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Annual Report 2024

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Annual Report 2024

Digital Annual Review

Welcome
Year in review 2024

Strengthening Trust.
Shaping Progress.

Year in review 2024

2024 was a year of measured growth, resilience, and strategic execution for INSB Class.

We maintained stable fleet growth, expanded our portfolio of flag state authorizations, and advanced on the development of our internal digital tools to enhance operational efficiency and service transparency.  Our actions in 2024 laid the groundwork for sustained performance and continued trust from stakeholders into 2025 and beyond.

 

At the end of year 2024, our total fleet count continued its upward trajectory, reaching 5,509 vessels—a notable +6.47% growth compared to the previous year.

This expansion reflects INSB Class’s deepening presence across international waters and its unwavering commitment to supporting Greece’s domestic maritime sector. Of these vessels, 522 sailed under international flags, while 4,987 carried the Greek flag, collectively representing an aggregate gross tonnage of 3.8 million GT.

 

Fleet Highlights

Operating period 2024


In 2024, INSB Class strengthened its reputation as a trusted partner for maritime operators worldwide. Our Fleet Register grew to include a wide variety of vessels across multiple flag jurisdictions and operational profiles, reflecting the confidence of shipowners in our expertise, integrity, and commitment to safety. From commercial shipping and yachting to offshore and specialized vessels, each addition underscores our role in shaping a safer, smarter, and more sustainable maritime industry. These fleet developments are a testament to the value of our services, the dedication of our people, and the strategic vision that drives INSB Class forward.

MABROOKAH

SHIPPING

NAME OF VESSEL: MABROOKAH
IMO: 7903732
VESSEL TYPE: BULK CARRIER
FLAG: PALAU

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PELORUS

YACHTING

NAME OF VESSEL: PELORUS
IMO: 8977273
VESSEL TYPE: PLEASURE YACHT
FLAG: ST. VINCENT & THE GRENADINES

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TAMESIS

OFFSHORE

NAME OF VESSEL: TAMESIS
IMO: 9616228
VESSEL TYPE: SELF ELEVATING UNIT
FLAG: ST. VINCENT & THE GRENADINES

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ALKYON V

GREEK SHIPPING

NAME OF VESSEL: ALKYON V
IMO: 1122611
VESSEL TYPE: OPEN P/C FERRY
FLAG: GREEK

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2024 was a defining year for INSB Class — a year where strategic clarity met purposeful transformation. Guided by our core values of integrity, reliability, and maritime expertise, we navigated an evolving industry landscape with confidence and conviction. As digital innovation accelerates and the call for decarbonization intensifies, we see not challenges, but opportunities to lead with foresight and impact. Our resilience, adaptability, and collective drive are shaping a safer, smarter, and more sustainable maritime future — one built on trust, excellence, and an unwavering commitment to progress.

 

Our Strategic Mindset

“We view strategic adaptability as a strength—not a reaction. By staying close to our clients, our regulators, and our people, we build a resilient future for maritime safety and innovation.”

Pantelis Chinakis Glaras, President & Managing Director, INSB Class
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Pantelis Chinakis Glaras, President & Managing Director, INSB Class
Towards a Safer, Smarter, and Sustainable Maritime Future

In 2024, INSB Class continued to advance its mission of safeguarding life, property, and the marine environment through unwavering dedication to safety, performance, and innovation. Across the shipping, yachting, offshore, domestic, and environmental segments, our focus remained on enhancing technical excellence, reinforcing compliance, and supporting our clients’ ambitions toward more efficient and sustainable operations. Guided by our core values and strengthened by our collective expertise, INSB Class demonstrated consistency and adaptability, in a year defined by transformation and forward momentum.

Shipping

In 2024, INSB Class strengthened its position in the maritime sector, with vessel additions rising across key ship categories. Cargo ship operators continued to place their trust in our classification and statutory services, driving a 6.47% growth in the consolidated fleet compared to 2023. This momentum reflects both market confidence and the dedication of our teams to delivering excellence.

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Offshore

In 2024, INSB Class strengthened its commitment to operational excellence, delivering tailored offshore technical services. Survey assignments rose 18.4%—from 98 to 116—covering structural integrity, dynamic positioning, and safety management reviews. This growth reflects our focus on maintaining the highest standards of technical oversight across our entire offshore portfolio.

Yachting

In 2024, INSB Class continued to strengthen its role within the global yachting community, delivering trusted classification and statutory services to a growing number of private and commercial yachts. Our focus on technical integrity, client partnership, and responsive support has further cemented INSB Class as a preferred choice for yacht owners, managers, and flag administrations alike.

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Greek Domestic

Throughout 2024, INSB Class supported the Greek maritime sector with inspections and certifications. The register added 553 new vessels, reflecting strong operator trust. By serving passenger, cargo, and multipurpose fleets, we enhanced safety oversight and regulatory integrity across one of Europe’s most diverse coastal sectors, reinforcing our commitment to excellence.

Environmental

In 2024, INSB Class enhanced shipowner support through a robust environmental compliance portfolio. We provided surveys, technical assessments, and certifications for MARPOL, Ballast Water Management, and GHG decarbonization mandates. Our proactive guidance ensured regulatory readiness and sustainable operations, helping the fleet meet evolving international standards and improve overall environmental performance.

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Inter-Industry Engagement

In 2024, INSB Class prioritized maritime collaboration and cross-industry partnerships. Through active participation in global conferences and forums, we shared innovative solutions and best practices. These initiatives reinforced our status as a forward-thinking classification society, strengthening key relationships and fostering coordinated action to address the industry’s emerging challenges.

AR 2024
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