Annual Review

Leadership

For a

Future

2024

Annual Review

Chairman's Message

2024 saw the emergence of a new formula for success in our industry. It describes how success is now a function of your ability to manage the interaction of technology and innovation along with a focus on people and readiness for change set against the level of risk. These forces are now inextricably twined together and, throughout the coming decade of change, will drive the development of our industry. For shipping, we can see two stories playing out. These stories are shipping for shipping, which speaks to the environmental compliance for our industry, and shipping for the world, highlighting shipping’s pivotal role in tomorrow’s energy mix, specifically as a carrier of future fuels, in particular the emerging blue and hydrogen value chains, and liquid carbon dioxide (CO₂). Amid the resulting landscape of unprecedented, disruptive change, ABS retained its focus on the new boundary conditions of safety, availability and scalability of fuels and infrastructure. We also concentrated on the importance of new and evolving relationships: government to government, government to industry, owners to charterers and ships to ports, which will be key to success in this dynamic new normal. ABS is built to be effective in this intersection of safety, regulations and technology, which will be the heartbeat of all the innovation in the years to come.

LEADERSHIP FOR A SMARTER, CLEANER, SAFER FUTURE

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Governments around the world engage ABS for marine classification and related services for their fleets of military and other public vessels as well as a broader range of analysis and advisory services related to enhancing the safety, security, efficiency and sustainability of their marine transportation systems.

Global Government

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When it comes to supporting the offshore energy sector, ABS has some of the deepest roots outside of the first explorers and producers themselves. Not only was ABS present as technical and safety advisor at the world’s first oil well placed out of sight of land in 1947; but industry leaders have relied on ABS to provide technical safety assistance with every groundbreaking advance in the decades since.

Global Offshore

ABS is as rooted in its safety mission today as it was 163 years ago, providing safety leadership for an industry that has seen a multitude of technological evolutions. As the global maritime industry faced new challenges in 2024, the organization maintained its position as a leader in class and non-class maritime services throughout the year.

Global Marine

Solar Power Plant in modern city in sunset,Sustainable Renewable Energy

abs safety performance

Christopher J. WiernickiChairman and CEO of ABSChairman of ABS’ Affiliated Companies

In a long safety tradition, each year’s successes form the foundation of the next year’s achievements, fueling the voyage that has made ABS a global Health, Safety, Quality and Environmental (HSQE) leader. In 2024, the safety theme was “Safety Awareness for Everyone (SAFE),” which was a call to action for all personnel to prioritize safety in every aspect of their work. It represented a shared responsibility to create a zero-incident workplace. The program emphasized the behaviors that are most likely to impact the occurrence of an incident based on ABS incident data. ABS issued 12 Golden Eagle Health and Safety awards in 2024 to individual employees worldwide dedicated to a proactive health and safety program, and the Chairman’s Safety award was issued to five port offices. This further demonstrates that ABS is a safety-driven organization and is a testament to the safety awareness of its staff, their commitment to safe practices and procedures, and the success of the organization’s overall safety methodology.

ABS built on its industry leadership in the global maritime industry throughout 2024, helping the marine and offshore sectors meet sustainability goals and develop advanced technologies in the drive toward net-zero emissions by 2050.

Sustainability and Technology

The pace of change in the workplace continually pushes ABS to equip its workforce to take on the challenges ahead. In this rapid evolution of technology, ABS remains well-positioned as a technical and safety leader. The core engineering and technology competence of the organization’s people and the wealth of experience they bring to problem-solving is a key differentiator for ABS.

Talent Development

Over the course of 2024, ABS Group provided practical, tailored solutions for a multitude of industries and governments, while also delivering insightful opinions, analyses and forward-looking observations through a series of thought leadership papers, appearances at industry events and speaking on expert panels.

ABS Group

Formed in 2022 to unify ABS digital solutions that collectively are installed on more than 5,000 vessels worldwide, ABS Wavesight revitalized and restructured its processes and systems in 2024 into an industry-leading organization dedicated to helping clients streamline compliance while maintaining competitive, efficient and sustainable operations.

ABS Wavesight

2024 Annual Review Highlights

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offshore Orderbook Share 2024

Marine Orderbook Share 2024

Existing Fleet 2024 abs vs. others

Existing Fleet 2024 (million gt)

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industry leading performance

This is what industry leadership is all about:

building the future even as that future defines itself.

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Overall Casualty Rate

Current Avg. Industry ABS

10 Yr. 23.8 12.1

3 Yr. 24.2 12.5

Hull and Machinery Casualty Rate

Current Avg. Industry ABS

10 Yr. 12.3 5.6

3 Yr. 14.8 7.9

Percentages based on gt

16.8%

Other

ABS

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