Arun Sharma, Executive Chairman, IRClass. Photo: IRClass

Indian Register of Shipping Cautiously Optimistic for 2018

By Aiswarya Lakshmi!!!

Continuing its growth trajectory, Indian Register of Shipping has concluded 2017 on a successful note with increased class fleet, growing global recognition, improved geographical presence and strengthened its capabilities through several new initiatives.

In line with its performance year after year, the classed fleet has grown 5.3% in numbers and 4.8% in tonnage terms. In the last three years IRClass' classed fleet has grown from 10.89 to 12.70 Million GT. Given the prevailing stressed maritime environment, this consistent growth is heartening, said a press release.
IRClass has expanded its presence in countries including Turkey, Malta, Rotterdam, Indonesia, Malaysia and Bangladesh to service the growing needs of customers and provide them with quicker access to services.
IRClass today is recognised by 39 flag states globally which together represent approximately 55% of the world's tonnage. Key flag states like US Coast Guard and Malta were added this year apart from others like Latvia, Thailand, Antigua & Barbuda, Cook Islands and Bangladesh.
IRClass has developed Rules for LNG Fuelled Coastal and Inland vessels. These Rules will help the maritime stakeholders to promote environment friendly fuels for Coastal as well as Inland vessels.
Digitalisation, Big Data, Cyber security, LNG fuelled vessels, Vessel Performance Management are amongst the key areas of focus for IRClass in 2018.
Though the shipping markets have been depressed for a considerable period, some indications of an upturn are being seen.
"The focus of IRClass will continue to be on enhancing its classed fleet, increasing its global footprint, gaining more flag recognitions and further strengthening its image as 'Class by Choice'", said IRClass Managing Director, Suresh Sinha.
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