ABS Reports Strong Performance in 2001

Tuesday, April 23, 2002
ABS Chairman and CEO Frank J. Iarossi has reported continued strong performance by the classification society and its affiliate, the ABS Group of Companies Inc. in 2001. Iarossi reported that the ABS-classed fleet had reached a new tonnage record of 360 ft. (109.8m) gt in October 2001. He also noted that a significant contribution came from the expanding risk management and associated activities of the principal operating subsidiary, ABS Consulting.

Consolidated gross revenues for ABS and the ABS Group of Companies increased 3.6 percent over 2000 to a new record $370.9 million, reflecting the continuing steady growth of the organization's non-classification activity. Just over 60 percent of the revenue came from marine classification activity with the remainder contributed from non-marine business. The contribution from the affiliated companies is projected to strengthen in 2002 following the elimination of various non-recurring expenses associated with the previous acquisition of EQE International Inc., now part of ABS Consulting.

Consolidated operating income after tax surged almost 100 percent over the previous year to reach $19- million.

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

Legislation Signed for Ports Upgrades

Today, Governor Brown signed AB 2395 Legislation. The bill was co-authored by Bonnie Lowenthal chair of the Assembly Transportation Committee and the Select Committee

Pariah Containership Banned from Australian Ports

The Australian Maritime Safety Authority (AMSA) informs that it has issued a direction to the container ship 'Vega Auriga' (IMO 9347786) that prohibits the ship

Finance

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

EU to Help Italy Cope with Boat Migrants

The European Commission said on Wednesday it would launch an EU version of Italy's sea rescue operation to help it deal with the droves of migrants crossing the

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1062 sec (9 req/sec)