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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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Class Society Q&A

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