Classification societies are one of key organizations that promote the
highest standards in ship safety and quality shipping. The paper reviews
the ship classification industry and identifies what the classification
societies can do to add value to the maritime industry more effectively.
To meet this objective, an analysis of the five competitive forces is carried
out, together with an opinion survey performed on some of the leading
shipping companies, to assess and to establish some of the key factors
which should be considered when formulating an overall business strategy
for the growth of the classification services business. The findings from
the study are discussed with the strategic options and choices. A
classification services industrial value chain analysis together with ship
management and operation is undertaken to explore the opportunities for
classification societies. These findings also provide guidance to
policy-makers who design and seek to implement more effective
international shipping policies.