. 

We recommend that all references to a minimum Risk (or Star) Rating in any commercial contracts instead be replaced with the requirement to complete the vetting process. As explained above, the vetting process is designed to consider additional factors and clarifications beyond the Safety Score to produce a clear and trusted recommendation. 

If you have any questions in the meantime, please contact us: info@rightship.com 

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