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editorial www.seadiscovery.com NEW YORK 118 E. 25th St., New York, NY 10010 Tel: (212) 477-6700; Fax: (212) 254-6271 FLORIDA 215 NW 3rd St., Boynton Beach, FL 33435 Tel: (561) 732-4368; Fax: (561) 732-6984 PUBLISHER John C. O'Malley jomalley@marinelink.com Associate Publisher & Editor Gregory R. Trauthwein trauthwein@marinelink.com Contributing Editors Capt. Edward Lundquist, USN (Ret.) • Steve Withrow Production Manager Irina Tabakina tabakina@marinelink.com Sales Administration Manager Tina Veselov veselov@marinelink.com Marketing Administration Kami Accursio accursio@marinelink.com Sales & Event Coordinator Michelle Howard mhoward@marinelink.com Manager, Accounting Services Esther Rothenberger rothenberger@marinelink.com Manager, Public Relations Mark O’Malley momalley@marinelink.com Manager, Information Technology Services Vladimir Bibik bibik@marinelink.com CIRCULATION Kathleen Hickey mtrcirc@marinelink.com ADVERTISING Vice President, Sales and Marketing Rob Howard howard@marinelink.com Tel: (561) 732-4368 Fax: (561) 732-6984 Advertising Sales Manager Lucia M. Annunziata annunziata@marinelink.com Tel: (212) 477-6700 Fax: (212) 254-6271 Japan Katsuhiro Ishii amskatsu@dream.com Tel: +81 3 5691 3335 Fax: + 81 3 5691 3336 6 MTR April 2009 H aving just returned from Southampton and the second edition of Ocean Business, I think it more than fair to say that the subsea business is navi- gating the current global economic storm far bet- ter than most. This is not to say that the path is clear. There are certainly interesting times ahead, and many I’ve spoken with in recent months tell of gathering “storm clouds on the horizon,” which include the possibility of a prolonged global credit crunch and a marked slowdown in new ROV orders. Companies today seem cautiously optimistic, planning for the worst but realistically expecting stability in many sectors. One sector that holds the attention of nearly everyone serving this market is the Offshore Oil & Gas market, of course, and while the business was brisk and spirits high in Southampton, I believe a more telling sign will be the turnout and collective ‘mood’ at the Offshore Technology Conference (OTC) next month in Houston. OTC, and Houston itself, have always stood as a bellwether for the offshore O&G market, and while it is certain that enthusiasm will not be as high as last year’s exhibition — a time when oil prices were ramp- ing toward the mid-summer near $150 per barrel peak — I think it will still hold a world of opportunity for companies serving the subsea sector. This month MTR had the privilege to gain insights into the history, development and future of subsea technology in the offshore O&G sector courtesy of an interview with Tore Halvorsen, Senior Vice President, Global Subsea Production Systems, FMC, a report which starts on page 36. His vision of complete production moving to the seabed, particularly in the dynamic and still unpredictable Arctic region, means that in the long-run business will be plentiful for the companies that design, develop and deliver products and systems that make subsea operations more efficient, cost-effec- tive and reliable. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical, photocopying, recording or otherwise without the prior written permission of the pub- lishers. Marine Technology Reporter is published monthly except for February, August, and December by New Wave Media, 118 E. 25th St., New York, NY 10010-2915. Periodicals Postage at New York, NY and additional mailing offices. POSTMASTER: Send address changes to MARINE TECHNOLOGY REPORTER, 118 E. 25th St., New York, NY 10010-2915. Postmaster send notification (Form 3579) regarding undeliverable magazines to Marine Technology Reporter, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of editorial material. ©2009 New Wave Media. 118 East 25th Street, New York, NY 10010 tel: (212) 477-6700; fax: (212) 254-6271 Vol. 52 No. 3 ISSN 1559-7415 USPS# 023-276 www.seadiscovery.com Member Business Publications Audit of Circulation, Inc. Gregory R. Trauthwein • trauthwein@marinelink.com tel: 212-477-6700 Subscription: To subscribe please visit www.seadiscovery.com/subscribe MTR#3 (1-17).qxd 4/6/2009 9:12 AM Page 8
