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Premuda Achieves ISO And ABS Certification

Maritime Activity Reports, Inc.

October 7, 2003

Premuda, founded in 1907, and the first Italian shipping company to be publicly listed on the stock exchange, has achieved certification to the rigorous international quality and environmental standards of ISO 9001-2000 and ISO 14001-1996. The Genoa based operator of tankers, bulk carriers and an offshore production unit has also achieved certification to the voluntary Safety, Quality and Environmental (SQE) management standards of ABS, one of the world’s leading classification societies. The company is the first Italian based shipping company to achieve this integrated certification. Premuda is a prominent provider of international maritime transportation for the carriage of liquid and dry bulk cargoes, deploying a fleet of 25 ships aggregating more than 1.6 million deadweight tonnes. It has also been pursuing an aggressive fleet renewal strategy in anticipation of the new regulations mandating double hulled tankers, coupled with the disposal of the single hulled vessels. Most recently (May 2003), Premuda extended its activities to the offshore sector with the introduction of the floating production, storage and offloading (FPSO) unit Four Vanguard. Unlike other FPSOs this unit is uniquely fitted with a double bottom to provide additional protection against potential environmental incidents. The ABS-classed vessel is currently operating off the North West coast of Australia, an area of particular environmental sensitivity. In conjunction with this fleet renewal and expansion program, Premuda has also sought to demonstrate its commitment to the most advanced standards for safety, quality management and environmental protection. Those efforts are now recognized by gaining SQE certification from ABS in compliance with the requirements of the ABS Guide for Marine Safety, Quality & Environmental Management. Demonstrating its company-wide commitment to these standards, Premuda will adopt the same highly-demanding SQE standards on each ship within its fleet, in addition to its shore-based offices and operations. The ABS Guide for Marine Safety, Quality and Environmental Management has been developed with the objective of improving safety and environmental performance in the management and operation of ships. The ABS Guide provides the maritime industry with a model for implementation of management systems concerned with these issues. Companies seeking certification to this Guide must, as a condition of certification, conform to the requirements of the ISM Code, ISO 9001:2000, and ISO 14001:1996 standards as relevant to the selected scope of their management system. Company Certification in accordance with the ISM Code “Document of Compliance” is a mandatory requirement of Flag Authorities. ABS is recognised and authorised by the Italian Government, and Premuda has received this certification from the Italian Administration on the basis of the review and audits carried out by ABS qualified auditors. The ISO 9001:2000, ISO 14001:1996 and SQE are not regulatory requirements for ship owners and operators. Premuda has voluntarily complied with these highest standards for protecting life, property and the natural environment to demonstrate that it has exceeded the industry standard. Premuda is one of only 17 shipping companies world-wide within the ABS SQE certification program that have achieved this ultimate level of management system certification.

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