India’s ship classification society, The Indian Register of Shipping or IR Class, will list its industrial services unit – IRCLASS Systems and Solutions Pvt Ltd (ISSPL) – sometime in April-May, Executive Chairman, Arun Sharma, has said.
A ship classification society verifies ships for its seaworthiness.
IRS, a not-for-profit entity set up in April 1975, is one of the 12 full time members of the International Association of Classification Societies (IACS).
More than 90% of the world’s cargo carrying tonnage is covered by the classification design, construction and through-life compliance rules and standards set by the twelve member IACS.
The primary role of ship classification societies has not changed since inception – safety of life and assets at sea and on land and protection of environment, Sharma said at the golden jubilee celebrations of IRS on 22 January.
“However, over the years, because of industry pressures, every class society, including us, moved also into other areas of industry. We do certification in oil and gas, power, building infrastructure and many other areas and we are doing that in a big way,” Sharma said.
Some 40 years ago, IRS started the industrial services division and hived it off into an independent company in 2014.
“ISSPL has seen phenomenal growth in the last few years and in fact we are ready to list it (on the stock exchange) in the next 2-3 months, somewhere in April or May,” Sharma disclosed.
“ISSPL has had some very good people who were able to get businesses from across the sectors and I think that it has a much larger canvas, (whereas) shipping is limited to shipping,” Sharma added.
IRCLASS Systems and Solutions provides one stop solutions for testing, inspection and certification requirements of industry to achieve quality, safety and reliability across the value chain.
The industrial services unit of IRS provides inspection services to various sectors such as oil and gas, petrochemicals, fertilizers, residential, commercial, retail, bridges, ports, airports, roads, railways, stadiums, logistic warehouses, special economic zones, dams, irrigation structures, thermal, nuclear, hydro, solar, wind, general engineering, steel, cement, chemical, electrical, electronics, instrumentation, automotive, aerospace, defence etc.
The industrial services help clients during the whole life cycle of the assets (CAPEX and OPEX) from planning, design, procurement, manufacturing, construction, testing, commissioning and operation.
It has a multidisciplinary team comprising management professionals, techno-commercial experts, pool of qualified engineers in various disciplines CSWIP, ASNT, API, AWS, NACE, chartered engineers, statutory experts, IBR, PESO and PNGRB services, structural repair specialist, HSE experts, design review, project management assistance, second/third party inspections, field quality assurance, advanced non-destructive testing, owner’s/
lender’s independent engineer, solar plant performance testing, vendor capability audits, NDT and condition assessment, in service inspection, laboratory testing-GML, Bangalore, technical due diligence, failure analysis, transaction advisory/technical due diligence and techno economic viability study.
ISSPL also has a wholly owned subsidiary SAFESS, which undertakes inspection, testing and certification of plant, equipment and machineries.
SAFESS is involved in testing, inspection and certification/re-certification of mounded bullets and Horton spheres as per PESO Rules.
It also provides services for inspection of pipelines, fire- proofing, repair, restoration and modification of equipment.
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