Glossary
Class Society
Definition: A Class Society is an independent technical body that surveys and certifies a vessel's structural, mechanical and systems standards. Typical class societies: Lloyd's Register, DNV, Bureau Veritas, ABS, RINA, Türk Loydu.
Why it matters
A valid class certificate is a prerequisite for financing. To be insurable, to charter, to be accepted at ports — the vessel must be in class. A vessel that has dropped class is not risk-free for a financier: insurance + contracts + port access are all at risk.
Class survey cycles
- Annual survey — baseline check
- Five-year (special) survey — detailed audit
- Ten-year (renewal) survey — comprehensive renewal
- Intermediate survey — 2.5-year mid-cycle