What is included in my vessel Risk Rating Report?

Every vessel risk rating report contains detailed information on:

• Vessel name
• Very latest traffic light risk rating
• Vessel risk rating compared to merchant fleet
• IMO number
• Flag (and flag performance), builder, class
• Surveys, dry, last renewal & next survey, and safety surveys
• Terminal inspection (when available)
• Last PSC inspection
• Detentions
• Dry dock survey due
• Tanks – all descriptions
• Casualty history for previous 12 months
• Registered owner/manager/technical operator
• Trading areas

How our risk ratings are compiled

IMRRA has a commercial intelligence network covering 8,000+ vessels and six researchers are constantly reviewing, updating and extending this database. Each dataset is aggregated and assessed using IMRRA’s statistical regression analysis tool and then further analysed by a specialist researcher.

The methodology is as comprehensive as it is competent:

• Each vessel is rated by age, class and type
• Over 1,000 vessels are assessed every month
• Individual vessel risk is calculated against the fleet average

The vessel risk rating is derived from the following components:

• Static risk factors associated with long-term risks that remain constant over time:
  • Vessel particulars
  • Classification Society’s performance
  • Company’s operating history
  • Casualty history and incidents
  • Insurance claim history
• Dynamic risk factors that change in their frequency and severity plus an assessment of an organisation’s risk management processes
• Verified risk factors analysed using IMRRA’s forecasting and prediction tool: the analysis of data collected indicates improvement or deterioration in vessel operation and management
• Human factors: Data would include, for example, verified RA information and vessel operator verification audits

In other words, the risk rating you get from is a combination of existing and potential negative ratings that affect a vessel’s overall operational risk and safety, as well as human factors in vessel and operator risk management. Then a regression analysis tool, a widely used forecasting and prediction technique, is applied to estimate the relationships between the variables.

This uniquely comprehensive analysis is the reason why you can trust us to deliver the best risk rating for your vessel.