Q. How does the Qi risk rating consider vessel detention?
Detentions are considered much the same as they were in SVIS. The vessel's rating will be downgraded. Be assured that RightShip closure can alleviate this downgrade where the current close-out process (provision of root cause analysis etc.) remains the same.
Q. Under the Qi risk rating, is PSC Risk considered at a vessel level, or at a terminal/company level?
PSC performance is considered at a vessel level, excluding follow up inspections over the prior 12 month period.
Q. How will an incident influence a vessel's rating going forward?
This depends on the severity and the type of incident.
Generally, the vessel will be downgraded to a maximum rating of 2 stars, where a RightShip Vetting Superintendent will be required to close-out the incident using the existing close-out process (root cause analysis, including corrective and preventative actions).
Once satisfied, a vessel's rating will be re-calculated, depending on other factors considered as part of the calculation.
Q. What is the Qi risk rating predicting?
The risk rating in Qi is predicting the likelihood of a casualty or incident occurring in the next 12 months.
Q. Does Qi provide the ability to view the risk ratings of all vessels in our fleet?
Yes. This is provided in both the fleet lists and company search tools.
By adding a vessel to a fleet list users can monitor fleet performance and changes in risk rating or management, and create alerts to notify users of these changes.
Using the Qi search function, users can search for a company and analyse overall fleet statistics, including the Risk Rating, environmental scores, and the GHG Rating. The resulting data can be exported in an excel spreadsheet for ongoing analysis.
Q. Why is my vessel's risk rating in RightShip Qi different than it was in SVIS?
Essentially, this is because SVIS and RightShip Qi are different risk measurements:
1. SVIS was reactive, and so had to wait for something to go wrong before being considered in the model.
2. RightShip Qi is predictive, and so learns from other ships in similar circumstances. Given the recent fleet renewal we identified an opportunity to get smarter at predicting risk, as there is much inherent risk in waiting for something to go wrong before acting.
When Qi was launched SVIS had been in use for 15 years, and over this time the general safety standards of vessels had gradually improved. This was reflected in the SVIS star rating, so over time, more and more vessels achieved higher rating scores - which was appropriate for the SVIS platform. As such the 'average' rating for a vessel in 2016 was around 4 stars. The problem with this was that 4 or 5 stars indicates a superior vessel, and whilst this was the case in the earlier days of SVIS, more recently it has not always been so.
The Qi platform takes advantage of modern technology and developments in risk rating algorithms, and provides us with a more dynamic risk rating. Qi has been designed so that an 'average' vessel has an 'average' risk rating - which in a 5-star scale, is a 3-star risk rating.
As this response is generic, should you wish to discuss any specific rating changes on your vessels please contact us at firstname.lastname@example.org
Q. How do I improve my vessel's risk rating?
The simplest way to achieve a good model rating is to:
- Sustain incident-free performance
- Sustain PSC performance at a vessel & DOC level
- Retain and maintain strong Class, FLAG & DOC holders
- Provide timely corrective & preventative action when incidents occur
Q. What is the average risk rating?
The average risk rating with RightShip Qi is 3 stars, and this is linked to the solid line in the rating visualisation. Following on from this, a 1 or 2 star vessel is below average; and a 4 or 5 star vessel is above average.
Q. Why don't all vessels have a risk rating?
The risk rating has been targeted to a subset of 50,000+ active commercial trading vessels targeted by our customers.
There are another 120,000+ vessels & barges that are maintained and tracked in our system, and whilst there is no risk rating calculated for these vessels, RightShip Qi provides full visibility and transparency on their performance and activity.
Q. What could cause a star rating to change?
1. Changes to a vessel (e.g. new DOC holder or improving/deteriorating trends in performance)
2. Changes to peer vessels (e.g. PSC deterioration across other vessels with the same DOC)
Vessel-specific performance or attribute changes tend to cause a more rapid change in ratings (see the 'How does the RightShip Qi rating work' article or the 'How do I improve my vessel's rating' FAQ provided above).
Q: Do we still have the previous system of a 2 star rating for 1 year following a PSC detention, which will be restored if closed, as was the case in SVIS?
While a PSC detention is open, a vessel will be limited to 2 stars. Once an investigation report has been reviewed and accepted by a vetting superintendent the risk rating limit will be removed. The review considers including a root cause analysis, corrective action and preventative action as outlined in the Introduction to Root Cause Analysis & this example.
The residual impact of a PSC inspection findings will be considered by the model and the risk rating will be recalculated accordingly. If the vessel received multiple detentions (3 or more over a 2-year window), vessels will be limited to 1 star and will require a deeper analysis.
Q: How does the change in Class affect ratings?
This depends on a few different factors. The new class society’s performance will be considered as part of the regulator risk calculation. This measure then models the interactions with the other variables considered by the model to provide the best prediction of incident likelihood over the next 12 months.
If Continuity Risk is considered by the model, a change in class can potentially affect a vessel’s Continuity Risk, which measure the count in changes over a vessel’s life across DOC holders, flag and Class.
Q: Why are non-IACS class vessels given a standard 2 star rating, even though some may be entered with a P & I club; some established and some belonging to the fixed premium clubs?
A: While both important, the selection of Class and P&I provider are two independent considerations in the vetting process.
P & I clubs do not impact the risk rating of vessels, however certain business rules need to be resolved to achieve a RightShip recommendation surrounding the currency and nature of P & I cover. Tanker vessels need to be entered with an international group member to satisfy ITOPF requirements.
IACS members have requirements which govern the transfer of class, and ensure continuity– these are not in play for non-IACS members. There is also less visibility on the reporting and other significant indicators for these vessels. These are the principal reasons for the 2 star ceiling.
Please note that RightShip do not have a minimum risk rating for providing a recommendation.