Protect Your Capital Investment
Financiers usually require that a vessel has been designed, built and maintained to appropriate classification standards.
Conform to Underwriting Requirements
Classification is generally mandated by insurance underwriters because it signifies that a vessel complies with industry-developed standards.
Exercise Due Diligence
Classification is one indication that the ship owner has exercised due diligence during the construction and service life of the vessel.
Demonstrate Proper Maintenance
To remain in class, a vessel must undergo periodic surveys to verify that it is maintained to class standards and in conformance with the Rules.
Comply with Statutory Requirements
The governing authorities in most nations have mandated that certain vessels entering into their registry be classed.