Authorities in South Korea, the USA, the EU and China have approved the merger of two of the world's leading shipping classification societies--the Norwegian Det Norsk Veritas and German Germanischer Lloyd, resulting in the world's largest ship and offshore classification society to the maritime industry.

China, one of the largest markets for both companies, is the last country to clear the merger, due to the company's application procedure, the company said.

The new company, named DNV GL, started operating on Sept 12, according to the company's announcement. Apart from the traditional shipping classification services, the company is also a provider of technical support and risk management services to the oil & gas industry and expertise in wind and power transmission and distribution, it said.

All certificates and approvals issued by DNV and GL in the past will remain valid. In the coming months, the new company will accelerate integration processes to ensure consistent and continuous service operations, the company announcement said.