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Frank J Iarossi News

04 Mar 2013

Somerville Announces Retirement from ABS

Robert D. Somerville, long serving Chairman of leading classification society ABS, has announced his retirement effective April 30, 2013. Under a carefully planned, two year long, leadership transition strategy, current President and Chief Executive Officer Christopher J. Wiernicki has been selected to assume the Chairmanship of ABS subject to final election by the Board of Directors at their next meeting on April 22, 2013. “It is imperative that an organization of the size and complexity of ABS has a well-defined succession plan in place for all its senior executives and particularly so for the roles of Chairman, Chief Executive Officer, President and Chief Operating Officer,” said Somerville in announcing his decision to step down after 43 years of service with the society.

27 Apr 2004

Somerville Takes Over at ABS

Robert D. Somerville, has been elected Chairman of ABS. He replaces Frank J. Iarossi who has stepped down after 14 years at the head of the world’s third largest classification society. The previously announced and carefully planned transition took effect with the approval of Somerville in the post by the ABS Council following the Annual Meeting of the society in New York today. The Council is a 60 person body, representative of the maritime industry, drawn from the more than 800 worldwide members of ABS. The Council also confirmed Somerville’s re-election as Chief Executive Officer of the classification society. Somerville, a 34 year veteran of ABS had served as President of the society since 1993.

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.

14 Jul 2000

ABS Introduces SafeShip

Scrutiny surrounding the carriage of cargo at sea, particularly on the quality of tonnage enlisted to transport potentially hazardous materials, is higher than ever. In the wake of high-profile disasters such as Erika, which left not only beaches and water but the reputation of many in the shipping industry soiled, leading companies usually step up. This is the case with the American Bureau of Shipping, one of the handful of highly regarded classification societies in the world. At the recent Posidonia exhibition, ABS introduced SafeShip, a program designed to apply advanced technology to reduce risk in the design, construction and maintenance of a new and safer generation of cost-efficient vessels.

11 Jan 2001

ABS Refutes Castor Condition Allegations

ABS has completed an extensive review of the complete survey history of the troubled tanker Castor and categorically refutes allegations made by Spanish authorities that the vessel is "substandard." "This vessel is a damaged ship, not a substandard ship," said Robert D. Somerville, President of ABS. "It is unfortunate that many of the good intentions that have flowed from the Erika disaster have led to this sort of political, rather than subjective assessment of a maritime casualty," he stressed. "Age is not the determinant of the condition of a ship. It is the manner in which that ship has been managed and maintained that defines its condition. Since 1997 there has been more than 600 tons of new steel placed into the vessel to maintain full conformance with ABS Rule requirements.

05 Feb 2001

ABS Withdraws From RINA Negotiations

Citing irreconcilable differences in the structuring of a proposed alliance between ABS and RINA, ABS has withdrawn from further negotiations with RINA. "It is our understanding that RINA and Bureau Veritas will sign a letter of intent to merge certain of their operations," said ABS Chairman and CEO Frank J. Iarossi. ABS and RINA had spent more than a year exploring possible ways of structuring an alliance that would have strengthened the services offered to RINA's core constituency of Italian shipowners. "Throughout, we always had the interests of the shipowners at the forefront of our discussions," added Iarossi. ABS has maintained an office and operations in Italy for almost 80 years, with current headquarters in Genoa.

11 Apr 2001

Hyper-Accelerated Corrosion Found In Doomed Tanker

Investigators hoping to find the cause of why an assumed healthy ship developed a near fatal deckplate crack - an incident which led to a 39-day saga which will serve as an impetus for change in the rules of the way ships in distress are handled - have issued a preliminary report. Following an exhaustive inspection and analysis of the damaged product tanker Castor, the Cyprus Department of Merchant Shipping and ABS have jointly announced preliminary findings that point to hyper-accelerated corrosion as the probable principal cause behind the structural failure. "The Castor has become a floating laboratory which is providing us with some surprising findings," said ABS Chairman and CEO Frank J. Iarossi.

