WHITEPAPER

A Q88 LLC Product

VETTING ANALYTICSPERFORMANCE MATTERS IN A COMPETITIVE MARKET

YOU ASKED WE LISTENED

With over 8,000 tankers and 1,100 clients using Q88 LLC solutions, we are uniquely positioned to solve the industry’s most pressing issues.

Since day one, our mission has been to connect the global shipping industry and to facilitate the sharing of information in an efficient and productive way.

Our partnership with the world’s leading owners, charterers, ship managers, agents and brokers has provided us with unrivalled insight on how to answer some of the industry’s most critical questions.

We pride ourselves on the relationships we build with our clients and other industry leaders. When our clients expressed the need for a tool to provide a deep dive into vetting data, rather than the static Excel reports they were generating, we listened.

With 75% of the world-wide tanker industry already on Q88.com, many of which are utilizing our vetting and officer matrix programs, we are ideally positioned to fill this void. We spent 2 years working with a number of ship owners and technical managers developing Vetting Analytics.

The result is a system that enables ship owners and managers to keep a better eye on inspections, improving their competitive position in the market place while simultaneously contributing to safer seas and greater transparency.

Vetting Analytics key features include:• Benchmark fleet

performance against industry averages

• Import SIRE and CDI VIQs

• Compare initial vs final risk ratings

• Charts by quarter, chapter, vessel and inspection company

• Filter repeating questions on Master, C/E and Superintendent

• Assign an observation to a person for follow-up

• Compare internal fleets against one another

MORE INFORMATION BETTER DECISIONSAdvances in technology have made information more easily accessible and data more manageable. Technology’s impact on shipping’s performance and safety management practices is undeniable.

More inspections are being done year over year. According to OCIMF the tanker risk assessment tool, Ship Inspection Report Programme (SIRE), has seen a 40% increase in reports received per month over a 10 year period from December 2005 to December 2015. OCIMF reports also indicate that from 2006 to 2014, SIRE reports downloaded per year has tripled.

The number of reports requests per month, as well as readers per report has grown exponentially according to OCIMF.

OCIMF and other industry bodies promote increased transparency of operating standards. With more inspections being done, more eyes on each inspection and more downloads, charterers are gaining valuable insights into vessel performance and which vessel is best suitable to carry their cargoes.

Negative SIRE inspection reports can severely impact a ship owner or operator’s ability to fix cargoes with certain charterers. This can impact freight rates, revenue, profit and in some cases, share price.

In such a competitive market, being able to access real-time, business critical information can help mitigate such risks.

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“Q88’s Vetting Analytics is not only a great tool for our company, but for the industry as a whole.” - Peter Heijbor, Anthony Veder Rederijzaken

INTRODUCING VETTING ANALYTICS

Monitor, Analyze - InstantlyUsing Excel to analyze vetting performance is no longer enough. Excel reports are static and take time to produce. By the time decision makers receive their report, the information is already out of date.

Q88 Vetting Analytics makes it easy to pinpoint potential issues, enabling users to take corrective action immediately. Real-time dashboards, industry benchmarks and custom filters enable deep analysis to your most crucial fleet performance information in a matter of seconds.

In a competitive market, ship owners and operators need ways to turn their vetting data into insights that help ensure capitalization of market opportunities. Custom dashboards allow for easy recognition of trends across vessels, fleets, VIQ chapter, financial quarter, risk level and even by inspector.

The Importance of BenchmarkingQ88 Vetting Analytics enables companies to benefit from both internal and competitive benchmarking practices.

Companies with established and proven best practices can utilize Q88 Vetting Analytics to track vessel and fleet performance against one another and against previous quarters. Recognizing performance trends across specific vessel characteristics can also play an integral role in determining specific deployment strategies.

With over 8,000 vessels on Q88.com, we are uniquely positioned to provide ship owners and operators the ability to benchmark their vetting performance against industry averages. The aggregated, anonymous benchmarks enable users to analyze their fleet performance with the charterers’ perspective in mind. That is, how competitive is our fleet in relation to the opposition?

Risk AssessmentQ88 Vetting Analytics allows users to set observation risk levels based on chapter and even question. With Vetting Analytics users are able to compare initial and final risk levels against one another.

Analyzing initial vs final risk levels for top assessed risks enables users to quickly flag observations that may not be easily detected by first glance, but may in fact be a major issue.

A Deeper Data DiveVetting Analytics provides users with vital business critical information in real-time. In today’s industry landscape, ship owners and operators need to do more with vetting reports than just file and stash them only to be presented for quarterly or year-end reporting.

The breadth of information Vetting Analytics provides users in a clean, intuitive interface allows them to pinpoint trends and potential issues faster than ever. As vessels are being evaluated on a fixture by fixture basis, proactive performance management practices can help mitigate potential risks and avoid surprises.

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Q88 TURNS UNTAPPED DATA INTO POWERFUL INSIGHTS

VETTING ANALYTICS & YOUR BOTTOM LINE

Free to subscribersWith 75% of the world-wide tanker industry on board, Q88.com has become synonymous with connecting the industry, facilitating the sharing of information and ensuring safe and efficient tanker operations. Vetting Analytics is the next piece of the puzzle in enabling everyone in the voyage chain to have access to the latest and most reliable information.

Vetting Analytics gives our customers custom dashboards accessible in a secure, mobile environment. Customers enjoy the same 24/7 global support and staff of maritime experts that Q88 LLC is know for.

Q88 Vetting Analytics is already included in your Q88.com subscription. No set-up fee, no add-on fee, no gimmicks.

Risk MitigationMaking Q88 Vetting Analytics an integral part of your performance management practices reduces the risk of under-performing on SIRE inspections. The system supports uploads of the latest SIRE and CDI VIQ versions, with the ability to upload up to10 files at a time.

We understand how much of a significant impact a failed inspection can have on a vessels ability to capitalize on market opportunities. With the tools provided by Vetting Analytics, ship owners and operators can rest assured that they have all the resources needed to meet oil major compliance.

Reduce Voyage CostsVetting Analytic’s dashboards enable users to easily pinpoint potential performance issues across time and VIQ chapter. Quick recognition of major issues can save owners and operators from costly repairs that keeps the vessel from trading.

By reducing the vessel’s risk of failing vettings and not being suitable to charterers, Q88 Vetting Analytics helps you safeguard deployment, earnings, and in some cases, equity value.

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Q88.com

Sales@Q88.com

US: +1 203 413 2030 UK: +44 20 3773 5035SG: +65 6622 5324

FOR MORE INFORMATION ON HOW VETTING ANALYTICS CAN IMPROVE YOUR MARGINS AND OPERATIONS, JUST GET IN TOUCH: