New York March 13, 2007 - Genco Shipping & Trading Limited today announced it has reached an agreement to enter into a time charter for the Genco Vigour, a 1999-built Panamax vessel, with STX Panocean (UK) Co. Ltd. The time charter will be for 23 to 25 months at an average rate of approximately $29,000(1) per day, less a 5% third party brokerage commission. Specifically, the time charter rate will be $33,000 per day for the first 11 months, $25,000 per day for the following 11 months and $29,000 per day thereafter. The time charter will commence following the expiration of the vessel's current time charter.

Robert Gerald Buchanan, President, said, "Our two-year time charter for the Genco Vigour further demonstrates management's expertise in locking away a large portion of our fleet on time charters through a balanced portfolio comprised of both medium-term and longer-term contracts at favorable rates with top-tier charterers. With this agreement, we currently have approximately 75% of our fleet's available days secured on contracts for the year. We remain committed to seeking to provide our shareholders with sizable dividends while maintaining our financial flexibility as we continue to pursue our growth strategy."

For purposes of revenue recognition, the time charter contract will be reflected on a straight-line basis at approximately $29,000 per day for 23 to 25 months in accordance with generally accepted accounting principles in the United States, or U.S. GAAP.

The following table sets forth information about the employment of Genco's fleet:

Vessel Charterer Charter Time Charter

Expiration (1) Rate (2)

Panamax Vessels

• Genco Beauty Cargill April 2007 $29,000
• Genco Knight BHP April 2007 29,000
• Genco Leader AS Klaveness December 2008 25,650(3)
• Genco Trader Baumarine AS October 2007 25,750(3)
• Genco Vigour BHP April 2007 29,000 STX Panocean (UK) Co. Ltd. 23 to 25 months from delivery to new charterer 29,000(4)
• Genco Acheron Global Maritime Investments Ltd. March 2007 28,500 STX Panocean (UK) Co. Ltd. February 2008 30,000(5)
• Genco Surprise Cosco Bulk Carrier Co., Ltd. November 2007 25,000

Handymax Vessels

• Genco Success KLC January 2008 24,000
• Genco Commander A/S Klaveness October 2007 19,750
• Genco Carrier DBCN Corporation March 2007 24,000 Pacific Basin Chartering Ltd. January 2008 24,000(6)
• Genco Prosperity DS Norden April 2007 23,000 A/C Pacific Basin Chartering Ltd. 11 to 13 months from delivery to new charterer 26,000
• Genco Wisdom HMMC November 2007 24,000
• Genco Marine NYK Europe March 2007 18,000(7) February 2008 24,000
• Genco Muse Qatar Navigation QSC September 2007 26,500(8)

Handysize Vessels

• Genco Explorer Lauritzen Bulkers July 2007 13,500
• Genco Pioneer Lauritzen Bulkers August 2007 13,500
• Genco Progress Lauritzen Bulkers August 2007 13,500
• Genco Reliance Lauritzen Bulkers July 2007 13,500
• Genco Sugar Lauritzen Bulkers July 2007 13,500

(1) The charter expiration dates presented represent the earliest dates that our charters may be terminated in the ordinary course. Under the terms of each contract, the charterer is entitled to extend time charters from two to four months in order to complete the vessel's final voyage plus any time the vessel has been off-hire.

(2) Time charter rates presented are the gross daily charterhire rates before the payments of brokerage commissions ranging from 1.25% to 5% to third parties, except as indicated for the Genco Trader and the Genco Leader in note 3 below. In a time charter, the charterer is responsible for voyage expenses such as bunkers, port expenses, agents' fees and canal dues.

(3) The Genco Leader and the Genco Trader were delivered to the charterer for the commencement of the time charter on January 15, 2007 and December 24, 2006, respectively. For each of these vessels, the time charter rate presented is the net daily charterhire rate. There are no payments of brokerage commissions associated with these time charters.

