| Type | Industrial and Provident Society and exempt charity |
|---|---|
| Industry | Maritime and Shipping Chemicals and Power Oil and Gas Transportation |
| Genre | Classification society |
| Founded | 1760 |
| Headquarters | 71 Fenchurch St, London, United Kingdom |
| Number of locations | 246 offices |
| Key people | Thomas Thune Andersen (Chairman) Richard Sadler (CEO) |
| Services | Classification Risk Management |
| Revenue | £497 million GBP (2007)[1] |
| Employees | 7500[2] |
| Website | www.lr.org |
The Lloyd's Register Group is a maritime classification society and independent risk management organisation providing risk assessment and mitigation services and management systems certification. Historically, as Lloyd's Register of Shipping, it was a specifically maritime organisation. During the late 20th century, it diversified into other industries including oil & gas, process industries, nuclear and rail. Through its 100% subsidiary LRQA, it is also a major vendor of management system quality certification to ISO9001, ISO14001 and OSHAS18001.
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Like the famous international insurance market, Lloyd's of London, Lloyd's Register owes its name and foundation to the 17th century coffee house in London frequented by merchants, marine underwriters, and others, all associated with shipping. The coffeehouse owner, Edward Lloyd, helped them to exchange information by circulating a printed sheet of all the news he heard. In 1760, the Register Society was formed by the customers of the coffee house who assembled the Register of Shipping, the first known register of its type. Between 1800 and 1833, a dispute between ship-owners and underwriters caused them to publish a list each - the "Red Book" and the "Green Book".[3] Other than this historical association, Lloyd's Register is unrelated to Lloyd's of London.
The Society printed the first Register of Ships in 1764 in order to give both underwriters and merchants an idea of the condition of the vessels they insured and chartered: ship hulls were graded by a lettered scale (A being the best), and ship's fittings (masts, rigging, and other equipment) was graded by number (1 being the best). Thus the best classification was "A1", from which the expression A1, or A1 at Lloyd's, is derived, first appeared in the 1775–76 edition of the Register.
The Register, with information on all sea-going, self-propelled merchant ships of 100 gross tonnes or greater, is published annually. A vessel remains registered with Lloyd's until it is sunk, wrecked, hulked, or scrapped.
The Register was published formerly by the joint venture company of Lloyd's Register-Fairplay[4], which was formed in July 2001 by the merger of Lloyd's Register's Maritime Information Publishing Group and Prime Publications Limited. Lloyd's sold its share of the venture to IHS in 2009.
Lloyd's Register provides quality assurance and certification for ships, offshore structures and shore-based installations such as power stations and railway infrastructure. However, Lloyd's Register is known best for the classification and certification of ships, and inspects and approves important components and accessories, including life-saving appliances, marine pollution prevention, fire protection, navigation, radio communication equipment, deck gear, cables, rodes, and anchors.[5]
Lloyd's Rules for ships are derived from principles of Naval Architecture and Marine Engineering, and govern safety and operational standards for numerous merchant, military and privately-owned vessels all around the world. Lloyd's Rules govern a number of topics including:
Specific editions of the rules are available to cater for merchant ships, naval ships, trimarans, special purpose vessels and offshore structures.[6] A ship is known as being in class if it meets all the minimum requirements of Lloyd's Rules, and such a status affects the possibility of a ship getting insurance. Class can be withdrawn from a ship if it is in violation of any regulations and does not maintain the minimum requirements specified by the company. However, exceptional circumstances may warrant special dispensation from Lloyd's Register. Any alteration to the vessel, whether it is a structural alteration or machinery, must be approved by Lloyd's Register before it is implemented.
Ships are inspected on a regular basis by a team of Lloyd's Register surveyors, one of the most important inspections being a ship's annual Load Line Survey. Such a survey includes an inspection of the hull to make sure that the load line has not been altered. Numerous other inspections such as the condition of hatch and door seals, safety barriers and guard rails are also performed. Upon completion the ship is allowed to be operated for another year, and is issued a Load Line Certificate.
Lloyd's Register's main office is located in London at 71 Fenchurch Street. Lloyd's Register also maintains other offices globally, including Hong Kong (Asia Office) and Houston, Texas (Americas Office).