Title: Risk Assessment in Shipping Companies Intertanko Vetting Seminar Singapore 29th November 2005
1Risk Assessment in Shipping Companies
Intertanko Vetting Seminar Singapore29th
November 2005
- Anuj Sahai
- Lloyds Register Asia, Singapore
2Risk Assessment Do the shipping companies do it
well?
Risk ManagementAre shipboard risks well
managed?
3Leading indicators
Source Fearnleys, ITOPF
4Leading indicators
- 99.99999 of oil is safely delivered.
Source Intertanko
5Leading indicators
Source LMIS, Informa, press, INTERTANKO
6Perception
- The risks are well managed.
- Further improvements - only incremental.
- Risk Assessments why?
7Risk Assessment requirements
- Deficiencies
- Critical systems and equipment
- Health risk assessments
- Management of Change
- Near misses
8Reality
- IMO / Flag regulated
- Reactive not proactive
- Why fix it, if it aint broken?
- Compliance driven
9Risk Assessments
10Why Risk Assessments?
- ISM Code Implicit
- OCIMF TMSA
- Manage shipboard risks better
- Continuous Improvements
11Suggested Approach
12- Are your assessments
- being effective?
- Business or safety performance improvements?
- Can the benefits be measured?
13Link Risk Assessment to Performance (KPIs)
- LTIF
- LTAs
- Non-budgeted repair costs
- PSC results
- Insurance claims
- To crews! Retention Satisfaction
14Business Management and Risk Management
- Shipboard Risk management is about minimizing the
chance of failure pure risk - Effective risk management requires structured
risk assessment as an input
15Hazards Identified using Different Approaches
16A Culture within a Culture
Safety Management Culture
Risk Based Culture
17Summarize
- Further Training / refresher training
- Continuous Improvement
- Commitment
- Competitive Advantage
18Building better business
Working together to improve business performance