(4) We have reached an agreement to commence a time charter for 23 to 25 months at a rate of $33,000 per day for the first 11 months, $25,000 per day for the following 11 months and $29,000 per day thereafter, less a 5% third-party brokerage commission. For purposes of revenue recognition, the time charter contract is reflected on a straight-line basis at approximately $29,000 per day for 23 to 25 months in accordance with generally accepted accounting principles in the United States, or U.S. GAAP.

(5) We have reached an agreement to commence a time charter for 11 to 13 months at a rate of $30,000 per day, less a 5% third-party brokerage commission. The estimated charter expiration is based on the time charter beginning in March 2007, the earliest possible termination of the previous charterer.

(6) The estimated charter expiration is based on the time charter beginning in March 2007, the earliest possible termination of the previous charterer.

(7) The time charter rate was $26,000 until March 2006 and $18,000 thereafter until March 2007. For purposes of revenue recognition, the time charter contract through March 2007 is reflected on a straight-line basis in accordance with U.S. GAAP. Additionally, we have reached an agreement with the current charterer for an additional 11 to 13 months at a rate of $24,000 per day, less a 5% third-party brokerage commission.

(8) Since this vessel was acquired with an existing time charter at an above-market rate, we allocated the purchase price between the vessel and an intangible asset for the value assigned to the above-market charterhire. This intangible asset is amortized as a reduction to voyage revenues over the remaining term of the charter, resulting in a daily rate of approximately $22,000 recognized as revenues. For cash flow purposes, we will continue to receive $26,500 per day until the charter expires.

London March 13, 2007 - The Dubai International Boat Show is organized by the Dubai World Trade Center and will take place from 13 - 17 March 2007 at the Dubai International Marine Club, Mina Seyahi.

The Dubai International Boat Show is the region's leading marine event because it brings together so many different exhibitors from across the world. MCA Executives will be on hand at the show to discuss construction, manning and safety issues relating to luxury yachts on the MCA stand. Yacht crews who will be in the area and who may be uncertain of correct certification are being encouraged to visit the Stand and discuss their concerns with an MCA Examiner who will be on hand.

Mike Sanderson, Head of Ensign, said before setting out for Dubai:

"We are very keen to continue working in the Middle East region, where many interesting developments are taking place in Large Yacht activity. We will be inviting key players within the industry to a Reception being held during the Show. We are aware that many more charter vessels are moving into Middle Eastern waters from their traditional bases in the Caribbean and the Mediterranean.

"The UK Maritime & Coastguard Agency (MCA) Large Yacht Code was developed from initial work, and was originally only intended for application to Red Ensign yachts over 24m in length. It was developed through the active participation of the large yacht industry but this participation was related to the part of industry with direct relevance to "red ensign" yachts. However, since the MCA Code was introduced it has been adopted as a worldwide standard.

Mike Sanderson continued:

"'Ensign', the MCA's Large Yacht Division, which will be represented at the Show has been established for some years now to provide an exclusive service to the growing world-wide Large Yacht industry, and consists of a dedicated team of surveyors and support staff, widely experienced in the application of the 'Large Commercial Yacht Code'.

"By coming to Dubai, the MCA will be able to offer an improved service to all sectors of the large yacht industry in the Middle East.

"We will also be discussing with owners and builders, international regulations, guidance and a common interpretation which we know greatly assists designers and craftsmen in the industry.

"`Ensign' continues to provide a customer friendly and efficient service, which will be available to owners, builders and designers, regardless of where the vessel is registered. As the MCA, in conjunction with the industry, developed and introduced the Code we are best placed to carry out surveys and the only ones able to agree interpretations of the Code. 'Ensign' will therefore offer a worldwide service to meet the growing demand from the large yacht market.

"Obviously we would recommend that vessels fly the UK Red Ensign, but feel that the safety benefits of complying with the UK Large Yacht Code justify "Ensign" providing a service regardless of flag. Our representatives have attended other major exhibitions and industry shows, such as those held in France, Monaco and in Fort Lauderdale in the US, in order to discuss the services on offer and to discuss the various aspects of the Code."

