11 March 2021

RightShip Launches Updated 2021 Vetting Criteria

Leading risk assessment and due diligence firm RightShip announces it has expanded its vetting criteria, expanding from 20 to 50 assessment factors.

London March 2021RightShip has today announced that it has expanded its vetting criteria as part of its mission to improve safety and sustainability in the maritime industry and drive the sector beyond base compliance.  

The new criteria extends beyond the previous version from 20 assessment items to 50 items. We have drilled down further in terms of incidents and PSC performance and looked at operator performance in more detail. While the vetting standards have been refreshed consistently in the past 10-12 years, this is a significant expansion. RightShip has added separate and brand-new sections for flag and class, ship structures, engineering, and a comprehensive section on human rights. 

Binary failings have also been made clearer, with the new standard removing any grey areas and enhancing communication of acceptable levels for recommendation. RightShip's vetting standards are at the heart of RightShip's ecosystem. The vetting standard was the inspiration for the Safety Score rules, bringing these two products together as many of the rules for SS1 and SS2 originate from the new vetting standard.  

Improved social responsibility measures were also essential. RightShip has included the following binary criterion: “Any vessel Flagged with a country that has not adopted and ratified the 2006 Maritime Labour Convention and without an equivalent level of compliance (for example a valid ITF Agreement).”  

The dry cargo trade will now have MLC checks in place, with our vetting superintendents providing recommendations based on international maritime law and agreements with trade unions. This ensures that all charterers now take social welfare into consideration every time they select a vessel for a voyage.  

RightShip vets more than 40,000 vessels a year, powered by a global team of vetting superintendents.  

In writing the new standard, the team listened and learned from the practices seen by our vetting teams, chartering customers and vessel managers RightShip has worked to consolidate the trends found from RightShip’s proprietary vessel vetting service, cleansed incident database and close out reports with the latest industry requirements, to better frame acceptability.  

 

General additions to the new criteria are as follows:  

  • The new criteria extends beyond the previous standard from 20 assessment items to 50 items, including new sections for flag and class, ship structures, mechanics, and human rights.  
  • A comprehensive review of incidentsPSC performance and operator performance in more detail.
  • Clearer binary failings. If a vet fails on one of these hurdles, the vessel cannot be recommended at all. 
  • The new criteria removes the grey areas and explains more about the standard of where an owner needs their ships to be in order to be eligible for recommendation. Where appropriate, customers can add more stringent safety or additional geographical criteria on top of RightShip’s standard. However, the new criteria provides greater clarity around the specific items that cover safety, the environment, human rights, operational excellence with the aim of having a unified standard for the industry. 

 

All vessels will be reviewed and receive an “acceptable” recommendation when they get a positive outcome from this criteria review. This delivers more scrutiny and less room for confusion regarding safety, sustainability and social welfare practices.  

Of the enhanced vetting criteria, Steen Lund, CEO, RightShip, said: “The new standard provides far more consistency for all of our chartering customers. We have listened to feedback to ensure it is a unified standard which will be used by all hundreds of chartering customers. This is a positive step forwards in safety standards for the industry. 

We have seen an increased focus on social welfare for a vessel’s crew during 2020. In response, we’ve added in clear expectations regarding human rights, which were not part of the last version. This ensures that all charterers now take social welfare and the rights of our seafarers into consideration every time they select a vessel for a voyage,” he added.  

The new vetting criteria will be applied from 30 June 2021. Charterers may choose to adopt the new standards early.  

 

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