Samsung Heavy Industries Receives Top Grade in Shipyard Risk Management Evaluation

A Samsung Heavy Industries employee is conducting a safety experience using VR equipment.

[Asia Economy Reporter Choi Dae-yeol] Samsung Heavy Industries announced on the 22nd that it received the highest risk management rating of A from the Joint Hull Committee (JHC), established by a British marine insurance company. According to the company, it was the first in the industry to receive an A rating in 2010, and currently, Samsung Heavy Industries is the only domestic shipyard to have received this rating. JHC is an organization established in 1910 by British insurance companies to discuss various regulations related to ship insurance, including terms, standards, and rules.

The shipyard risk management evaluation assesses 13 items, including compliance with HSE regulations and procedures, pollution control status, emergency response capability, and operation of the work permit system, assigning grades from A to E. An A rating indicates a ‘significantly low risk of accidents,’ and the evaluation results are used as reference indicators by marine insurance companies worldwide when determining shipbuilding insurance rates. This means that insurance premiums can be reduced.