Visitors to this year's Dubai International Boat Show (DIBS), organized by the Dubai World Trade Center (DWTC), will be able to see some of the world's finest superyachts at the region's leading marine event. By securing so many top-name superyacht builders and suppliers, DIBS continues to strengthen its position as the most important marine event in the region for affluent individuals looking to invest in the booming marine market.

The Middle East has long been associated with the world's most luxurious superyachts with the four longest yachts in the world being owned by people in the region.

"In recent years the Dubai International Boat Show has become synonymous with luxury yachting and the lure of seeing these multi-million dollar superyachts at close range is something that appeals to everyone, whether they are a high-end prospective buyer or a first-time visitor," said Helal Saeed Al Marri, Director General, DWTC, organizer of DIBS.

"The Dubai International Boat Show is also the perfect opportunity for the many superyacht builders and their suppliers to market their wealth of products to a captive audience. This development of the show has also ensured that the eventual sales of superyachts has grown year-on-year," he added.

Some of the world's biggest superyacht manufacturers such as Luerssen from Germany and Amels from the Netherlands will be exhibiting in the Luxury Supplies and Services area which will also house the impressive British Marine Federation pavilion, HISWA Holland Yachting Group and the German Boat Builders Association.

Seafarers - Changes to Race Relations Act 

London March 13, 2007 - Shipping Minister Stephen Ladyman today launched a consultation on proposed changes to the Race Relations Act aimed at ensuring that it complies with EU law relating to the freedom of movement of workers.

Section 9 of the Act contains an exception for seafarers who are recruited abroad. This means that they can be discriminated against on the grounds of nationality in relation to pay. This exception needs to be changed.

Dr Ladyman said:

"Changing the Act is a positive step for European seafarers and those from other states with agreements with the EU.

The purpose of the consultation is to assess the impact that changing the Act would have on seafarers and on the industry. Wage patterns may change and there is a risk that shipowners will flag out of the UK. We must ensure that the potential negative impacts of the changes are minimized."

The consultation will close on 14 September 2007.

Santa Clara CA March 13, 2007 - WhereNet Corp. announced today that the Port of Oakland is taking another proactive step to meeting security requirements of the U.S. Department of Homeland Security (DHS) by helping implement a truck tagging system at one of its most active marine terminals. Drayage trucks serving the port at the Oakland International Container Terminal (OICT) will have the opportunity to be equipped with WhereNet(R) active RFID tags.

"WhereNet's real-time locating system technology provides container ports with another critical layer of security as we continue to protect our nation from terrorist threats," said Mike O'Brien, port facilities security officer for the Port of Oakland. "While enhancing security measures is always a work in progress, we consider beginning to identify and track trucks on our premises with the latest technology as an important step forward."

The Port of Oakland has purchased 1,700 WhereTag(TM) active RFID transmitters and is contracting with WhereNet and eModal to distribute the tags to drayage companies that serve the OICT, which is operated by Stevedoring Services of America Terminals (SSAT). WhereNet has completed installation of RFID readers at OICT and drivers using that terminal are already voluntarily installing the tags on their truck cabs.

When a driver arrives at the terminal and approaches security, a transmission from the WhereTag is picked up by the WhereNet Real-Time Locating System (RTLS) infrastructure of antennas installed at each marine terminal and automatically cross-references with the information available through the eModal trucking database, ensuring that only authorized vehicles are granted entry.

The Port of Oakland's security initiative should be bolstered by the recent DHS decision, announced on January 9, 2007, to award increased grant funding to help secure California ports this year. By allowing Bay Area ports to jointly apply for the highest level of funding for the 2007 Port Security Grant Program, the combined ports of Oakland, San Francisco, Richmond, and Stockton will be eligible for as much as $11.2 million.

At the time the latest security grants were announced, Sen. Dianne Feinstein, D-Calif., said, "America's ports are vital national security assets. They face significant threats. And the ports of the Bay Area are among the busiest. The decision by the Homeland Security Department will ensure that they will have more of the terrorism prevention and emergency preparedness resources needed to secure the ports against these threats."