17 Jan 2003

ABS Chairman Attacks Inaccurate Portrayal of Maritime Safety Record

Frank J. regulation is required to address this. Singapore. Iarossi lamented the strongly negative image of the industry within the public arena. very infrequent, and sometimes very tragic casualty," he said. commercial aircraft. risk is three times that for merchant ships," he said. heard any uproar over airline safety? aircraft rate. Actual loss rates for vessels of all types of 100 gross tons or more have been halved in the past ten years to about two vessels per thousand per year. stressed. fleet. spilled from ships has declined by over 70 percent. industry notables. "Marine transportation is definitely not risk free. unsinkable ship. continuously striving to improve its performance. clear," he stated. on the industry's own trade press.

03 May 2001

Castor's Downfall: Hyper-Accelerated Corrosion

Few marine incidents have vexed the collective international marine community as much as the recent situation with the damaged product tanker Castor, a ship, which experienced a near fatal deckplate crack in mid-voyage and then was denied safe harbor for fear of the ship splitting open and spewing its gasoline cargo. Though the ship was eventually docked safely without environmental incident, the name Castor will serve as a lightning rod in the IMO to more firmly establish rules and procedures for ships in distress at sea. As the political wrangling and finger pointing start to subside, attention is now turned on the ship itself, and more accurately finding out the reason that an assumed healthy ship developed a near fatal deckplate crack.

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.

12 Sep 2001

ABS Reports All Employees Evacuated Safely From World Trade Center Office

ABS confirms that all employees of its New York Executive Office, located on the 91st floor of One World Trade Center, evacuated safely from the building. The office normally staffs 22 people. At the time of tragedy 16 employees were either in the office or in transit to the office. All 16 employees are accounted for. Physical injuries were limited to minor cuts and abrasions. "It is miraculous given the point of impact of the aircraft was immediately above the ABS offices," said ABS Chairman and CEO Frank J. Iarossi. Day to day operations of ABS are unaffected by the loss of the New York office which will temporarily relocate to New Jersey and is expected to reopen on September 17 .

13 Sep 2001

ABS: All Employees Evacuated Safely From WTC Office

ABS confirms that all employees of its New York Executive Office, located on the 91st floor of One World Trade Center, evacuated safely from the building. The office normally staffs 22 people. At the time of tragedy 16 employees were either in the office or in transit to the office. All 16 employees are accounted for. Physical injuries were limited to minor cuts and abrasions. "It is miraculous given the point of impact of the aircraft was immediately above the ABS offices," said ABS Chairman and CEO Frank J. Iarossi. Day to day operations of ABS are unaffected by the loss of the New York office which will temporarily relocate to New Jersey and is expected to reopen on Monday, 17 September .

21 May 2003

Somerville Elected CEO of ABS

Robert D. Somerville, currently President and Chief Operating Officer of ABS has been elected to the position of Chief Executive Officer by the ABS Board of Directors. These duties will be in addition to Mr. Somerville’s current responsibilities. The transfer of CEO responsibilities from ABS Chairman Frank J. Iarossi marks the first phase in a carefully planned leadership transition strategy. Mr Iarossi will continue as Chairman of the classification society until 1 May 2004 and remains Chairman and CEO of the ABS Group of Companies, an affiliate of ABS. The Board of Directors has also elected Robert E. Kramek, currently Senior Vice President and President, ABS Americas division to the position of Executive Vice President.

14 Nov 2002

ABS Council Supports Maritime Security Initiative

Strong support for a proposed comprehensive series of maritime security initiatives was expressed by the ABS Council at its semi-annual meeting in New York on November 12, following detailed presentations on the subject by ABS executives. The 60-strong Council is drawn from the more than 800 members of the classification society to provide guidance to the Chairman and management of the society. It includes prominent members of the shipowning, insurance and regulatory sectors. "New demands will be placed on classification societies when the proposed IMO International Ship and Port Facility Security Code (ISPS Code) comes into effect," said ABS Chairman and CEO Frank J. Iarossi after the meeting.

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