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Marine Log

September 11, 2007

GL passes 70 million gt mark

Over 6,300 vessels totaling 70 million gt are now under the regular technical supervision of Germanischer Lloyd.

The ship taking the Hamburg-headquartered classification society past the 70 million gt mark is the 1991-built, 24,606 gt bulk carrier John F, owned by Fairsky Shipping and Trading, of Greece. It flies the Cypriote flag, carries the class notation "100 A5 E1 ESP Bulk Carrier" and is ice-strengthened.

Fairsky Shipping and Trading S.A. operates 13 bulk carriers; they have an average age of 13.9 years. The business is run by C. Fostiropoulos and his family.

In only one year Germanischer Lloyd's fleet in service has grown by 10 million gt.

"This is a milestone in the history of the classification society," said Dr. Hermann J. Klein, Member of the Germanischer Lloyd Executive Board, at the classification society's Hellas Committee Meeting in Piraeus today. "Based on the incoming orders we expect a sustained growth rate again."

The current orderbook contains more than 1,400 vessels with 24 million gt under construction worldwide.

In response, Germanischer Lloyd has increased its staff level--particularly in East Asia.

In 2006, a total of 312 employees were hired worldwide. Since the beginning of this year, another 300-plus international positions have been filled. Today, Germanischer Lloyd has more than 4,100 employees worldwide.