Port of Oakland executive director Omar Benjamin stated that there are pluses to this technology that go beyond enhancing security. "We anticipate that implementing RFID technology will result in security, logistics and environmental benefits. Reducing the time involved for the truck identification process will help reduce congestion and emissions and save truck drivers time and fuel. That's good for business, our community and the environment."

The De Facto Standard for Port Security and Marine Terminal Efficiency Deployed at all major West Coast ports -- Los Angeles/Long Beach, Oakland, and Seattle -- the WhereNet standards-based, active RFID, RTLS technology provides a multitude of benefits to marine terminal operators, truckers, and the public, by:

• Positively identifying trucks entering a marine facility and providing the marine terminal operator with relevant registration information, including registered drivers and approved trucking companies
• Providing automated data collection of essential information on trucks entering the terminal, allowing existing marine terminal operating systems to perform at peak efficiency with more accurate and timely situational information
• Automating the verification process, thereby reducing errors in critical security checkpoints while expediting the process
• Pinpointing the location of trucks within the terminal using RTLS for facilities monitoring

Truckers to Self-Install Tags and Realize Benefits Beyond Security

WhereNet and eModal are distributing the active RFID WhereTags to drayage companies for self-installation on the cabs of each drayage truck serving the OICT at the Port of Oakland. In addition to providing a U.S. Coast Guard- sanctioned level of security, the WhereNet system at the Port of Oakland will enable truckers to make more frequent trips to and from marine terminals and Intermodal facilities due to more efficient gate operations.

"By automating critical processes at marine terminals and across its extended network of sites, WhereNet is helping to increase throughput, enhance security, and reduce congestion and pollution for the marine shipping industry," said Bill Allen, executive vice president of Total Transportation Services, Inc. This is a trucking company headquartered in Rancho Dominguez, California. "We have experienced the tremendous benefits of the WhereNet technology firsthand at NYK Logistics' cross-dock facilities in Long Beach and Norfolk, Virginia. It has reduced our turn times from 90 to less than 10 minutes, freeing up our drivers to drive rather than wait in line outside the gate."

"We are proud to partner with industry leaders like the Port of Oakland to enhance security at the ports by providing technology that mutually benefits terminal operators, truckers, and citizens alike," said John Rosen, director of marketing for WhereNet's marine cargo division. "Having already tagged more than 15,000 West Coast street trucks to date and with commercial deployments at 16 West Coast marine terminals, we are the market leader of locatable active RFID solutions for the marine cargo industry. Port personnel rely on WhereNet every day to track tens of thousands of containers. Our customers consistently realize a return on investment in less than one year, as our system increases supply chain velocity and efficiency while providing a critical layer of security in high-volume distribution environments."

Hong Kong March 12, 2007 - Savi Networks today announced an agreement on a project to extend the SaviTrak(TM) information service to facilities operated by Modern Terminals Limited, one of the leading container terminal operators in Asia. Deployment of the network at Modern Terminals' facilities in Hong Kong will enhance the security and efficiency of in-transit cargo shipments.

The installation of SaviTrak's standards-based Radio Frequency Identification (RFID) infrastructure at Modern Terminals' facilities will automate visibility of RFID-sealed containers and their contents, providing the terminal operator and its customers with real-time location and status information, automated alerts, and analytics.

"Modern Terminals Limited's important Hong Kong facilities extend the visibility that SaviTrak provides for shippers, carriers and logistics service providers throughout the global supply chain," said Steve Sewell, senior vice president of Savi Networks.

Savi Networks has partnerships with major port and terminal operators to build infrastructure at more than 80 terminals worldwide. The SaviTrak information service is built upon open technologies that process real-time data feeds from RFID devices such as electronic seals (E-Seals) that are based on ISO standards, which are referenced by the SAFE Port Act of 2006. This calls on the U.S. Department of Homeland Security to define the voluntary use of container security devices.

