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For International Safety At Sea... GMDSS EPIRB From ALDEN The SATFIND-406tu EPIRB activates automatically or manually and provides global coverage which can lead to timely rescue. Designed for maximum reliability, it features an enclosed antenna, 5 year battery, unique release mech- anism and high strobe position- ing for maximum visibility. Can be mounted vertically, hori- zontally or slanted. Approved by COSPAS- SARSAT, the US Coast Guard, Canada and many other countries. SfflIND 406™ NAVTEX AE-900 GMDSS NAVTEX From ALDEN The Alden NAVTEX Receiver AE-900 automatically receives important text bulle- tins worldwide includ- ing navigational and weather warnings, forecasts, LORAN and GPS messages and more. Selected bulletins are printed without repetition and SAR messages are received with both audible and visual alarms. It complies with GMDSS, IMO, CCIR and CEPT standards. ALDEN RELIABILITY. Mariners have trusted Alden's marine electronics for years. The SATFIND-406 EPIRB and NAVTEX Receiver AE-900 continue the reputation for value, durability and relia- bility that has made Alden's award-winning Marinefax and Faxmate weather chart recorders industry stan- dards. For more information, call (508) 366-8851. ALDENELECTRONICS Dept. 62 • 40 Washington Street • Westborough, MA 01581-0500 USA Phone: (508) 366-8851 • FAX (508) 898-2427 Please send me information on: • SATFIND-406 EPIRB • NAVTEX Receiver AE-900 Name Company. Address City Country # Ships in fleet. . State. -Zip. . Phone ( ) Mail or fax to: Alden Electronics, Inc. • Dept. 62 • 40 Washington Street • Westborough, MA 01581-0500 USA I -I Circle 258 on Reader Service Card ON THE COVER Pictured is the 16th Aegis guided missile cruiser built for the U.S. Navy by Ingalls Shipbuilding. To help U.S. shipbuilding weather Defense spending cutbacks and make the transition to commer- cial activity, the government is investing $2.2 billion. See page 17 for details. INSIDE: Government To Spend $2.2 Billion To Convert Defense Industry To Commercial 17 Megayacht Builders Order Books Brimming In '93 21 Update: Marine Coatings & Corrosion Control 30 Seatrade Cruise Shipping '93 52 Canadian Shipping Exhibition & Conference 56 Preview: Gastech '93 62 Southern Marine Industry 64 Carnival Cruise Lines Gives Fincantieri Contract To Build World's Largest Cruise Ship Carnival Cruise Lines Inc. (CCL) of Miami, Fla., has signed a contract with the Italian shipyard Fincantieri Cantieri Navali Italiani SPA for the construction of the largest passenger cruise ship ever built. Carnival said, in a press re- lease, the proposed vessel, at about 95,000 gross registered tons, will feature more than 1,300 cabins. Citibank N.A. served as financial advisor to both parties. Delivery is scheduled for late 1996. 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