Risk Assessment In Shipping Companies
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Lloyds Register - Asia
Marine Risk Assurance
Risk Assessment in Shipping Companies Intertanko Vetting Seminar Singapore 29th November 2005
Anuj Sahai Lloyd’s Register Asia, Singapore
Lloyds Register - Asia
Marine Risk Assurance
Risk Assessment Do the shipping companies do it well?
Risk Management Are shipboard risks well managed?
Leading indicators Tanker trade Tanker trade
14 14
'10000 Bn TM and '10spills Tn TM Number of >700 m/t
Lloyds Register - Asia
Marine Risk Assurance
12.5 12.5
12 12 10 10
9.3
88 66
6.6 6.6
8.8 8.8
7.8
44
3.5
22 00 80's 80's
90's90's
PR00's PR00's
Source: Fearnleys, ITOPF
Lloyds Register - Asia
Marine Risk Assurance
Leading indicators 100 80 60
49
40
26
17
DH share (%)
78 94
40 49
20
60
74
83
22 0
6
1991
•
1997
End 02
SH* share (%)
End 03
End 05
End 10
End 05, all tankers built 1982 and earlier gone End 10, all tankers built 1987 and earlier gone trading beyond 2010 subject to administrations
99.99999% of oil is safely delivered. Source: Intertanko
Leading indicators Tanker accidents
Number of accidents
Lloyds Register - Asia
Marine Risk Assurance
1000 900 800 700 600 500 400 300 200 100 0 '90
'94
'98
'02
Source: LMIS, Informa, press, INTERTANKO
Lloyds Register - Asia
Marine Risk Assurance
Perception •
The risks are well managed.
•
Further improvements - only incremental.
•
Risk Assessments – why?
Lloyds Register - Asia
Marine Risk Assurance
Risk Assessment requirements
•
Deficiencies
•
Critical systems and equipment
•
Health risk assessments
•
Management of Change
•
Near misses
Lloyds Register - Asia
Marine Risk Assurance
Reality •
IMO / Flag regulated
•
Reactive not proactive
•
Why fix it, if it ain’t broken?
•
Compliance driven
Lloyds Register - Asia
Marine Risk Assurance
Risk Assessments
•
Still thinking about it!
• Let someone else do it!
Lloyds Register - Asia
Marine Risk Assurance
Why Risk Assessments?
•
ISM Code – Implicit
•
OCIMF – TMSA
•
Manage shipboard risks better
•
Continuous Improvements
Lloyds Register - Asia
Marine Risk Assurance
Suggested Approach
Company Level
Shipboard Level
Lloyds Register - Asia
Marine Risk Assurance
Are your assessments being effective? • Business or safety performance improvements? • Can the benefits be measured?
Lloyds Register - Asia
Marine Risk Assurance
Link Risk Assessment to Performance (KPI’s)
•
LTIF
•
LTA’s
•
Non-budgeted repair costs
•
PSC results
•
Insurance claims
•
To crews!
Retention Satisfaction
Lloyds Register - Asia
Marine Risk Assurance
Business 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
Lloyds Register - Asia
Marine Risk Assurance
Hazards Identified using Different Approaches
100
%
0
Actual Total Hazards
ID from Prescriptive
ID from Structured Risk
ID from Unstructured Risk
Lloyds Register - Asia
Marine Risk Assurance
A Culture within a Culture
Safety Management Culture
Risk Based Culture
Lloyds Register - Asia
Marine Risk Assurance
Summarize •
Further Training / refresher training
•
Continuous Improvement
•
Commitment
•
Competitive Advantage
Lloyds Register - Asia
Marine Risk Assurance
Building better business
Working together to improve business performance
Marine Risk Assurance
Risk Assessment in Shipping Companies Intertanko Vetting Seminar Singapore 29th November 2005
Anuj Sahai Lloyd’s Register Asia, Singapore
Lloyds Register - Asia
Marine Risk Assurance
Risk Assessment Do the shipping companies do it well?
Risk Management Are shipboard risks well managed?
Leading indicators Tanker trade Tanker trade
14 14
'10000 Bn TM and '10spills Tn TM Number of >700 m/t
Lloyds Register - Asia
Marine Risk Assurance
12.5 12.5
12 12 10 10
9.3
88 66
6.6 6.6
8.8 8.8
7.8
44
3.5
22 00 80's 80's
90's90's
PR00's PR00's
Source: Fearnleys, ITOPF
Lloyds Register - Asia
Marine Risk Assurance
Leading indicators 100 80 60
49
40
26
17
DH share (%)
78 94
40 49
20
60
74
83
22 0
6
1991
•
1997
End 02
SH* share (%)
End 03
End 05
End 10
End 05, all tankers built 1982 and earlier gone End 10, all tankers built 1987 and earlier gone trading beyond 2010 subject to administrations
99.99999% of oil is safely delivered. Source: Intertanko
Leading indicators Tanker accidents
Number of accidents
Lloyds Register - Asia
Marine Risk Assurance
1000 900 800 700 600 500 400 300 200 100 0 '90
'94
'98
'02
Source: LMIS, Informa, press, INTERTANKO
Lloyds Register - Asia
Marine Risk Assurance
Perception •
The risks are well managed.
•
Further improvements - only incremental.
•
Risk Assessments – why?
Lloyds Register - Asia
Marine Risk Assurance
Risk Assessment requirements
•
Deficiencies
•
Critical systems and equipment
•
Health risk assessments
•
Management of Change
•
Near misses
Lloyds Register - Asia
Marine Risk Assurance
Reality •
IMO / Flag regulated
•
Reactive not proactive
•
Why fix it, if it ain’t broken?
•
Compliance driven
Lloyds Register - Asia
Marine Risk Assurance
Risk Assessments
•
Still thinking about it!
• Let someone else do it!
Lloyds Register - Asia
Marine Risk Assurance
Why Risk Assessments?
•
ISM Code – Implicit
•
OCIMF – TMSA
•
Manage shipboard risks better
•
Continuous Improvements
Lloyds Register - Asia
Marine Risk Assurance
Suggested Approach
Company Level
Shipboard Level
Lloyds Register - Asia
Marine Risk Assurance
Are your assessments being effective? • Business or safety performance improvements? • Can the benefits be measured?
Lloyds Register - Asia
Marine Risk Assurance
Link Risk Assessment to Performance (KPI’s)
•
LTIF
•
LTA’s
•
Non-budgeted repair costs
•
PSC results
•
Insurance claims
•
To crews!
Retention Satisfaction
Lloyds Register - Asia
Marine Risk Assurance
Business 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
Lloyds Register - Asia
Marine Risk Assurance
Hazards Identified using Different Approaches
100
%
0
Actual Total Hazards
ID from Prescriptive
ID from Structured Risk
ID from Unstructured Risk
Lloyds Register - Asia
Marine Risk Assurance
A Culture within a Culture
Safety Management Culture
Risk Based Culture
Lloyds Register - Asia
Marine Risk Assurance
Summarize •
Further Training / refresher training
•
Continuous Improvement
•
Commitment
•
Competitive Advantage
Lloyds Register - Asia
Marine Risk Assurance
Building better business
Working together to improve business performance
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