SaviTrak also receives and processes information from other Automatic Identification and Data Collection (AIDC) technologies, such as barcode Electronic Product Code-compliant passive RFID and Global Positioning Systems (GPS) used to track ships and trucks transporting ocean containers. SaviTrak provides customers with real-time status about scheduling and financial impacts on their in-transit inventory.

Alexandria VA March 12, 2007 - U.S. Department of Homeland Security Secretary Michael Chertoff will address the American Association of Port Authorities' (AAPA) annual Washington People's Luncheon event on Tuesday, March 20, at the Willard Inter-Continental Hotel in downtown Washington, D.C. The topic: securing America's seaports.

"We're honored that Sec. Chertoff has accepted our invitation to speak at our annual Spring Conference event," said Kurt Nagle, AAPA's president and CEO. "The Secretary is a strong and committed defender of America and its people, and has proven to be an effective leader of the numerous agencies under his command, including the Transportation Security Administration, U.S. Customs and Border Protection and the U.S. Coast Guard. Considering the huge challenge that U.S. ports have faced, and continue to face, in securing their facilities, people and cargo against terrorism, we look to strong leaders like Sec. Chertoff to help ensure our efforts are successful."

Before being sworn in as DHS's new chief, Sec. Chertoff served as a U.S. circuit judge for the Third Circuit Court of Appeals, and as Assistant Attorney General for the Criminal Division at the Department of Justice. In that post, he helped trace the 9/11 terrorist attacks to the al-Qaida network, and worked to increase information sharing within the FBI and with state and local officials.

The Washington People's Luncheon at which Sec. Chertoff will speak is the capstone event for AAPA's annual Spring Conference. AAPA anticipates more than 300 legislators, governmental staff members and port industry leaders will take part in the annual port industry forum, which runs March 19-20.

Spring Icebreaking on the Saguenay River

Quebec City PQ March 13, 2007 - The Canadian Coast Guard would like to notify local residents and those using the shores of the Saguenay River that spring icebreaking operations will begin at 8:00 a.m. on Tuesday, March 20. Therefore, icefishing cabins located between l’Anse Saint-Jean and Saint-Basile-de-Tableau must be removed before 11:59 p.m. on Monday, March 19. In the areas located between Saint-Basile-de-Tableau, La Baie and Saint-Fulgence, the cabins must be removed before 11:59 p.m. on Wednesday, March 21.

The purpose of this annual operation is to dislodge ice in the Saguenay and at the mouths of tributaries in order to prevent ice jams and flooding that can result from the spring break-up. The CCGS Terry Fox will carry out the work.

Owners of facilities on the ice should move them safely ashore. The Coast Guard strongly recommends that pedestrians, fishers and snowmobilers leave the ice when they see the icebreaker in the immediate vicinity. The ice may move, and this may create a real danger for anyone in the area of the Coast Guard vessel.

The CCGS Terry Fox has a red hull with a transverse white band and a white funnel bearing a maple leaf.

Athens March 13, 2007 - Danaos Corporation today announced that it took delivery of the Norasia Integra (ex ER Auckland), a vessel it had already agreed to acquire. Norasia Integra is a 4,300 TEU containership and will commence its 12-year charter with the Yang Ming Group in May 2007, as it is currently under charter with Norasia. The 12-year charter will run at a daily rate of $27,800 for the first four years and at a daily rate of $26,300 for the remainder period.

Dr. Coustas, Chief Executive Officer of Danaos commented: "The delivery of the 2004 built Norasia Integra is an accretive addition to our fleet representing an investment of $61.75 million. After the delivery of the APL England to APL following the exercise of the call option APL had for this vessel, the addition of the Norasia Integra brings the number of our containerships to 31. With the delivery of two more bulk carriers to their new owners during the previous weeks, the Roberto C and the Maria C, Danaos is now essentially a pure play in the containership industry."

Helsinki March 13, 2007 - The Finnish Maritime Administration said Tuesday that Estonian ferry MS Silja Serenade and Swedish cargo ship MS Baltic Bright that were on a collision course in the Archipelago Sea on Friday had come no closer than 300 meters of each other.

