Benchmarking LNG Ships & Chemical Tankers
We were making the wrong decisions based on assumptions that we had held to be true. The PTAI analysis revealed that we were not as competitive as we had believed. Our performance paradigms clearly had to be changed at the top and throughout the organization.”
“We did not fully understand how the margins on various product lines could be optimized. When we were able to see our costs in a true competitive context for the first time, we made some dramatic changes in our sales strategies that almost immediately improved our gross margins.”
SVP, Sales and Marketing
“We realized that our sales incentives did not fit our competitive strategy.”
Director of Sales
“Our competitive position had changed, but we were able to learn why and how to change course with reliable information. The type of benchmarking cleared our vision and gave us the facts to act.”
The Industry Leader in Benchmarking LNG Ships & Chemical Tankers*
Shell Global Solutions International BV originally developed the Global Benchmarking Program for LNG Shipping. The program was designed in such a way that ships had to expend minimal effort in collecting and submitting their voyage data. It enables all of the participating owners and operators of LNG vessels to compare the performance, and operating costs, of each of their ships against other LNG ships on a worldwide basis. In 2009, Shell determined that it would no longer conduct any of LNG benchmarking programs that it had developed. Since the benchmarking programs were providing a valuable service to the participating companies, PTAI was selected by Shell based on its reputation, its history in working with and protecting confidential information, and its ability in providing a valuable, comparative metrics to the participants. Today, PTAI conducts benchmarking programs for the entire LNG value chain, of which LNG Shipping is key segment. Ships' operating performance and costs are categorized by propulsion systems and size to give management a highly accurate insight into specific areas for improvement.
BENEFITS TO PARTICIPANTS
The motivations and objectives of companies who participate in a benchmarking project are as diverse as the projects themselves. These are some of the more common objectives that our Clients have in participating in a peer group/benchmarking project:
- to quantify and understand their strengths and weaknessess relative to others in their industry
- to gain insight into their competitive position in their industry (or industry sector) on a regional or global basis
- to make changes in costs and operating practices that impact efficiencies across the enterprise
- to make discoveries allowing management to re-allocate capital and other resources for certain business units or for the company overall
- to determine how well their company (or business unit) is actually performing in the marketplace, rather than just against its own historical data
Benchmarking programs executed by PTAI ensure complete confidentiality of all parties and are in full anti-trust compliance.
Learn more about the benefits of benchmarking >>
PTAI provides the following deliverables as part of the annual shipping study:
- Fleet performance report comparing your fleet to those of your peers
- graphs and data in secure, electronic form
- presentation and discussion of your fleet's performance highlighting competitive gaps
*This program is conducted under license from Shell Global Solutions International BV.
Contact Phillip Townsend Associates >>