Lloyd’s Register, China Classification Society sign joint venture

Lloyd’s Register, China Classification Society sign joint venture

   Lloyd’s Register Asia and the China Classification Society (CCS) have signed an agreement to establish a joint venture company, with the purpose of jointly offering maritime services in the Chinese language.

   The new venture will be based in Beijing.

   “The Chinese-owned classed fleet, now standing at 26 million gross tonnage, is set for continuous growth,” said David Moorhouse, executive chairman of Lloyd’s Register. “Fifteen percent of oil imports into China are currently shipped on Chinese-owned vessels, but targets have been set to increase this volume to 50 percent by the year 2015. Lloyd’s Register Asia offers an attractive suite of products and services, and conditions are now favorable for their introduction into the Chinese marketplace.”