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 four percent in the past year, with the foreign flag fleet seeing a particularly impressive growth of 22 percent which is 16 percent in tonnage terms and indicative of strong overseas growth.
Flag Recognition and Geographical Presence
IRClass is now recognized 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…
