Marine Link
Friday, March 29, 2024
SUBSCRIBE

Eqe International News

23 Apr 2002

ABS Reports Strong Performance in 2001

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.

17 Jan 2001

ABS: Castor pollution fears may have been exaggerated

Comprehensive oil spill and blast assessment analyses indicate that there is little likelihood of significant pollution or environmental hazards associated with the on-going salvage of the damaged product tanker Castor. The vessel remains about 40 miles off the Spanish port of Cartegena awaiting more favorable weather conditions to attempt a ship to ship transfer of its cargo of 29,500 tons of gasoline. No nearby coastal state has been prepared to offer the vessel's owner and salvors a protected area any closer to shore for the transhipment because of fears that either spilt oil or an explosion could cause unacceptable damage to the environment, shore facilities and citizens.

08 May 2001

ABS Enjoys Steady Growth

ABS Chairman and CEO Frank J. Iarossi reported a solid financial performance for 2000 with consolidated gross revenues of $357.9 million, an 18.2 percent increase - or more than $55 million - over the previous year. This was achieved even though the class society continued its moratorium on fee increases throughout 2000, setting the pace as the lowest cost, major provider of classification services. "While I wish it would be otherwise, I believe marine classification will continue to be plagued by intense competition as shipbuilders play one society against the other to design and build the cheapest ship, and as shipowners continue to push for the lowest newbuilding, repair and survey expenses," Iarossi said.