Lloyd’s Register Ends Ties with Iran

Iran state-owned Press TV reported that Lloyd’s Register, the leading maritime risk management organization, has stopped classification and certification of nearly 60 tankers and containerships owned by the National Iranian Tanker Company (NITC) and the Islamic Republic of Iran Shipping Lines (IRISL). Lloyd’s Register began its operations in Iran in 1936.

A ship is known as being in class if it meets all the minimum requirements of Lloyd's Rules, and such a status is a needed for a ship to get insurance.

The Lloyd’s move follows the decision late last year by DNV, another major assessment firm, the to end its ties with Iran. There are still other smaller firms that could assess and certify Iranian tanker vessels.