Comprehensive Assessment Of The Management And Efficiency Of A Shipping Company

Abstract

The article proposes a methodology for a comprehensive assessment of the management efficiency and fleet operation of a shipping company, based on the threefold concept of “Fleet Operation - Fleet Financial Results – Resource Use.” A comprehensive indicator of the shipping company efficiency is presented in the form of a goal function that strives for the maximum. Technical, economic and financial indicators that allow identifying reserves for increasing the shipping company efficiency are selected in accordance with the threefold concept to assess the efficiency. The “Fleet Operation” group includes 3 indicators: the efficiency of using calendar time, operational readiness of the fleet, tonnage-day in operation. The “Resource Use” group involves 9 indicators: overall labor productivity, average crew retention rate, capital productivity, rate of detected violations during vetting inspections, rate of detected violations during PSC inspections, incident frequency rate, average daily costs of the fleet operation, average hourly consumption fuel in the fleet, average hourly oil consumption in the fleet. The “Fleet Financial Results” group comprises 3 indicators: time charter equivalent, return on sales and operating profit per vessel. Fifteen private indicators are related by the goal function of the efficiency and weight coefficients computed by the ranking method. The system of private indicators is as close as possible to the procedure for recording fleet results of Russian shipping companies. The methodology is tested using data from a Russian shipping company. The given methodology allows revealing problem areas in the fleet management, developing and implementing optimization measures based on the obtained data.

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About this article

Publication Date

31 March 2022

eBook ISBN

978-1-80296-124-9

Publisher

European Publisher

Volume

125

Print ISBN (optional)

-

Edition Number

1st Edition

Pages

1-1329

Subjects

Cite this article as:

Grass, E. Y., & Lepekhina, Y. A. (2022). Comprehensive Assessment Of The Management And Efficiency Of A Shipping Company. In & I. Savchenko (Ed.), Freedom and Responsibility in Pivotal Times, vol 125. European Proceedings of Social and Behavioural Sciences (pp. 733-745). European Publisher. https://doi.org/10.15405/epsbs.2022.03.87