Risk management

Identifying threats, helping to improve safety and performance

Our risk management services can help you to minimise the potential for failure. We aim to give you a better understanding of the risks to your operations – and to safety and the environment – by identifying practical solutions to meet your needs.

Whatever your business, you are likely to face the prospect that your goals may not always be met. A successful outcome may be at risk from a number of different threats, ranging from design failures and poor operational practice to inadequate business planning and management systems.

Our risk management services can help you to minimise the potential for failure. We aim to give you a better understanding of the risks to your operations – and to safety and the environment – by identifying practical solutions to meet your needs. 

Risk-based approach

Whatever aspect of the marine industry you are involved with, an incident or a failure to fulfil contractual obligations can have significant impacts, on safety and the environment, as well as on your operations and reputation. Understanding the risks associated with your operations makes you more likely to appreciate the potential for business losses.

A risk-based approach helps you assess the ability of your ships and marine engineering systems to reach the required levels of performance. It also enables you to evaluate effective means of reducing the risk of failure to an acceptable level.

Risk assessment methods can be particularly effective during the design stage, when changes can be more easily accommodated and alternative design solutions explored. They can also be employed later as a means of targeting safety expenditure in the most efficient way, either for an individual ship or marine system, a complete fleet of vessels, or for a particular voyage.

Benefit from our experience

We have experience and expertise in all aspects of risk management. When combined with our understanding of the marine industry, we can provide risk management services that are both practical and results-orientated.

Our risk management packages are flexible and can be tailored to meet your individual needs.

We offer a range of services including:

• operational risk assessments

• port risk assessments

• shipyard risk assessments

• concept evaluations

• hazard identification

• HAZOP studies

• consequence analysis, including ship impacts, fires, explosions and toxic releases

• escape, evacuation and rescue analysis

• reliability, availability and maintenance management studies.

These services are carried out by a range of specialists using dedicated tools, including Lloyd’s Register Mariner, our marine operational risk assessment software.
Recent project experience

If your operations involve risk, we have the expertise and experience to help you. Our recent risk assessment projects for marine clients have included:

• review of incident data, experimental work and risk analysis of marine cargo transport

• concept evaluation of a variety of new or alternative marine equipment, including vessels

• operational safety review at a major terminal due to the movement of tanker traffic and cargo transfer operations

• analysis of the proposed design and operations of several LNG loading and receiving terminals

• comparative risk assessment of collision incidents for ro-ro ferries operating in two different locations

• in-depth assessment of the risks of a major LNG spill

• reliability centred maintenance of the propulsion systems of a new passenger liner

• risk analysis of global oil spills

• preparation of the safety case of a proposed passenger liner

• operability and safety of a yacht’s loading bay.

We also provide training in risk management and incident investigation.

Summary of benefits

• Enhances the safety culture in your port or across your fleet.

• Evaluation of the potential risks to your business on several levels.

• Helps you to achieve your goals and lower the risk of operational failure.

• Our recommended risk mitigation measures can help you minimise the potential for losses.