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Korean Register of Shipping

Korean Register of Shipping

Industry: 
Shipping
Country: 
South Korea
Contact Information: 

kr-sgp@krs.co.kr

Sources: 

 

“Korean Register (KR), an IACS member classification society, has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the Iran-Korea Technology Assurance Company, with 50-50 capital investment from KR and ICS and is expected to be fully operational in 2017. KR established a branch office in Tehran in 2010, but sanctions meant that the society then suspended most of its services. Also to comply with national and international regulations, KR de-listed the Iranian vessels on its register. In 2016, following the easing of international sanctions, KR started classing Iranian ships again. Iranian vessels are today in the process of being registered with KR, including ships from the Islamic Republic of Iran Shipping Lines (IRISL) and the National Iranian Tanker Company (NITC). In November 2015, KR signed an MOU with IRISL and ICS, further cementing its strong position with the maritime community in the country, with all parties agreeing to actively cooperate on ship surveys. A spokesman for the company said: ‘KR is a respected maritime organisation in Iran and is a preferred provider for many of the local shipping companies. Moving forward, we expect to increase our market share of the Iranian national fleet which is expected to rise due to the newbuild tanker orders resulting from the country’s expanded crude oil production and export.’” (The Maritime Standard, “KR STEPS UP PRESENCE IN IRAN,” 6/1/2016)

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"KR opened a branch office in Tehran in 2010 and regularly organised technical seminars in the country to market its services … [and] kept up a consistent effort to maintain an ongoing partnership with Iran's maritime sector. In January 2016, KR was reportedly in the process of registering 27 oil tankers belonging to Iran's national line, Islamic Republic of Iran Shipping Lines (IRISL) … [with] a combined tonnage of 2 million gt. The CEO of KR stated we have been building up trust among Iran’s maritime industry while becoming a leading class society. KR will endeavour to build a friendly relationship with Iran so that South Korea's maritime industry can make inroads into the Iranian market.” (Fairplay, “Korean ship register resumes business activity in Iran,” 2/16/2016).

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"The last big company doing classification work on Iranian ships, key to securing insurance and ports access, said on Friday it is stopping the work, spelling further difficulty for Iran's shipping, including its oil exports. The Korean Register of Shipping (KR) is the last of the world's top 13 classification societies to halt marine work in Iran following a recent exodus, including Britain's Lloyd's Register, triggered by Western sanctions on Tehran. 'In early August, the Korean Register of Shipping took the decision to stop providing classification services to Iranian ships. All relevant authorities and parties concerned were informed at that time,' KR said in a statement on Friday... In July, KR had sidestepped calls by U.S. pressure group United Against Nuclear Iran to halt its verification work saying it was concerned that vessel safety and marine environment protection could be compromised... IACS members such as Germany's Germanischer Lloyd and France's Bureau Veritas pulled out of Iran after being urged to exit by United Against Nuclear Iran, which includes former U.S. ambassadors on its board and is funded by private donations. The pressure group backs tougher sanctions on Iran. 'We applaud KR for this responsible and significant decision,' a spokesman for the group said on Friday. 'KR has joined other shipping services and countries in forcing Iran's business partners to now assume most all of the shipping risks for their business with the regime." (Reuters, "Iran faces new blow as South Korea firm ends ship work," 9/28/12)

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"Under pressure from lobbying groups campaigning against Iran's nuclear program, some specialized companies that supply the safety certificates required for ships to dock at foreign ports are terminating their dealings with Iran... Iranian tankers in need of safety certificates aren't out of options, as Asian classification societies have stepped into the breach. A spokesman for the Korean Register of Shipping said it provides classification services to a small number of Iranian ships as part of its ongoing contractual responsibilities. The Korean Register is in charge of surveying seven tankers, according to its website." (Wall Street Journal, "Iran's Oil Ships Sail Into Troubled Waters," 6/24/12)

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“KR visited Iran in early August with the aim of obtaining statutory survey status from the Iranian administration; to sign a cooperation agreement with the Iranian Classification society (ICS); and to contract a trilateral agreement between KR, ICS and the Iranian Ports & Maritime Organization (PMO).” (KRS Website, Press Release. “KR Visits Iran For Mutual Cooperation,” September 2009)