Evaluation of safety and environmental risk at individual ship and company level

Whereas current risk profiling methods used in the maritime sector largely rely on detention risk, we extend them by considering various risk dimensions and by evaluating a wide range of risk factors including pollution and damage costs. Risk factors include ship particulars such as vessel type and the nature of companies and owners, as well as historical information on past accidents, inspections, and changes of particulars. We present methods to summarize and visualize the various risk dimensions paying particular attention to the identification of potentially risky companies. The results are obtained by combining unique data sets with information on ship arrivals, inspections, and accidents covering 2006–2010.

► We evaluate the risk of detention and of accidents for ships and companies.
► Risk is modeled in terms of risk factors like age, type, and history of the ship.
► Safety performance of companies is evaluated after controlling for risk factors.
► Uses very rich shipping data sets on arrivals, inspections, and accidents.
► Relevant for charterers, ship owners, insurance companies, maritime administrations.