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For International Safety At Sea... GMDSS EPIRB FromALDEN The SATFIND-406tm 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. SJUJFIND 4o6mRB NAVTEX AE-900 GMDSS NAVTEX FromALDEN 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 _ . Phone ( -Zip. ) Mail or Fax to: Allien Electronics, Inc. • Dept. 62 • 40 Washington Street • Westborough, MA 01581-0500 USA I I Circle 204 on Reader Service Card ON THE COVER The Cruise Ship market accounted for some landmark deals to start the year. Read what industry insiders have to say regarding the potential of this market segment; Holland America's SS Rotterdam: Paxman's VP 185, story starts on page 60. INSIDE: Directory of Cruise Ship Suppliers 17 Propulsion Update: Slow- Speed Diesel Engines 19 Diesel Engine Buyers Guide 20 Fuel, Lubricant & Additives Review 31 Propulsion Equipment 36 Naval Shipbuilding Editorial: The Future of American Shipbuilding 54 Cruise Ship Market Outlook 60 Calendar 68 Fednav Taps Daewoo To Build Two Ships Fednav Group, a Canadian Shipping Company, signed a contract with Daewoo Corp. and Daewoo Shipbuilding & Heavy Machinery Ltd. of South Korea for the building of two highly specialized ice-class bulk carri- ers. The vessels are scheduled for delivery in early 1995. MARITIME REPORTER and Engineering News Editorial and Executive Offices 118 East 25th Street, New York, NY 10010 (212) 477-6700 • ITT Telex: 424768 MARINTI Telefax: (212) 254-6271 Publishers: Editorial Director: Managing Editor: Assistant Editor: Editorial Consultant: Contributing Editors: Production Manager: Asst. Production Manager: Circulation Manager: Regional Sales Manager: Regional Sales Manager: Regional Sales Manager: CHARLES P. O'MALLEY JOHN E. O'MALLEY JOHN C. O'MALLEY CHARLES P. O'MALLEY GREG TRAUTHWEIN ERIN M. O'DRISCOLL JAMES R. McCAUL MARCUS GIBSON GRAEME MACLENNAN SUSAN EISENSTEIN STACEY DORMAN DALE L. BARNETT DANIEL A. ARNOLD LUCIA ANNUNZIATA JOANNE GAMBERT Advertising Circulation and Sales Offices 118 East 25th Street, New York, NY 10010 Telephone (212)477-6700 u. s. Gulf States Scandinavia United Kingdom Italy Germany Switzerland Korea REPRESENTATIVES MR. JAMES N. McCLINTOCK Simpson Corporate Park Indigo House, Suite A 206 South Tyler Street Covington, La 70433 Telephone: (504) 893-5099 Telefax: (504) 893-5024 MR. STEPHAN R. G. ORN AB Stephan R.G. Orn Box 184, S-27100 Ystad, Sweden Telephone: 46 411-18400 Telefax: 46 411 10531 MR.MICHAEL J. DAMSELL Euromedia Ltd. P.O. Box 122 Hayward's Heath West Sussex RH16 1YF, ENGLAND Telephone:0444 417360 Telefax:0444 417360 MR. VITTORIO F. NEGRONE Ediconsult Internazionale Piazza Fontane Marose, 3-16123 Genova, Italy Telephone: (010) 583684 Telefax: (010) 566578 Telex: 281197 EDINTI MR.THEO ANTHONY AM Lerchenberg 22 D-21266 Jestenburg bei Hamburg Germany Telephone: 49 (4183) 5541 Fax: 49 (4183) 5543 MR.C.H. PARK Far East Marketing Inc. Rm. 508, Chungmu Building 10, 2-ka, Pil-dong, Chung ku. Seoul, Korea Telephone: (02) 265 - 5043 Fax: (02) 277 - 5148 MARITIME REPORTER AND ENGINEERING NEWS No. 7 ISSN-0025-3448 Volume 55 118 EAST 25th STREET NEW YORK, N.Y. 10010 (212) 477-6700 ESTABLISHED 1939 Maritime Reporter/Engineering News is published monthly by Maritime Activity Reports, Inc. Mailed at Second Class Postage Rates at Waterbury, CT 06701 and additional mail- ing offices. Postmaster send notification (Form 3579) regarding undeliverable magazines to Maritime Reporter/Engineering News, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of edi- torial material. Member INTERNATIONAL Business Publications Audit of Circulation, Inc. 4 Maritime Reporter/Engineering News