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IRCLASS REPORTS STRONG GROWTH

Wednesday, January 15, 2020 

The Indian Register of Shipping (IRClass) says that its classed fleet registered about 3% growth in 2019, with the foreign flag fleet continuing to grow with 16% more vessels added, demonstrating strong global acceptance of IRClass services.

It received several flag authorisations in 2019 including key flags like Cyprus and Denmark and is now recognised by 45 flag states worldwide. It opened a new office in the Netherlands to add to its other European offices in the UK, Greece, Turkey and representative offices in Malta, Cyprus and Bulgaria. Middle East being its strongest market outside India, IRClass opened an office in Qatar to focus on the growing oil and gas opportunities and has already registered some early business wins.

The class society bagged multiple new construction projects for small and medium ships of various types including cement carriers, mini bulk carriers, passenger ships, offshore support ships, inland vessels being constructed in China, Korea, Japan, Malaysia apart from India, and is involved in new offshore projects like FSRU, FPSO as well as conversion to FPSO & well stimulation vessels.

On the domestic front, Defence continues to be a growth area for IRClass with key project wins with the Indian Navy. Equally impressive was winning the contract to provide classification services for 54 vessels of the Border Security Force (BSF) of India.

In July 2019 IRClass’ Chairman Arun Sharma took over the Chair of the International Association of Classification Societies (IACS). He stressed on the need to continuously strengthen the systems within IACS towards maintaining and enhancing quality operations.

While the society’s primary focus remains to enhance its classed fleet and improve its service offerings, 2020 will be a year where IRClass will be focusing on new technologies and regulatory requirements, thereby increasing its value to its customers by harnessing the benefits of digitalisation.

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