LR and MarineCFO team on Subchapter M compliance

SEPTEMBER 19, 2016 — Lloyd's Register (LR) has signed an agreement to work with Houma, LA, based software specialist MarineCFO to provide comprehensive solutions for compliance with Subchapter M.

This follows LR's informing the U.S. Coast Guard of its intention to assume Subchapter M third party organization duties.

Subchapter M of Title 46 of the U.S. Code of Federal Regulations now requires upwards of 5,000 previously uninspected towing vessels to become compliant by August 2018 with a USCG inspection regime that includes the development, certification, and implementation of towing safety management systems by workboat operators.

LR is well placed to assist the towing vessel industry with meeting these requirements because of its extensive experience in safety management systems, inspection expertise and full authorization granted by the USCG.

LR is also a global market leader in the tug and inland waterway markets, classing over 21% of the world's IACS tugboat tonnage, including 30% of the IACS tugboat tonnage on order.

A technology provider to the American workboat industry since the late 1990s, MarineCFO has developed Vessel365, a cutting-edge software package that provides an efficient, comprehensive, and cost-effective solution to the documentation requirements under Subchapter M.

"The benefits of innovative thought leadership, a common maritime heritage, and a shared attitude towards mariner safety has never resonated more fervently than through this Subchapter M commitment by Lloyd's Register to the American towing industry," said Mark Darley, LR's Marine and Offshore Manager for the Americas. "We are delighted to be writing another exciting chapter in our long and storied history."

"Subchapter M is an opportunity for the American inland towing industry to innovate effective workboat safety management systems that other maritime markets can easily emulate. Lloyd's Register and MarineCFO are perfectly positioned to assist in the implementation and ongoing support of Subchapter M and the requisite Towing Safety Management Systems," said Dean Shoultz, CTO of MarineCFO.

"The recurring challenge for towing vessel owners will be to implement a compliant towing safety management system with as little impact on commercial operations as possible." said Rafael Riva, LR's Marine and Offshore Business Development Manager for the Americas. "LR has built a reputation in the U.S. on customer satisfaction through value and flexibility. The large LR survey and audit staff are strategically distributed throughout the country to meet the expansive delivery requirements created by Subchapter M."

"Any viable towing safety management system must be complemented by a transparent, easy to use recordkeeping solution that is scalable, affordable, and dependable," said David Hanowski, CEO of MarineCFO. "Vessel 365 exceeds Subchapter M recordkeeping requirements and is the natural complement to LR's compliance and quality assurance service portfolio. The Subchapter M agreement between Lloyd's Register and MarineCFO will be a tough combination to beat especially from a pricing, servicing, and technology perspective."

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