DNV GL – Performance summary of Solstad Shipping AS

Solstad Shipping AS, DOC Holder of 125 vessels classed by DNV GL, is one of the best performing offshore ship managers in DNV GL based on the measures we have to monitor trends, focus areas and improvement opportunities. Presently, Solstad has a Q-Index of 0,5, benchmarked against average 2,0 of world similar fleet in DNV GL (360 customers), where score 0 is highest performing, see below:

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The green line on left curve is giving average score for all our classed fleet for offshore vessels and the light blue is Solstad fleet. Solstad has been lower than average during the whole period of measuring since 2015. The table on right is all the measures we are doing in order to calculate a Q-Index and a score above 0 is due to something above expected. For example, Solstad has been given score 20 on “Fair rating”, meaning that the coating protection in 2 tanks, each score of 10, on the fleet of 125 vessels have been rated as FAIR. Score 20 divided to 125 give a fleet score of 0,2.  The fleet to Solstad has over 3000 tanks all together, of which all is rated GOOD and only 2 as FAIR. The lowest rating of tanks is POOR.

Further, we are also measuring their performance related to management systems by carrying out Audits of offices and ships worldwide. The below curves are giving evidence of how Solstad is performing, benchmarked against the same offshore fleet classed by DNV GL. The below measures are from 2018 and 2019:

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The above show that the number of audits in 2019 has been ¼ of the number of audits in 2018 , hence, the number of NC’s issued in 2019 should be much lower than 2018, which is confirmed above. The difference in the number of audits are mainly due to audits are carried out every 2,5 year and therefore it is expected that the number of audits in 2020 and 2021 will be higher than in 2019.

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The above left curve show that Solstad is among the 20% best performers of all Offshore vessels in DNV GL Class (approx. 2.500 vessels) within ISM, ISPS and MLC, which is very good and give DNV GL confidence that the fleet is well operated and maintained by competent and trained seafarers.

The right curve indicates that the ISM, ISPS & MLC performance has improved from 2018 to 2019. A declining angel indicate improving performance compared to last year, a straight line is “business as usual” and an upgoing curve indicate poorer performance that would require further investigation to identify the reason and possible corrective actions. Solstad’s curve indicate improved performance in management system audits compared to last year.

All our measures, many more than the above examples, indicate that Solstad is performing well above average of similar types of vessels that are classed in DNV GL and in particular the efficiency of their Management System.

Stavanger, 12.03.2020

Einar Westlye
Senior Principal Auditor & Key Account Manager