|Type||Company limited by shares. Sole shareholder is the Lloyd’s Register Foundation, a UK registered charity.|
|Industry||Maritime and shipping|
|Genre||Independent risk management organisation and classification society|
71 Fenchurch Street, London,
Number of locations
|Thomas Thune Andersen (Chairman)|
Alastair Marsh (CEO)
Nick Brown (Marine & Offshore Director)
David Clark (Energy Director)
Paul Butcher (Director, Business Assurance and Inspection Services)
Management systems certification
|Revenue||£868 million[dubious ]|
Number of employees
|Parent||Lloyd's Register Foundation, UK registered charity|
|Subsidiaries||Nettitude , Hanseaticsoft |
Lloyd's Register Group Limited (LR) is a technical and business services organisation and a maritime classification society, wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. The organisation dates to 1760. Its stated aims are to enhance the safety of life, property, and the environment, by helping its clients (including by validation, certification, and accration) to ensure the quality construction and operation of critical infrastructure.
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 and gas, process industries, nuclear, and rail. Through its 100% subsidiary Lloyd's Register Quality Assurance Ltd (LRQA), it is also a major vendor of independent assessment services, including management systems certification for quality certification to ISO9001, ISO14001 and OSHAS18001. Lloyd's Register is unaffiliated with Lloyd's of London.
In July 2012, the organisation converted from an industrial and provident society to a company limited by shares, named Lloyd’s Register Group Limited, with the new Lloyd’s Register Foundation as the sole shareholder. At the same time the organisation gave to the Foundation a substantial bond and equity portfolio to assist it with its charitable purposes. It will benefit from continued funding from the group’s operating arm, Lloyd’s Register Group Limited.
The organisation was named after a 17th-century coffee house in London that was frequented by merchants, marine underwriters, and others, all men associated with shipping. The coffee house 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 shipowners and underwriters resulted in each group publishing a list—the "Red Book" and the "Green Book". Both parties came to the verge of bankruptcy. They reached agreement in 1834 to unite and form Lloyd’s Register of British and Foreign Shipping, establishing a General Committee and charitable values. In 1914, with an increasingly international outlook, the organisation changed its name to Lloyd's Register of Shipping.
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) were graded by number (1 being the best). Thus the best classification "A1", from which the expression A1 or A1 at Lloyd's is derived, first appeared in the 1775–76 ion of the Register.
The Register, with information on all seagoing, self-propelled merchant ships of 100 gross tons or greater, is published annually. A vessel remains registered with Lloyd's Register until she is sunk, wrecked, hulked, scrapped or withdrawn from the register by the vessel's owner.
The Register was published formerly by the joint venture company of Lloyd's Register-Fairplay, which was formed in July 2001 by the merger of Lloyd's Register's Maritime Information Publishing Group and Prime Publications Limited. Lloyd's Register sold its share of the venture to IHS Markit in 2009.
The American Lloyd’s Registry of American and Foreign Shipping was established in 1857, and the American Lloyd’s Register of American and Foreign Shipping issued from at least 1849 until at least 1883 by the "Board of American Lloyd's".
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, ropes, and anchors.
LR'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. LR's Rules govern a number of topics including:
Specific ions of the rules are available to cater for merchant ships, naval ships, trimarans, special purpose vessels and offshore structures. A ship is known as being in class if she meets all the minimum requirements of LR's Rules, and such a status affects the possibility of a ship getting insurance. Class can be withdrawn from a ship if she 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 load line survey – due once every five years. 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.[clarification needed]
Lloyd’s Register provide a list of rules and regulations to the public.
In 1833 the Österreichischer Lloyd ("Austrian Lloyd") company was formed in the then-Austrian port city of Trieste, consciously modeling itself on the British company and seeking to publish a similar register. Later it also became an important shipping line.