Shipping is a global business and needs global monitoring in order to respond to security concerns posed by the ships across the world. LRIT is an international tracking and identification system introduced by the IMO under its SOLAS chapter 5 to ensure a thorough tracking system for ships across the world.
It came to existence on 19th May 2006. Ships which were built on or following 31st December 2008 were required to have this system.
Long Range Identification and Tracking(LRIT) is based on satellite communication. The most important advantage of having this system is that the information required to be shared is restricted only to those parties which are required to have it.