RightShip sets the standard for dry bulk ship vetting

Thanks to Rio Tinto Marine, ship vetting has become a well accepted HSE compliance process in all Rio Tinto business units. It has also achieved a leadership role in the global marine industry.

RightShip, the ship vetting service founded by Rio Tinto and BHP-Billiton, screens the quality of ships before they are chartered to carry bulk cargoes like iron ore, coal and industrial minerals.

Prospective charters are scrutinised and rated for safety, operational condition and environmental performance to meet high standards. The system is the only online vetting service available; providing users with a timely and reliable rating system for their nominated vessels.

Last year RightShip vetted 9,600 ships on behalf of its partners and subscribers' chartering desks. The vetting process is aimed at ensuring that vessels meet certain standards in order to minimise business risk.

RightShip determines a weighted risk rating for vessels by drawing on a wide range of regularly updated data that is benchmarked against regulatory standards. Ratings are continuously updated as new information is received.

The system's output is cross checked by physical inspections which are undertaken by RightShip inspectors on a random basis covering about 650 ships a year.

Now RightShip has won a further seal of approval with the entry of international agriculture and food company, Cargill, into the ownership group.

Like Rio Tinto and BHP-Billiton, Cargill is a major cargo owner. Cargill's involvement will bring significant volume growth and product diversification to RightShip that is expected to boost the number of ships vetted by RightShip by 40 per cent.

Together, the three partners will account for approximately 70 per cent of all dry bulk vessel demand. Bulk cargoes shipped by Rio Tinto worldwide account for approximately ten per cent of the world seaborne dry bulk trade.

Cargill's participation will widen RightShip's network, provide more capacity to improve its service offering and strengthen RightShip's ability to influence industry standards, says David Peever, managing director of Rio Tinto Marine.

RightShip currently has over 50 external customers using its online vetting system, operating in over 50 countries. Broadening the third party customer base continues to increase the influence of RightShip on the global shipping industry in a positive way and improves the safety standard of vessels at sea, says David.

RightShip's efforts have been recognised both within and outside the marine industry. It is recognised by a number of Port State Controls worldwide to have positively influenced the quality of ships calling at their ports. In 2004, it won a Lloyd's List Award for Innovation for its leading edge ship vetting system and services.

More recently, RightShip won the Australian Governor of Victoria's Export Award for best exporter in the Services category. This award represents recognition of RightShip's success outside the industry.

In the four years since its formation in 2001, RightShip has become the industry standard for dry bulk ship vetting and changed the attitude of industry participants to HSEC compliance.