In 2010, the world’s first ship classification society, Lloyd’s Register, celebrates its 250th anniversary.

Ship classification emerged in 18th-century England. In those days, the revenue for an overseas trading merchant was tied up in the ship. To make sure of his investment, he needed to find a middle ground between earning a good return on his investment in his ship and the risk of losing the principal if the ship was wrecked. Some shipowners, especially new comers, intended to reduce cost and maximize profits by choosing poorly built/maintained inexpensive ships, paying less to an incompetent captain and crew, or carrying overloaded cargo.

Since there were many frauds and accidents, it was hard to tell which ships were safe. This increased the risk for people chartering ships or buying ships and for those who were being asked to insure the ships. To balance the interests of merchants, shipowners and insurers pooling knowledge about ships and their histories was an obvious way forward, and so, the register was born.

Exhibition date: 6th July-7th November, 2010