24 Maritime Reporter & Engineering News
within our industry as the basis for
increasing our competitiveness and for
achieving the reputation of a responsible
industry we deserve. In this respect I
strongly support Admiral Mitropolous,
Secretary General of the IMO, in his
efforts for improving the shipping
image.
Briefly describe your outlook for the marine
business in 2005 and beyond?
LR: The shipping industry is still enjoy-
ing an unusually prosperous period of
growth, and with owners eager to order
new tonnage, we have similarly benefit-
ed. This year we reached a new mile-
stone, with 120 million gt in Lloyd's
Register class, the highest in our history.
We are strong in tankers and bulk carri-
ers, and we are market leaders for LNG
ships, passenger ships and large contain-
er ships. Recent significant classifica-
tion contracts include four 10,000 teu
container ships for COSCO at Hyundai
Heavy Industries - the largest declared-
capacity container ships ever ordered -
and four +200,000 cubic metre mem-
brane-type LNG ships for Pronav Ship
Management at Daewoo Shipbuilding
and Marine Engineering.
RINA: I think legislative pressure will,
over the next 10-15 years, drive consid-
erable renewal of the fleets of some
types of ships, such as tankers and bulk
carriers. Couple that with increasing
investment in the construction of high
standard ships, such as cruise ships and
cruise ferries, shipowners will have con-
siderable recourse to banks to finance
new initiatives. The financial world is
expected to face the impact of the Basel
II agreement, and the new rating criteria
for risk management in the financing of
the industry will have a profound effect
on ship finance. The money shipping
needs will be there, but under a more
informed control. I have a tremendous
vision for the future of class. I feel very
positive about our industry. Shipping
has been the first truly global business,
and our members offer services all over
the world, to clients from anywhere,
employing staff from all over the world,
but working to a common standard. We
can build on that network and experi-
ence. We can be the leaders in develop-
ing our communities, not just in setting
standards in shipping, but in all sorts of
areas outside the marine business. Social
and financial responsibility, environ-
mental management, quality control and
risk management are all areas where
class has the network and the knowledge
to help industries and communities.
BV: Well, shipping has a habit of mak-
ing forecasters look silly. I foresee a
continuing strong demand for shipping,
as India industrializes and China
becomes a consumer economy. There
will be more demand for gas transporta-
tion and certainly more demand for
recreation at sea, both in cruise shipping
and at the yacht end of the scale.
Frankly, I don't see much shrinking, as
the world will need workhorse ships. So
growth in high tech gas carriers, contin-
ued growth in ship sizes, more innova-
tive cruise ships, and continued strong
business with workhorse vessels. We
shall grow our market share because
owners and yards want to be associated
with quality which is delivered in a user
friendly way, and because we shall con-
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