Page 33: of Maritime Reporter Magazine (March 2011)

March 2011 www.marinelink.com 33

DIFFERENT CULTURE:

NEW OPPORTUNITIES

Inspectorate has changed hands more than a few times in the recent past, usu- ally with investors hoping to make money. The Bureau Veritas acquisition represents a different type of corporate owner and a different culture at the top.

As Inspectorate brings complimentary technical expertise to the group, backed by Bureau Veritas’ commitment to invest in commodities testing, the ability to leverage connections between clients provides a new dimension for both groups.

For Bureau Veritas, known primarily in the maritime sectors as a founding mem- ber of International Association of Clas- sification Societies (IACS) and one of world’s largest ship classification soci- eties, the access to Inspectorate’s labora- tory network could allow the parent company to expand its offerings to its shipowner clients. For Inspectorate, the synergies allowed by a potential increase in business from its meat-and-potatoes maritime sector are as yet unknown, but probably bode well for a firm that re- ported oil and petrochemical revenues to 59 percent of its 2009 revenues.

Inspectorate, perhaps for the first time ever, finds itself engaged in connected ac- tivities (marine and commodities) with a business parent that gives access to a myriad of potential clients in ship own- ers and managers that otherwise might be unreachable.

RISK: THE COMMON THREAD

For his part, Bernard Anne is clearly excited about the future prospects. “Look at where this can lead. As a marine busi- ness we class around 9,500 ships, owned in every country on the globe and trading to and from every country on the globe.

All of them burn fuel, over 35 percent of the fleet are bulkers carrying commodi- ties and over 20 percent are tankers car- “It is a long time since Bureau Veritas was just a classification society. Over the last 15 years we have been doubling in size every five years by widening both our range of services and our geographical footprint,” said Bureau Veritas EVP Bernard Anne