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Lloyd's Register

Lloyd's Register

Industry: 
Financial Services, Shipping
Value of USG Contracts: 
1
States: 
TX
Country: 
UK
Sources: 

"After coming under pressure from the United States, the ship classification society Lloyd’s Register said in late April that it would close its office in Iran and stop certifying the safety of Iran’s ships." (The Washington Post, "Iran, unable to sell oil, stores it on tankers," 5/14/2012)
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"Lloyd's Register, a leading maritime risk management firm, has shut its operations in Iran and can no longer vouch for the safety of the OPEC member's fleet due to Western sanctions, the head of the company told Reuters. Lloyd's Register, a classification society that verifies the safety and environmental standards of vessels, has stopped assessing around 60 tankers and container ships owned by Iran's NITC and Islamic Republic of Iran Shipping Lines following pressure from the United States... 'The Americans came to us and said that if we continued to work for the Iranians we would be blacklisted in America,' Richard Sadler, the London-based chief executive of Lloyd's Register, said on the sidelines of a conference in Singapore. 'There was a lot of confusion about the sanctions and actually the recommendations was that it was better for British classification societies within Europe not to be dealing directly with NITC,' he said." (Reuters, "Lloyd's Register withdraws from Iran due to sanctions," 4/26/12)

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"However, other firms — notably Lloyd’s Register, Bureau Veritas and Germanischer Lloyd — continue to provide services to Iranian and other vessels working in Iranian ports or waters." (Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)

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Lloyd's Register has offices in the Iranian cities of Bandar Abbas, Mahshahr and Tehran. (Lloyd's Register website "List of Offices by Country," February 2010)

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In 2008, Lloyd's Register America, Inc. acquired Martec, which has performed business in Iran's energy sector. (Martec Press Release)