The initial estimate had been 60 to 70 meters. A recorder on MS Silja Serenade revealed the real distance.

Esa Saari of the Maritime Administration said even 300 meters was far too close for comfort in the open sea, adding a distance of two to four kilometers between ships could be considered safe.

The situation developed when MS Baltic Bright lost maneuverability because of a power failure.

Seattle March 13, 2007 - Guarding the coast is a full-time job and even with a number of trained personnel and assets it is quite impossible to have a vigilant eye on all areas of water. In an effort to better aid the Pacific Northwest units, The Thirteenth Coast Guard District created the Citizens Action Network (CAN). CAN was first initiated in the summer of 1999 by Coast Guard Group Seattle and has since been recognized as an extremely valuable program to Coast Guard members. Originally known as Northwest Watch, CAN is formed of 262 active duty, reserve and auxiliary Coast Guard members as well as U.S. and Canadian citizens in the community who proactively volunteer to assist the Coast Guard with its daily missions.

"Coast Guard vessels do not make daily patrols in every waterway," said Cmdr. John Moriarty, Chief of Waterways Management for District Thirteen. "Units rely on the waterway users to provide information on Aids to Navigation (Aid)," said Moriarty. "The citizens provide real-time coverage because they have waterfront views and can keep an eye on the water most of the time."

"CAN members are like neighbors with binoculars," said Petty Officer 1^st Class Josh Goldman, a Boatswain's Mate with Aids to Navigation Team (ANT) Puget Sound. "Units can call CAN members and ask if an Aid is on or off."

With 306 Aids located throughout ANT Puget Sound's area of responsibility, the station stays busy.

"A 10 minute phone call saves us a tremendous amount of trouble," said Goldman. "It saves us the money and time that would go into just checking if a light is working or not."

"For three crewmembers to check an Aid it could cost as much as $620 and that is per aid," said Chief Petty Officer Chris Sage, Officer in Charge with ANT Puget Sound.

Moriarty pointed out that CAN was extremely helpful in that members would contact units to inform them if something appeared wrong or out of place. "All we have to do is call a CAN member on the phone and ask them to look out their window and tell us what they see," said Moriarty. "The people have a better view overall and it may save us a trip."

Recently, the Pacific Northwest suffered a series of severe weather ranging from down pouring rain to 90-mph windstorms in the Puget Sound region. The harsh weather caused many power outages in residential and commercial areas. Some power outages lasted only a few days, while others lasted for weeks. Intense flooding and high-powered winds destroyed anything that came into its path. Large trees collapsed into homes, boats were swept onto the shore and power lines were downed throughout many neighborhoods making the landscape look like a war zone.

"We did not hear about the program until recently," said Sage. "Commander Moriarty sent us an e-mail saying CAN could be used to our benefit in dealing with Aids. We received the e-mail in September before the storms hit, so it was perfect timing and very effective."

"A second pair of eyes is great, windstorm or not," said Goldman.

An entire island in Puget Sound had lost power during the storm, said Petty Officer 1^st Class Eric Hamilton, an Electricians Mate for ANT Puget Sound. All a CAN member has to do is say, "We have power. The aid is on," he said.

"One simple phone call saves the day," said Goldman smiling. "It eliminates risk for our members."

As an innovation, the CAN is the first-and-only maritime organization like it in the country. It has crystallized over 300 U.S. and Canadian waterfront citizens and business owners into an active, well informed and cost effective homeland security component who work directly with federal, state and local maritime agencies in connecting all hazards resources with citizen's assistance and leadership.

The CAN program was awarded the Department of Homeland Security (DHS) Secretaries Award for Excellence in 2006. Secretary Michael Chertoff hosted the Secretary's 2^nd Annual Awards Ceremony in Washington, D.C., on May 10, 2006, and presented awards to DHS employees and teams nominated for their exemplary contributions to the department during the past year. This award recognizes outstanding achievement or innovation by a distinguished employee(s) engaged in work to further the mission of DHS.

