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Focused approach.

Lloyd’s Register now in the best shape to be the trusted partner in our clients’ transformation.

Events of the past year have prompted many of us to focus on the things that matter most. The wellbeing of those nearest to us, the safety of those around us, and our collective responsibility to protect and preserve our planet for future generations.

The pandemic has undoubtedly been a dramatic catalyst for change, accelerating at breakneck speed many of the technological, societal and environmental trends that we were seeing and preparing for before.

The big question is how can we evolve and thrive in this new environment? Lloyd’s Register has been asking ourselves this question, examining our own future against this backdrop, contemplating how best to serve our clients, our employees and the Lloyd’s Register Foundation that owns us.

For us the answer is focus. Focus of our strategy, investment and resources, to build on our 260-year heritage in the maritime industry.

In a sector facing regulatory, commercial and societal pressure to decarbonise and to digitalise at pace, focus will allow us to act as a specialist trusted advisor, capable of helping our customers tackle the risks head on, while taking advantage of the opportunities that business transformation inevitably presents.

We have therefore decided to focus our growth strategy on the maritime industry, as well as the broader ocean economy. To do this, we are selling our Business Assurance & Inspection Services division and Nettitude to Goldman Sachs Asset Management, a partnership that will further unlock the growth potential of our established quality
assurance and cyber business.

These actions are part of the strategic transformation of Lloyd’s Register and a win-win for all. It also means we will have additional capital to expand our role and service offering, as we accelerate our plan to become the maritime industry’s go-to classification partner and adviser for performance and sustainability.

Now, more than ever before, we believe the marine and offshore industry will benefit from a dedicated focus. We will be better able to advise our clients with the deep sector and technical expertise that is required in these challenging times. We’ll speed up the things that we've begun to do, taking our classification and compliance offering to the next level, expanding our risk and performance advisory services and investing in market-leading digital solutions.

This is an industry we know and love. We’re proud of our contribution to keep it safe, efficient, and sustainable for over 260 years. The biggest decade of change and transformation for the maritime sector lies ahead of us. With our expanded service offering, far greater speed and agility, and absolute focus on our sector, Lloyd’s Register is now in the best shape to be the trusted partner in our clients’ transformation.

Horizons July 2021

Read more articles like this in our Horizons magazine.

Horizons brings together insight into current trends and hot topics in the maritime and offshore sectors, alongside expert views from our people on regulation, safety and innovation.

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