Korean Register of Shipping

South Korea

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"The last big company doing classification work on Iranian ships, key to securing insurance and ports access, said on Friday it is stopping the work, spelling further difficulty for Iran's shipping, including its oil exports. The Korean Register of Shipping (KR) is the last of the world's top 13 classification societies to halt marine work in Iran following a recent exodus, including Britain's Lloyd's Register, triggered by Western sanctions on Tehran. 'In early August, the Korean Register of Shipping took the decision to stop providing classification services to Iranian ships. All relevant authorities and parties concerned were informed at that time,' KR said in a statement on Friday... In July, KR had sidestepped calls by U.S. pressure group United Against Nuclear Iran to halt its verification work saying it was concerned that vessel safety and marine environment protection could be compromised... IACS members such as Germany's Germanischer Lloyd and France's Bureau Veritas pulled out of Iran after being urged to exit by United Against Nuclear Iran, which includes former U.S. ambassadors on its board and is funded by private donations. The pressure group backs tougher sanctions on Iran. 'We applaud KR for this responsible and significant decision,' a spokesman for the group said on Friday. 'KR has joined other shipping services and countries in forcing Iran's business partners to now assume most all of the shipping risks for their business with the regime." (Reuters, "Iran faces new blow as South Korea firm ends ship work," 9/28/12)


"Under pressure from lobbying groups campaigning against Iran's nuclear program, some specialized companies that supply the safety certificates required for ships to dock at foreign ports are terminating their dealings with Iran... Iranian tankers in need of safety certificates aren't out of options, as Asian classification societies have stepped into the breach. A spokesman for the Korean Register of Shipping said it provides classification services to a small number of Iranian ships as part of its ongoing contractual responsibilities. The Korean Register is in charge of surveying seven tankers, according to its website." (Wall Street Journal, "Iran's Oil Ships Sail Into Troubled Waters," 6/24/12)


“KR visited Iran in early August with the aim of obtaining statutory survey status from the Iranian administration; to sign a cooperation agreement with the Iranian Classification society (ICS); and to contract a trilateral agreement between KR, ICS and the Iranian Ports & Maritime Organization (PMO).” (KRS Website, Press Release. “KR Visits Iran For Mutual Cooperation,” September 2009)