US Coast Guard Releases Latest Port State Statistics; ABS Retains Top Ranking With Zero Detentions.

Business Editors

HOUSTON--(BUSINESS WIRE)--May 2, 2000

For the second straight year, ABS has been ranked by the United States Coast Guard Port State Control statistics as the best major classification society. Released this week, figures showed that not a single ABS classed ship was detained in a US port in 1999 for a class-related deficiency (www.uscg.mil/hq/g-m/psc). This is the first time that a major society has recorded a perfect score.

"Our goal at ABS has always been to have zero class-related detentions. To have achieved that goal in US waters in 1999 is the result of a tremendous effort by our worldwide team of professional surveyors," said ABS President, Robert D. Somerville. "It is also a testament to the quality of the ABS fleet and to the owners who class their vessels with ABS."

In the current commercial environment, no owner can afford to have his ship detained. And for tanker owners, a high profile port state detention could adversely affect that vessel's future in the market. "Classing with ABS gives owners the confidence that their vessels meet the toughest standards applied under the Port State Control regime," said ABS Chief Surveyor Gus Bourneuf.

Class societies are evaluated on their performance over a rolling three year period by the US Coast Guard. With a 0.24 percent three year detention ratio, ABS not only retained the best ranking of all major societies but further improved its performance from the previous year's 0.44 percent average. Since 1997 the Coast Guard logged a total 2,894 distinct arrivals by ABS classed vessels. Just seven of those ships - 4 in 1997, 3 in 1998 and none in 1999 - were detained for a class-related deficiency.

The overall detention ratio for all ships from all class societies averaged 0.79 percent for the three year period.

"We view these statistics as the best independent, public evaluation of our performance," Somerville noted. "We have set an incredibly high standard for ourselves. Not only is ABS determined to hold on to this premier ranking but we continue to strive for a zero class-related detention record in every major Port State jurisdiction."

Recent, high profile, shipping casualties have renewed government and public scrutiny of the shipping industry and of the classification profession. "At ABS we take the responsibilities that are placed on class very, very seriously," added Somerville. "We are committed to raising the safety bar to minimize the risk of casualties and to protect life, property and the environment. These latest statistics confirm our belief that adherence to the highest possible safety standards is not only possible within the market but is the hallmark of the successful operator."

Founded in 1862, ABS is a leading classification society devoted to promoting the security of life, property and the marine environment through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities.