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BV accused of 'serious breach' of industry ethics by Germanischer Lloyd.

Europe Intelligence Wire

| December 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

GERMAN classification society Germanischer Lloyd has accused its French rival Bureau Veritas of a 'serious breach' of industry ethics over its hostile takeover bid, writes Julian Bray.

GL has written to the International Association of Classification Societies asking it to investigate its claim that BV has broken the association's formal code of ethics.

Although it is unclear what if any sanction IACS could impose, GL's complaint signals a significant ratchetting up of the war of words between the two sides.

Torsten Schramm, GL's head of Europe, Middle East and Africa, told a press dinner in London on Wednesday night: 'Today we sent a formal complaint against BV to the IACS council. It is a strong breach of the IACS code of ethics.'

GL claims BV has breached parts 2.1, 2.2 and 3.1 of the code, which is available on the IACS website.

GL cited part 2.1 in particular. It states: 'Each society has to realise and accept that the variety of societies as reflected in IACS is desired from all perspectives.'

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