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    ASCO announces new contract with Seabrokers

    News // November 22, 2002
    ASCO plc has announced that it has entered into a new contract with Seabrokers AS to be its preferred provider of shipbroking and marine technical services on a worldwide basis. The contract has an initial duration of five years.

    Over the past nine years, Seabrokers has supported ASCO in the provision ofintegrated marine logistics to the oil and gas industry.

    ASCO says it will continue to embrace innovation and Seabrokers have a key role to play in this regard and are currently working with ASCO on a number ofinnovative concepts including:

    (1) introducing different vessel propulsion mechanisms that are more environmentally friendly as well as lower cost and,

    (2) introducing safe cargo handling systems for both on and offshore usewith a view to reducing the risk of injury to staff involved in cargohandling operations.

    Colin Manderson, Chief Executive of ASCO said: "This new contract is alogical extension of the relationship that has served both parties well inthe North Sea since 1993. We are looking forward to continuing thissuccessful relationship to the benefit of ASCO, Seabrokers and all of ourcustomers and associates."

    Ragnvald Albretsen, Managing Director of Seabrokers commented: "We aredelighted with the award of this new contract. We have had a good workingrelationship with ASCO, in Europe for a number of years and now look forwardto developing this further. The opportunity to work in other internationalmarkets where ASCO has a presence is very exciting for us and we areconfident that we will add value for both ASCO and its clients."

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