IRClass Review of 2018 and Projections for 2019

The Indian Register of Shipping (IRClass) continues to record steady growth in its classed fleet, flag recognition and geographical presence, mirroring the shipping industry’s ongoing recovery.

Fleet Growth

With tankers and bulk carriers continuing to dominate IRClass’s tonnage, the classed fleet has grown more than 4% in the past year, with the foreign flag fleet seeing a particularly impressive growth of 22% which is 16% in tonnage terms and indicative of strong overseas growth. 

Flag Recognition and Geographical Presence

IRClass is now recognised by 41 flag states globally, seeing recent additions in 2018 from the Netherlands, Vietnam, Jordan and Bahrain.

Towards the end of 2018, it also received approval from Abu Dhabi National Oil Company (ADNOC), strengthening its offshore portfolio in the Middle East and opened an office in the Kingdom of Saudi Arabia to better service its customers in the region.

Strengthened Portfolio with Defence and Government Projects

On the domestic front, Defence continues to be a growth area for IRClass with key project wins as well as construction of Inland Waterways vessels.

These additions to IRClass’s project portfolio demonstrate the classification society’s competence and capability in handling large scale and technically challenging projects. 

Commitment towards Information Security

The ISO 27001:2013 certification awarded to IRClass for its Information Security Management System from the British Standards Institution (BSI), underscores the classification society’s commitment towards risk management. It inspires confidence in IRClass’s level of data protection, assuring customers that their information is well-protected.

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Indian Register of Shipping wins two prestigious awards at separate ceremonies

Leading classification society Indian Register of Shipping (IRClass), won ‘Classification Society of the Year’ award at the Samudra Manthan Awards ceremony on 5 December, and on another occasion, the ‘Indywood Excellence Award for Professional Achievement – Class Compliance’ was bestowed upon Mr. Suresh Sinha, Managing Director of IRClass, recognising his efforts towards the development of the classification society landscape within the maritime sector.

The Indywood Excellence Awards 2018 (Marine / Offshore / Oil & Gas) were held at HITEX Exhibition Centre in Hyderabad on 2nd December, and this year’s Samudra Manthan Awards took place on 5th December at Sahara Star in Mumbai, India.

This marks the second occasion the classification society has been named the classification society of the year – where this year, the criterion for selection included digitalisation initiatives, cyber security, maritime research and industry projects.

Mr. Sinha said: “I am humbled to be bestowed with the Indywood Excellence Award, but the real winner is the team of committed and dedicated employees of IRClass globally; who have been instrumental in expanding the classification society within the marine and oil & gas sectors. I would like to congratulate each one of them for the hard work.”

He added: “This validates the work we have been doing for our valued clients and spurs us to further raise our service standards and to help the marine as well as oil & gas industries to cope with the new dynamics of the digital ecosystem in a changing shipping landscape.”