We have during the last year signed fleet agreements for more than 300 vessels. The deals are signed with Teekay, Genco, Pacific Basin and ARC. In addition, we have ongoing pilot projects with several shipping companies and have currently almost 500 IHM projects in the pipeline.

 

“This confirms the strategy Grieg Green has been working along and we expect this market to grow considerably the coming years.”

 

The EU Ship Recycling Regulation (EU SRR), which entered into force in 2013, states that all vessels over 500 GT flying under European flag or arriving in European ports must all carry a valid IHM on-board. In addition, the inventory list will have to be updated throughout the operational life of the vessel. Grieg Green has since 2013 prepared for this regulation by providing IHM’s for vessels going for recycling. In 2018 we see more and more shipowners initiate IHM’s for existing vessels in order to comply by 2020 when the regulation is effective. This confirms the strategy Grieg Green has been working along and we expect this market to grow considerably the coming years. We are currently the only IHM Expert company in the world that has approval from all the major IX Classification socities, namely DNV-GL, ABS, LR, CSS, BV, ClassNK and RINA and have since 2013 delivered more than 200 IHM Part I reports.