Key Performance Indicators (KPIs) and Shipping Companies Performance Evaluation: The Case of Greek Tanker Shipping Companies

Abstract

If you are not sure where you are, how will you find out where to go? The aim of this paper is to examine the applicability and usefulness of performance indicators in shipping management performance and evaluation. The paper brings the importance of KPIs closer to the reader and examines their definition, purpose and role in the shipping market. The first part is devoted to literature review on KPIs. The second part is the methodology, where a questionnaire is taken across the tanker shipping companies in Greece. The third part is the analysis of the questionnaire which showed that even though many Greek tanker enterprises recognize the benefits of performance indicators, a small percentage of them use some types of KPIs. The final part is the conclusion.