LLOYD's REGISTER
Marine business achieved revenues 14.7% up in 2007/08

DEC, 10.2008


 
 

In his report on the accounts for the year ended June 30, 2008, David Moorhouse, (chairman of Lloyd's Register), has announced that group income rose by 19.6% to GBP 594m from GBP 497m (2006/07).

The group's marine business achieved revenues 14.7% up on the prior year. The marine market, having enjoyed a 6 year period of exceptional growth, has moved to a period of high volatility and significant decline in the number of new ship orders.

While Lloyd's Register's new construction order book looks very positive through 2010, it is conscious of the potential for high levels of existing ship order cancellation and of the need to adopt a proactive stance in this challenging market. In the year, the marine business again achieved great success in attracting quality tonnage to Lloyd's Register class and continued to put a very strong emphasis on the quality of the vessels in its classed fleet.

Despite the number of vessels disclassed exceeding the number of transfers into class, new constructions entering the fleet have increased the total fleet size to a record 144 mgt as of June 2008.