Shipment Risk Analysis - How Do You know if you’re Item Will Get To Its Destination?

Ship risk is associated with the vessel type and also the current fleet

Shipping risk analysis is always a big concern for international shippers and forwarders. Even though commodities risk is the first fact that should be analyzed, people are often wrongly presuming it to be shipping risks. Different parameters must be taken into account to assess the transportation risk of cargo from one place to another. The goods should be transported in a safe, timely and inexpensive manner for any successful operation. Shipping risks are increasing in the marketplace. With globalisation, increased cost of transport and larger vessel sizes there is now more supply than demand. Ships have to compete with each other on other than price factors. Greater competition leads to increased risks that the companies need to manage to remain profitable.  

The total number of ships in the fleet will help calculate the risk factor

It's not easy to keep track of your company ships, especially for large fleets. It's hard to keep track and each delay could cost thousands of dollars. To minimize the risks associated with shipping your company assets, you'll want to implement a comprehensive risk management strategy that covers everything from weather patterns during the winter months, what ports to visit and when, earthquake risks especially along major global fault lines like the San Andreas Fault in California, and of course pirate territory on the high seas between Yemen, Somalia, and Nigeria.

Shipping risk comes with the nature of shipping goods by sea. This route is normally more affordable and tractable than air freight, especially if it's a small shipment. However, this choice has its own challenges because goods prone to getting lost or damaged while traveling by sea.

The fleet analysis is carried out in two ways

Fleet owners and operators are burdened with the responsibility of choosing safe, secure, reliable and cost-effective providers for their shipping needs. With so many options that are available in the market today, combined with new regulations being introduced very frequently and a lot of restrictions by governments, it can often be a challenge to find reliable partners that meet your requirements. This is where fleet analysis comes in.

Ship risk analysis is an essential part of ship risk management

Shipping riskanalysis is an essential part of ship management. Over the years numerous studies and researches have been done to develop guidelines to ensure that a company's entire fleet do not expose themselves to unnecessary risk. As a comprehensive guide, Ship Risk Analysis for fleet contains material for Ship Risk Management in an easy-to-use format. You can easily find what you are looking for without being overwhelmed by the wide range of information available in this SRA Industry Insight.