Classification societies are not as reliable today as they were 10 years ago, a survey has found.
With one week till Maritime CEO’s latest industry survey closes, 60% of the 550 respondents so far think class is not as reliable as a decade ago.
“Class societies have expanded too fast without consolidating their systems and methods,” one reader wrote, adding: “There is too much attention to the profit motive and very less attention on client servicing or serving their interests. They have many other business areas and maritime business is milked to make other businesses survive. Their expectations from maritime business are 3-4 times that from other business areas. They are also reducing manning in maritime business impacting the services in the maritime sector.”
Another reader noted: “Common Structural Rules were essential for the industry in that they set a quality standard that every class should deliver. But they also made it harder for them differentiate their product, driving the industry towards commoditisation and a dangerous race to the bottom on price. Class needs to make a decision. Do they want to sell products, or consult? They can’t do both.”
The class question is one of eight topical subjects in the survey, which also looks at the VLCC markets, Big Data, piracy and seafarer wellbeing.
The survey takes just two minutes to fill in and there is no registration. Access the survey here.