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ABS And Russian Register Sign New Bilateral Agreement

Maritime Activity Reports, Inc.

November 2, 2005

A new bilateral agreement that extends the long-standing agreement on cooperation between ABS and the Russian Maritime Register of Shipping (RS) has been signed by the two societies in St Petersburg (Russia). The wide ranging, cooperative agreement principally addresses the provision of field surveys for ships and floating structures in service and under construction, design approval, technical documentation and certification of materials and products. Signing the new agreement were Dr. Sergey S. Koshchy, Senior Vice-General Director of RS, and Antonio Lino Costa, Vice-President of ABS. “Our two societies have a long history of bilateral cooperation and of working closely together as members of the International Association of Classification Societies (IACS),” said Dr. Koshchy. “This latest agreement builds on that level of trust and should prove mutually beneficial as we face new classification challenges in the future.” Dr. Koshchy stressed that RS and ABS have “a unique opportunity to use their resources and the experience and skills of their staff in a joint effort to further promote safety and security of life within the marine environment.” The new agreement followed extensive discussions between the two societies during which there was a comprehensive exchange of views on a wide range of issues relating to the raising of maritime safety and environmental standards and the further development of the relationship. “We have identified those areas in which each society can benefit from the strengths of the other,” said Lino Costa. “We will be establishing training programs that will facilitate the exchange of information between our engineering and survey staffs to maximize these benefits.” A mutual understanding was reached on signing a specific agreement for dual classification of arctic shuttle tankers. RS and ABS also expressed their readiness to further develop the dual class concept for ships and floating structures in service and under construction to meet the future needs of shipowners and the offshore industry.

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