| The focus of our Group on Health and Safety is a driving force of our success. We strive to provide a place of employment for our staff and a service to our customers that is the safest possible in our challenging operating environment. We maintain effective incident prevention programs and systems and comply with applicable national and international rules and regulations. We view operating safely, incident prevention and environmental protection as core operational responsibilities, and so all employees are responsible for the prevention of job-related injuries and illnesses, property damage and environmental incidents through the use of good judgment and the consistent application of company guidelines and procedures. We review and upgrade our processes, systems and tools every year and have created an environment where individuals feel responsible and empowered with regards to safety and the environment. Stanford Marine is very satisfied that its 2011 efforts in HSE matters which include upgraded management systems, increases in safety trainings & meetings and multiplication of emergency drills have resulted in another consecutive year without Lost Time Incident (LTI) and in a very low Total Recordable Incident Rate (TRIR) of only 0.11 per 100,000 man-hours. This great achievement in Health and Safety management has also been recognized by Bureau Veritas which completed in August 2011 the inspection of Stanford Marine’s HSE and Quality management systems, focusing on the processes and systems that the company has put in place, and awarded the company the ISO and OHSAS standards with no “non-conformities”. Stanford has of course also the International Safety Management (ISM) Code certification – not only for vessels over 500 GRT as the International Maritime Organisation (IMO) requires, but for all its vessels. Grandweld has reason to be proud, having again successfully passed OHSAS audits in 2011, and boasting a TRIR which this year again is only a third of the TRIR of the industry benchmark, the Shipbuilders Council of America representing 50 companies that own and operate over 120 shipyards in the US. Our focus remains on providing a quality service to our clients, whereby we get the job done, but also get the job done safely, ensuring the health and safety of our employees. We believe properly trained employees armed with both the knowledge and authority to control their environment is in the best position to protect themselves, our vessels and our customers. So safety and environmental protection are tied directly to our most important business assets—our people, our capacity to control costs, and our ability to deliver the highest quality service. |