Idwal report feature enables further insight for owners and financiers
(Posted on 25/05/22)
Idwal has announced that all inspection reports will now also include a data comparison feature that enables vessel operators and shipping financiers to understand how their vessel compares to others in the same sector. This is a free upgrade to all inspection reports for customers.
The company has been using The Idwal Grade in its reporting since 2018. This an industry recognised measure of asset integrity that is programmatically calculated using proprietary algorithms from over 500 individual data points, captured during a rigorous and standardised inspection process.
The Idwal Grade is represented on reports as a number between 1 and 100 for easy visualisation of the integrity of the vessel. Each individual grade can now be plotted with other vessels of a similar type so the operator or financier can see the asset in the context of the market.
Idwal CEO Nick Owens explained: “We inspect thousands of vessels a year and have been doing so for many years. Using the Idwal Grade consistently enables us to clearly see where one vessel sits in relation to others in the same sector. We are providing this tool as a free upgrade to our reports following feedback from many customers who are clear about the integrity of their vessel(s) from our reports but have an interest in understanding how their grade compares to others and where they sit in marketplace. “
“We are a vessel inspection business firmly built on a data-driven methodology that ensures our reports are consistent, accurate and free from bias”, continued Nick Owens. “The data we have available provides our customers and ultimately the industry with more visibility and understanding of the world’s fleet and we will start to provide more tools and insight over the coming months and years as we develop this aspect further.”
Latest News
ClassNK issues AiP for jointly developed ammonia fuelled bulk carrier
(Posted on 27/01/23)ClassNK has issued an Approval in Principle (AiP) for a large ammonia fuelled 210,000 DWT bulk carrier... Read more
Baltic Exchange: Will higher steel values mean bulkers hold value?
(Posted on 27/01/23)Investors in middle aged dry bulk tonnage may be cheered by the impact of sustained higher recycled... Read more
NI survey into Straits of Malacca and Singapore shipping traffic
(Posted on 27/01/23)As one of the most important strategic maritime passages in the world, linking the Indian and Pacific... Read more
Ship managers OSM and Thome agree to merge
(Posted on 23/01/23)OSM Maritime Group and Thome Group have agreed to a merger of the two companies. By joining forces,... Read more
Swedish Club announces key management moves
(Posted on 23/01/23)In a pivotal move aimed at further strengthening The Swedish Club’s long-term position in the... Read more
Danica Crewing Specialists adds Indian seafarers to crew pool
(Posted on 16/01/23)International crewing expert Danica Crewing Specialists now has a presence in Mumbai, boosting its recruitment... Read more
Campbell renews Fleet Xpress contract
(Posted on 10/01/23)Bahamas-based ship-management group Campbell Shipping has extended its relationship with Inmarsat, a... Read more
20,000FRT of iron ore reclaimer components on single AAL sailing
(Posted on 10/01/23)AAL’s scheduled monthly ‘Asia to Australia West Coast Liner Service’ (AUWC) recently... Read more
Britannia launches TR(B) Americas
(Posted on 10/01/23)Tindall Riley & Co Ltd./ the Managers of Britannia P&I announce that on 5 January 2023 it acquired... Read more
Swedish Club rings in New Year with welcome for new MD Nordberg
(Posted on 04/01/23)The Swedish Club has welcomed in the New Year, when it formally greeted its incoming Managing Director... Read more
