Classification societies need to respond to growing regulatory demands to develop advanced marine technology, according to Lloyd's Register (LR) chief executive Richard Sadler.
Speaking to TradeWinds on the day he signed an agreement with Southampton University to build a state-of-the-art technology centre that will help the organisation advance its technological capability, Sadler said the demands on class expertise is growing.
The £116m ($180m) deal, part funded by the UK government, will see LR move its technology department to the south coast in the joint academia and industry venture. Sadler said: "What we are seeing more and more now is that regulation is coming first, then there is an increasing need for the industry to develop the technology to meet it.