We are honoured to announce that RightShip has been named SME winner in the INSEAD Alumni Association (IAA) Singapore 2022 Business as a Force for Good Awards!
These awards honour Singapore-based companies who have:
- Demonstrated thought-leadership with respect to “Business as a Force for Good (BAFG)”
- Created a vision, mission statement and strategy clearly demonstrating their BAFG commitment
- Developed corporate social responsibility best practices
- Achieved remarkable economical results and meaningful societal impact to the BAFG initiatives including but not limited to Environmental, Social & Governance (ESG), Corporate Social Responsibility (CSR), Diversity & Inclusion (D&I), Sustainable Development Goals (SDG) and Sustainability.
“We congratulate RightShip for winning the IAA Singapore 2022 Business as a Force for Good (SME category) Award,” said IAA BAFG lead Tan Eng Hwa TIEMBA’16. “ RightShip’s award reflects their commitment to engaging in responsible business practises that serves society’s needs in a sustainable way.”
Judges were impressed by RightShip’s focus on human life, usage of digital solutions to target seafarers’ safety, and use of emission insights helping ports understand their environmental footprint and bringing transparency to the shipping industry.
To drive ‘zero harm’ in the maritime industry, RightShip takes a holistic view of safety, sustainability and crew welfare. Enabled by technology, data and insights are fed back to stakeholders, enabling rational and transparent decision making which in turn contribute towards safer ships and cleaner seas. By taking on the toughest challenges for the shipping industry, RightShip has a positive impact on human life and our planet in general.
Gurpreet Singh MBA’14D, the Chief Commercial Officer shared, “We are honoured to be named the winner and look forward to contributing more and doing Business as a Force for Good.”
RightShip is an Environmental, Social and Governance (ESG) provider for members in the maritime ecosystem. They believe in using the power of data and analytics to provide transparency to their customers and partners.
RightShip does this with the intent of helping customers achieve global safety and sustainability standards. At the core of RightShip’s offering is their vision: A maritime industry that causes zero harm. As a purpose-driven organization, they aspire towards that vision via three strategic pillars: safety, environmental sustainability and social responsibility.
Ninety percent of international trade moves via our seas and oceans, and as such, the maritime industry as a key driver is important to many of us. It touches our lives in a variety of ways, whether it is from the reliance on food imports in a small market like Singapore, or from the kind of fuels that are transported between energy consumers and producers.
With these numerous touchpoints, shipping is commonly seen as a barometer of the global economy.
The very backbone of shipping is the 1.8m seafarers operating on 74,000 vessels globally, 24/7, who keep our economy running by navigating the seven seas and bringing various goods to our doorstep. With the recent COVID-19 pandemic, the role of seafarers came into the spotlight on the back of a humanitarian crisis where, due to international lockdowns, many of them were away from their families for extended periods of time. What used to be a three-month period at sea extended itself for some into a year, and in some cases up to two years.
RightShip’s core impact in relation to BAFG
One of RightShip’s newest initiatives, the Crew Welfare Assessment, provides a barometer on the living and working conditions of seafarers onboard. In exercising care for our seafarers, there are positive knock-on effects such as reducing risks of incidents and accidents on the vessels they support.
The maritime ecosystem is a complex one, with multiple parties including shipowners, charterers, ports and financiers. In progressing towards our zero-harm future, RightShip recognizes that no one party can achieve this alone. As such, they engage in active collaborations with partners in several ways: promoting joint product development or raising awareness and advocacy at an industry level.
Through their solutions, in 2021, RightShip performed thousands of physical vessel inspections and vetted over 13,000 unique ships.
Ultimately, RightShip aims to work together synchronizing the improvement of conditions for our people, the planet and society. They do this via data and technology that overlays multiple parties, which are especially crucial in our complex maritime ecosystem.