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International Representatives EDITOR'S NOTE T he June Yearbook edition once again provides insights into events during the past year, while attempting to shed some light on trends and events currently unfolding. The high volume of information included in this one edition mandates that it be compiled seemingly with blinders on, with the markets trends crystallizing upon final layout. Upon giving the Market Reports section (starting page 22) a final read, it quickly became apparent to me that any industry neophytes giving Maritime Reporter a first look this month might consider changing indus- tries ... fast. One of the world's worst kept secrets is that the maritime market endures a variety of volatile cycles, varying in severity and degree. The degree to which companies — shipowners, ship- builders and equipment suppliers — successfully navigate the peaks and valleys largely depends on experience, quality of management, quality of products/services and preparedness. It is also no secret that the year past was tough for the maritime industry. Since late 1997, when the Asian financial crisis threw a twist into many world markets and conspired to dampen oil demand and drive pricing to 20 year lows, shipping, shipbuilding and offshore markets have collectively endured one of the harshest stretches in recent memory. But the cyclical nature of the business means that what goes down must come up, and in the meantime, attractive buying opportunities abound. A true beauty of the maritime industry is the mere fact that it is irreplaceable. No matter how fast computers get or how efficient information flow becomes, the need will always exist to transport large quantities of products from point A to point B, and, quite frankly, there is no more safe or cost-effi- cient means to do so than on the world's waterways. The industry is undoubtedly undergoing massive restructuring, as companies in shipbuilding, shipowning and equipment supply today are fewer, but larger. Competing in the world market requires a company with deep pockets, vast resources and broad based expertise. Competing in today's fast-changing environment also requires a constant evaluation of practices and technology. Technology has, and will, continue to have profound impacts on the way in which maritime business is conducted, both shoreside and onboard vessels. While the industry is often por- trayed as conservative and slow to incorporate change, the level at which vessel owners are incorpo- rating the latest in navigation and communication electronics, for example, is astounding. Some of the year's more notable marine innovations are highlighted in a special "10 Significant Marine Innovations" section, starting on page 54. The Maritime Group — publishers of Maritime Reporter & Engineering News, Marine News, Maritime Week, and www.marinelink.com — are committed to advancing industry issues through the publication of concise, timely and interesting material. As always, I welcome comments on ways in Coming In JVftR/EN July Diesel Power Annual • Cruise Industry Report • Safety Products Review • CAD/CAM Systems • SatCom Suppliers • Deck Machinery & Cargo Handling Equip. August U.S. Ship & Boatbuilding Annual • Software Solutions • Fast Ferry Technology • Engine Performance Equipment • Country Focus: Germany September SNAME Annual • Marine Propulsion Technology • Ship Maintenance/Safety Products • Information Technology October 60th ANNIVERSARY EDITION • SatCom Innovations • Vessel Overhaul & Maintenance • Regional Focus: U.S. East Coast • Country Focus: Sweden Get connected @ www.marinelink.com 6 INTERNATIONAL OPERATIONS CHARLES E. KEIL, Vice President 4400 N. Federal Highway, Ste. 121-06, Boca Raton, FL 33431 Telephone: +561-368-1021; Fax: +561-368-1161 24-hr Tel/Fax: +561-998-0313; Mobile Tel: +561-716-0338 Australia Italy/Malta ANNE MURRAY VITT0RI0 NEGR0NE World Media Network. Ediconsult Internazionale Suite 106, 82 Alexander Street Piazza Fontane Marose, 3-16123 Genoa, Italy Crows Nest NSW 2065 Tel: +390 10 583684; Fax: +390 10 566578 Australia Tel: +61 2 9966 4388; Fax: +61 2 9966 4311 Japan AKI0ISHII Argentina Ace Media Service Inc. R. LESLIE RAMSAY 12-6,4-chome, Nishiike Calle Pellegrini 173 Adachi-ku, Tokyo 121, Japan Primer Piso, Departamento C Tel: +81 3 5691 3335; Fax: + 81 3 5691 3336 1009 Buenos Aires, Argentina Tel: +54 1 394 8821; Fax: +54 1 326 4377 Korea JO, YOUNG SANG Benelux Business Communications, Inc. PAULA TACQ Kwangwhamun P.O. Box 1916, Seoul, Korea Maritime Media ML Tel: +82 2 739 7840; Fax: +82 2 732 3662 Otweg 18 2771 VX Boskoop, Netherlands Te: +31 172 230707; Fax: +31 172 230708 Portugal/Gibraltar PAULO BREHM Brazil AZ Publiciadade Lda., Rua Almirante Barroso, JOSE DUARTE DOS SANTOS 52-1 D, P-1000 Lisbon, Portugal Multipla Agencial Martima, Ltda. Tel: +351 1 3142256; Fax: +351 1 3525157 Rua Carolino Rodrigues 28 Cuarto Andar, CEP-11055-070 Scandinavia Santos, Sao Paulo, Brazil STEPHAN R.G. 0RN/LE0N SCHULZ Tel/Fax: +55 1 32 32 74 74 AB Stephen R.G. Orn, Box 184 S-271 24 Ystad, Sweden Central America Tel: +46 411-184 00; Fax:+46 411 105 31 EDUARD0 F. LOPEZ/ISELA BAZAN Transmarine Media Services, P.O. Box 8579, Singapore Balboa Ave., Panama 5, Panama CATHERINE WONG Tel: +507 617 1469; Fax: +507 223 8367 The Euro-Asia Link, 391 A Orchard Road #12-01 Ngee Ann City Tower A, Singapore 238873 China Tel: +65 337 4658; Fax: +65 456 4610 WANG ZE/XU XIAO FENG Liaoning Foreign Trade Advertising Corp. South Africa 2 Zhongshan Square, Dalian, China 116002 FINN KVAMSDAHL Tel: +86 411 2801924; Fax: +86 411 2644606 Finn's Enterprises, Media Marketing Division P.O. Box 99,2250, Eastern Europe Blinkpan, Republic of South Africa IVAN BERENYI/OLGAIVANOVA Tel/Fax: +27 13 2953023 Pannonia Media Agency, 8630 Balatonboglar Radnoti Miklos u.l 4, Hungary South America/ Tel: +36 85 353 319; Fax: +36 85 353 442 Caribbean Basin DELI0 R. AL0NS0 Egypt Multilink International CAPTAIN TARIQ M. 0SMAN 115 Calabria Ave., Ste. 12 Osman Marine Media Co. Coral Gables, Fla. 33134 Algamhoria St., P.O. Box 1248, Alkleej Bldg., Tel: +305-445-6423; Fax: +305-445-1483 Port Said, Egypt Tel: +20 66 340988; Fax: +20 66 325705 Spain JOSE LUIS SEVA France Via Exdusiuas S.L. DANIEL S0LNICA Viriato, 69 S-C 28010, Madrid, Spain Ediconsult Internazionale, 25 rue Saulnier Tel: +34 91 448 7622; Fax: +34 91 446 0214 75009 Paris, France Tel: +33 1 4246 9571; Fax: +33 1 4246 8508 Turkey NIHAT B0YTUZUN Germany/Switzerland Kamera Corp., Cumhurlyet Cad. 257/3, HANSJ0RG BRANS Harblye 80230, Istanbul, Turkey Maritime Media Tel: +90 212 248 48 64; Freiherr v. Stein Str. 24, D-63303 Fax: +90 212 230 36 97 Dreieich, Germany Tel: +49 6103 697745; Fax: +49 6103 697743 United Kingdom MICHAEL J. DAMSELL Hong Kong/Taiwan Euromedia Ltd., P.O. Box 122, DENNIS L0/JIMMEKWAN Hayward's Heath,West Sussex Phantom International, Ltd. RH161YF, England Room 208, Seaview Centre Tel: +44 1444 417360; 139 Hoi Bun Rd., Fax: +44 1444 410497 Kowloon East, Hong Kong Tel: +852 9179 9872; Fax: +852 2304 1232 "The Yearbook" Maritime Reporter/Engineering News