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Saturday, January 20, 2018

CHAIRMAN AND PRESIDENT OF KOREAN REGISTER VISITS INTERTANKO

Mr. Sung Kyu Chun, Chairman and President of the Korean Register of Shipping (KR), and Mr. Jong-Won Kim, General Manager for the Statutory Services Department, visited the INTERTANKO office last week. Founded 40 years ago, the KR does Statutory requirements for 22 flags. KR and INTERTANKO have agreed to exchange views on matters of common interest and it is hoped KR will play a more active role in the Association in future.

Mr. Sung Kyu Chun, the Chairman and President of the Korean Register of Shipping (KR), visited the INTERTANKO office last week. He was accompanied by Mr. Jong-Won Kim, General Manager for the Statutory Services Department.

The KR was founded 40 years ago and since then has undergone a dynamic development. With Korea now the biggest shipbuilding nation, the Korean Register has also greatly increased its activity.

To date, the KR does Statutory Requirements for 22 flags. Approximately 55% of the ships registered with the KR belong to the Panama Flag, 25% to the Korean flag and a lesser portion to the Liberian and Greek flags.

The fleet classed by the KR is relatively young with an average age of 11.5 years. No accident has been recorded so far involving any of the KR classed ships and KR is recognised by the European Union (EU). KR has its own liability cover of up to approximately USD 5 mill. KR is closely following the EU developments, especially on the final outcome of liability in the new Class Directive.

KR and INTERTANKO have agreed to a maintain a dialogue on matters of common interest. INTERTANKO has forwarded to KR a copy of the joint OCIMF/INTERTANKO paper on Class for study and comment.

KR is an associate member of INTERTANKO and thus has the possibility to play a more active role in our Association. Standards and contractual details for newbuildings comprise one item on which KR and INTERTANKO could work together.