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Friday, November 16, 2018

INTERTANKO ready to start benchmarking

INTERTANKO has received more information from the cost benchmarking pool, and we encourage other members to provide figures so that all tanker segments can be covered. 

The graph below shows a comparison of the information we have received so far. We have made similar cost comparisons for different cost items: repair and maintenance, crew costs, insurance, lubes, stores, insurance and administration. The comparisons and analysis will be expanded when we receive more figures and we will create a database to enable us to create the desired comparisons and identify the trends.



The black dots in the above graph represent individual tankers. Some of the black dots are on top of each other as they represent “tanker classes” with the same costs. The 5 large red dots represent an average of a different benchmarking scheme and each of the red dots represent 28 to 100 tankers.  

For the total operation cost for VLCCs we have a range of USD 1.84 m to USD 2.66 m per year.

 The green lines represent averages. For example the first green line from the left shows an average of USD 2.005 m for tankers 4,500 dwt to 19,000 dwt; the second green line from the left shows an average of USD 2.12 m for tankers 17,000 dwt to 39,000 dwt. 

We have attached a form in Excel format and we will provide the comparisons to those who fill in the form for their tankers.  

A comparison of the benchmarking performance indicators will enable pool members to measure the difference between the best and poorest performing companies against their own performance and thus identify gaps and weaknesses.  

If members agree, we will also include performance indicators such as number of incidents, injuries, tonnes cargo carried or others. 

The information received will be treated strictly confidentially and information to pool members will be given on an anonymous basis. 

If you wish to participate in the benchmarking pool, please fill in the attached form and send to: Erik Ranheim. 

Contact: Erik Ranheim