The combined efforts of CAN volunteers have tremendously aided the coastal and waterways units in their daily missions. Whether it be calling a volunteer to look out their window to check an Aid to having the member call and report someone in distress, CAN has given the community a chance to be an integral part of the Coast Guard. For more information on the Citizen's Action Network, or how to join, visit <http://www.uscg.mil/d13/can/>.

New York March 13, 2007 - The United Nations refugee agency today called on the Greek authorities to allow the urgent disembarkation and grant access to the asylum system for 16 stowaways, apparently from Turkey. They were found nearly a week ago on a cargo ship docked in the port of Piraeus, near Athens.

"This group should have access to the asylum procedure in Greece and not be turned away as this could result in a direct or indirect refoulement - return to a country where they claim to feel threatened," UNHCR spokesperson Jennifer Pagonis told a news briefing in Geneva. "We are also concerned that there are five minors amongst this group and two people with serious health problems."

The stowaways apparently boarded the Antigua-flagged 'RITA' cargo vessel in Turkey. It arrived in Piraeus on 7 March. UNHCR and the Greek Refugee Council had access to the stowaways on Friday and most expressed their wish to claim asylum. Those claims were delivered yesterday to the relevant Greek authorities but as yet there has been no response.

"They should be disembarked as soon as possible so as not to prolong their ordeal," Ms. Pagonis said. "We hope that a solution can be found shortly that complies with humanitarian and international protection principles and are ready to help the Greek authorities in any appropriate way."

London March 13, 2007 - Lloyd’s Register has today announced the introduction of a new series of ShipRight notations based on anti-corrosion systems. The move comes in response to the International Maritime Organization’s (IMO) recently adopted Performance Standard for Protective Coatings (PSPC) for water ballast tanks and the imminent adoption of other coatings standards for void spaces, cargo oil tanks and through-life maintenance of coatings.

David Howarth, Global Technology Leader, Materials, Welding and NDE at Lloyd’s Register, said: "IMO has raised the need for awareness of corrosion issues through the introduction of a PSPC, and other coatings standards will follow. Lloyd’s Register believes that the introduction of the ShipRight Anti-Corrosion Systems [ACS] notation will help to enhance the quality of the coatings applied and thereby the safety of the vessel, by recognizing the correct design, application and maintenance of coatings and other anti-corrosion systems."

Initially, the new notation will confirm compliance with, and Lloyd’s Register’s verification of, the IMO PSPC and will be in the form of ShipRight ACS ( ). Letters in parentheses will denote different anti-corrosion systems, as follows:

(B) IMO PSPC requirements for water ballast tanks

(D) IMO PSPC requirements for double side skin spaces of bulk carriers.

As IMO develops further PSPCs, the notation will be expanded to include:

(V) IMO PSPC requirements for void spaces

(C) IMO PSPC requirements for cargo oil tanks

(M) Coating maintenance requirements

Other ACS notations will be added as procedures are developed.

The new notation will immediately replace the existing ShipRight PCWBT (Protective Coatings in Water Ballast Tanks) descriptive note for oil tankers and bulk carriers built to the Common Structural Rules. These will be expanded to cover all ships as the IMO PSPC comes into force for all ships contracted on or after July 1, 2008.

The target life for such coatings is now 15 years, which far exceeds that currently agreed by the yards and paint manufacturers. This increase in coatings life necessitates improvements in the quality of surface preparation, coating application and inspection, and Lloyd’s Register’s involvement in the verification process will enhance the quality of these processes.

It also places new responsibilities on paint manufacturers to make certain their processes meet the minimum standard to ensure that their coatings are consistent and meet the testing requirements of the performance standard. Lloyd’s Register will issue type approval certificates to indicate this.

For the first time, a major emphasis will be placed on coatings inspectors and their qualifications. Lloyd’s Register will also be involved in this process, not only confirming the accepted coatings inspector qualifications of industry professional bodies NACE and FROSIO, but also reviewing qualifications considered equivalent.