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IRClass Foreign Flag Fleet Reg. Up 16%

Maritime Activity Reports, Inc.

January 14, 2020

The Indian Register of Shipping (IRClass) said that the classed fleet registered approx. 3% growth in the past year.

The ship classification society said that its foreign flag fleet continued to grow at a robust pace with 16% more vessels added during 2019 demonstrating strong global acceptance of IRClass services.

IRClass received several flag authorizations in 2019 including key flags like Cyprus and Denmark and is now recognized 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.

IRClass has 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.

In the offshore sector,  IRClass is involved in new construction projects like FSRU, FPSO as well as conversion to FPSO & well stimulation vessels.

"While the classification 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 digitization. To meet its growth needs, it will concentrate on augmenting its human resources as well as updating skill sets of its team throughout 2020," said a press release from the company.

IRClass will also work to further strengthen its footprint in Europe, Asia Pacific and the Middle East and establish its presence in Africa and South America, it said.

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