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o o (vo In a class by itself! Subscriptions: One full year (12 issues) SI 8.00 in U.S.; outside of U.S. S96.00 including postage and handling. For subscription information, contact: Dale Barnett, fax: (212) 254-6271. GISLAVED FOLIE AB Box 518 S-33228 Gislaved Sweden Phone +46-37180660 Fax +46-37114366 Circle 220 on Reader Service Card AND ENGINEERING NEWS ISSN-0025-3448 USPS-016-750 No. 2 Vol. 59 118 East 25th Street New York, NY 10010 (212) 477-6700 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical, photocopying, recording or oth- erwise without the prior written permission of the publishers. Founder: John J. O'Malley 1905 - 1980 Maritime Reporter/Engineering News is published monthly by Maritime Activity Reports, Inc. Mailed at Periodicals Postage Rates at Waterbury, CT 06701 and additional mailing offices. Postmaster send notification (Form 3579) regarding undeliverable magazines to Maritime Reporter/Engineering News, 118 East 25th Street, New York, NY 10010. Canada Post International Publications Mail Product (Canadian Distribution) Sales Agreement No. 0970700. Printed in U.S.A. Publishers are not responsible for the safekeeping or return of editorial material. © 1996 Maritime Activity Reports, Inc. Member Business Publications Audit of Circulation, Inc. Exclusive ship interiors harmonizing colour and design with functionality and safety. Gislaved Decor M-1320 is a fire classified foil material extensively used in many ships and contributing to the elegance of first class interiors every- where. Gislaved Decor M-1320 is available in a wide selec- tion of colours, embosses and prints. Decor M-1320 provides interior designers with a richly varied mate- rial with which to create ex elusive environments aboard ship. he Cover International navy business, sagging for many years, will inevitably peak again according to industry insiders. Catch up on some of the latest contracts, as well as the newest designs, products and devel- opments from top navy builders and suppliers, starting on page 63. (Cover photo courtesy of HDW) Cruise Industry Annua 28 STARTING STRONG Korea's Hyundai Heavy Industries has started the year with a significant order from Norway's Bergessen. Review this and other news from the area in this month's Far East Update. — by Alan Thorpe, international editor ALSO IN THIS EDITION 57 Ship 9t Boatbuilding Technology — New Cat provides low weight-to- power ratio; aluminum alloy offers operational advantages. 63 Navy Business Review —p New contracts stir hopes for U.S. builders and sup- pliers. 72 Offshore Technology Review 78 People & Company News Spotlight on Celebrity Cruises by Associate Editor Bridget Murphy ----- - - -- .-- Outstanding Cruise Ships of 199 Sector News QEII Embarks On World Tour Fincantieri-built Veendam is shown entering Venice. 49 REVIEW Steeped in maritime culture, Norwegian innovation continues to fuel the success of the country's marine builders and suppliers in the international marketplace. ISM Code — the legal, commercial and econo- mic ramifications. Plus: Samsung to build Chevron VLCCs, Trico to pay $36 million for eight vessels. 2 Maritime Reporter & Engineering News