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EXCLUSIVE AGENT FOR: MARITIME REPORTER AND ENGINEERING NEWS IN THE COUNTRY OF SPAIN VAREX VARENGA EXCLUSIVAS INTERNACIONALES, S.L. Modesto Lafuente, 4 28010 Madrid Spain Telephone: +34-1-448 76 22 Fax: +34-1-446 01 98 For information about advertising in Maritime Reporter from Spain please contact Jesus Mor6n Pictured on the cover: Pictured on this month's cover is Queen Supplier, recently completed by Bollinger Quick Repair. The workboot and offshore markets are booming with a resurgence of oil business. Coverage starts on page 24. QZaXTTQD CUBS 34 UP, UP & AWAY As the oil exploration and recovery business continues its march upward, so too do the fortunes of vessel own- ers/operators, builders, repairers and equipment sup- pliers. 43 GOING NOWHERE FAST Fast ferry builders and suppliers are to the maritime industry what Intel is to the computer industry ... unfor- tunately, without the same business-driving results. Despite a plethora of technological innovations and advances, a genuine worldwide fast ferry boom has yet to materialize. Technical Editor David Tinsley exam- ines the current situation, and offers some insights as to what will get the niche's motor running. SO FORGING A NEW PATH Preparing for a unified Europe and fending off low-cost competitors, Spain's maritime industry has accelerated its gravitation towards specialized or otherwise more capital intensive ships. Tinsley, technical editor BOATS WANTED (any condition, will pick up) by David 8 60 66 70 84 87 95 114 120 124 126 130 EC^rTDCs^raS Marine Finance legal Update ISM will be implemented, regardless of industry objections. Technology Report: Scientist unveil new map of the ocean's bottom. Far East Update Order surge gives S. Korean yards a leg up over their Japanese counterparts. Balk Carrier Safety Lessons learned developing containership technology is helping out in another niche. Market Report Short sea market set for phenomenal growth. People & Company News Australian Maritime Review Products Showcase Calendar of Events Buyer's Guide Classified Advertising Subscriptions: One full year (12 issues) $18.00 in U.S.; outside of U.S. $96.00 including postage and handling. For subscription information, contact: Dale Bamett, fax: (212) 254-6271. 118 East 25th Street New York, NY 10010 (212) 477-6700 AND ENGINEERING NEWS ISSN-0025-3448 USPS-016-750 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. No. 10 Vol. 59 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 INTERNATIONAL® Business Publications Audit of Circulation, Inc. 2 Maritime Reporter/Engineering News
