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ECONOMICAL CUTTING, BEVELLING, AND END-PREP FOR PIPE FAST, HIGH-TECH, HIGH ROI GEORG FISCHER +GF+ FOR A FREE ON-SITE DEMO OF HIGH TECHNOLOGY WITH A HIGH RETURN, CALL TODAY! Georg Fischer Pipe Tools Division 407 Hadley Street • EO. Box 40 • Holly, MI 48442 Tel: 248-634-8251 • Fax: 248-634-2507 Circle 340 on Reader Service Card THE FASTEST WAY TO GET THE NEWS COMING DIRECT TO YOUR E-MAIL EVERY BUSINESS DAY TO START YOUR FREE 3-WEEK TRIAL, E-mail your request to: rivera@marinelink.com MARITIME REPORTER AND ENGINEERING NEWS ISSN-0025-3448 USPS-016-750 No. 6 Vol. 60 118 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. © 1998 Maritime Activity Reports, Inc. Member INTERNATIONAL® Business Publications Audit of Circulation, Inc. Investment In Design Marine Finance High-Yield Shipping Bonds: Are They A Trap? New & Notable Sulzer Diesel Turns 100 Vessel Focus: Containerships People & Company News Information Technology Propulsion Update Far East Update Gas Turbines Picked For New Cruise Ship Country Focus: SPAIN Bunker Fuel Monitor Buyer's Guide Advertiser's Index Classifieds 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 Barnett, fax: (212) 254-6271. 2 Maritime Reporter/Engineering News