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October 21, 2005

Lloyd's Register gets ACP authorization for MODU's

Lloyd's Register has been authorized by the U.S. Coast Guard (USCG) to extend its Alternate Compliance Program (ACP) services to include mobile offshore drilling units (MODU) --in addition to cargo vessels, tank vessels, offshore supply vessels, and passenger vessels. The new authorization was issued October 4, 2005.

ACP is a voluntary program available through authorized classification societies for owners, operators, designers, and builders of U.S.-flag vessels to comply with USCG design and inspection regulations, The program is intended to reduce the regulatory burden on the maritime industry while maintaining existing levels of safety.

To obtain the additional authorization for MODUs, Lloyd's Register underwent a rigorous review process, which involved a comprehensive comparison of classification rules, statutory requirements, and federal regulations applicable to this vessel type.

Paul Huber, President of Lloyd's Register Americas, Inc., said of the latest authorization: "ACP, the highest level of authorization granted by the USCG, involves a demanding review and approval process. There are now only two classification societies with MODU authorization under ACP, and this authorization complements our growth strategy in the U.S. oil and gas sector. Lloyds Register is delighted to offer expedited plan review and inspection services for MODUs on behalf of the USCG."

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