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International Representatives Editor's Note Uncontrollable external forces driving commercial development is the hall-mark of any industry. However, the last three years serve as a prime example of how such forces can significantly affect the maritime realm. When the reality of an Asian financial collapse hit in late 1997 and the price per barrel of oil eventually dove to $10, the thought of a $30+ barrel by 2000 seemed ludicrous. But, just as world political and mar- ket forces help to drag markets down, they inevitably turn and help to push them up again. Today's reality is a low to mid-$30 per barrel of oil, as tensions in the Middle East, OPEC and low product stocks continue to buoy the barrel. With concerns of an energy crisis in the U.S. Northeast this winter, Texas Republican lawmaker Joe Barton, chairman of the House Commerce Energy Subcommittee, called for a 90-day suspen- sion of the Jones Act. His legislation — which according to official and unofficial reaction is not likely to pass — would let President Clinton choose two domestic ports in the United States for foreign- flagged tankers to transport crude oil and products. In the offshore sector, the business of exploring for and producing oil — and all of the resultant marine business it supports — has been slower than anticipated, particularly with such elevated and sustained prices. But with E&P budgets widely expected to increase 20 to 25 percent in 2001, the wait could be over. Big oil corporate consolidation and some good old "hindsight is 20/20" reasoning has helped to temper the usually zealous pace for new oil exploration and production inherently associated with such a price. In short, companies are more judiciously spending today's dol- lars and planning tomorrow's budgets in order to flatten the often vio- lent market swings. Several factors, however, make this particular oil "boom" perhaps more sustainable than those past. First, most offshore and related com- panies 2001 projections are based on a barrel pricing more in the range of $22 to $28, which is the preferred target of OPEC. While company's record third quarter results continue to roll in at press time, it is evident that the industry leaders are taking a more long-term, sta- ble approach than years past. More significantly, however, the looming and soon to be booming deepwater oil industry, which according to a recent report by Schroder Salomon Smith Barney will be facing a shortage of equipment in a few years. The report, in part, reads "Deepwater construction capacity will be insufficient to handle anticipated demand requirements in 2002 and particularly 2003-04 ... We believe a rush of field development plans will be sanctioned in 2001, followed by major contract awards to marine contractors. International Operations CHARLES E. KEIL, Vice President 215 NW Third Street Boynton Beach, FL 33435 Telephone: +561-732-0312; Fax: +561-732-8063 24-hr Tel/Fax: +561-998-0313; Mobile Tel: +561-716-0338 TONY STEIN, International Sales Manager 12, Braehead, Bo'ness, West Lothian EH51 OBZ, Scotland, U.K. Telephone: +44 (0) 1506 822240; Fax: +44 (0) 1506 828085 www.marinelink.com trauthwein@marinelink.com AuslralAsia TONY STEIN 12, Braehead, Bo'ness, West Lothian EH51 OBZ, Scotland, U.K. Tel:+44 (0) 1506 822240; Fax: +44 (0) 1506 828085 Argentina R. LESLIE RAMSAY Calle Pellegrini 173 Primer Piso, Departamento C 1009 Buenos Aires, Argentina Tel:+54 1 394 8821; Fax: +54 1 326 4377 Benelux PAUIATACQ Maritime Media ML Otweg 18 2771 VX Boskoop, Netherlands Te: +31 172230707; Fax:+31 172 230708 Brazil JOSE DUARTE DOS SANTOS Multipla Agencial Martima, Ltda. Rua Carolino Rodrigues 28 Cuarto Andar, CEP-11055-070 Santos, Sao Paulo, Brazil Tel/Fax:+55 1 32 32 74 74 Central America EDUARD0 F. LOPEZ/ISELA BAZAN Transmarine Media Services, P.O. Box 8579, Balboa Ave., Panama 5, Panama Tel:+507 617 1469; Fax:+50725) 4794 China TED GREEN Zhejiang International Advertising Corp. 596 Tiyuchang Road Hangzhou, Zhejiang 31007 Tel: +86 571 5150937; Fax:+86 571 5150444 Egypt CAPTAIN TARIQM.0SMAN Osman Marine Media Co. Algamhoria Street, P.O. Box 1248, Alkeej Bldg. Port Said, Egypt Tel:+20 66 323858; Fax:+20 66 323858 Germany/Switzerland HANSJ0RG BRANS Maritime Media Freiherr v. Stein Str. 24,0-63303 Dreieich, Germany Tel:+49 6103 697745; Fax:+49 6103 697743 Italy VITT0RI0 NEGR0NE Ediconsult Internazionale Piazza Fontone Morose, 3-16123 Genoa, Italy Tel: +390 10583684; Fax:+390 10 566578 Japan AKIOISHII Ace Media Service Inc. 12-6,4-chome, Nishiike Adachi-ku, Tokyo 121, Japan Tel:+81 3 5691 3335; Fax:+ 81 3 5691 3336 Korea JO, YOUNG SANG Business Communications, Inc. Kwangwhomun P.O. Box 1916, Seoul, Korea Tel:+82 2 739 7840; Fox:+82 2 732 3662 Portugal PAULO BREHM AZ Publiciadade Lda., Rua Almirante Borroso, 52- 1 D, P-1000 Lisbon, Portugal Tel:+351 21 3142256; Fax:+351 21 3525157 Scandinavia STEPHAN R.G. 0RN/LE0N SCHULZ AB Stephan R.G. Orn, Box 184 S-271 24 Ystod, Sweden Tel:+46 411-184 00; Fax:+46 411 105 31 South Africa FINN KVAMSDAHL Finn's Enterprises, Medio Marketing Division R0. Box 99,2250, Blinkpan, Republic of South Africa Tel/Fax:+27 13 2953 023 Spain JOSE LUIS SEVA Via Exdusiuas S.L, C/ Viriato, 69 SC 28010, Madrid, Spain Tel:+34 91 448 76 22; Fax:+34 91 446 0214 Turkey NIHAT BOYTOZON Kamera Corp., Cumhurlyet Cod. 257/3, Harblye 80230, Istanbul, Turkey Tel:+90 212 248 48 64; Fax:+90 212 230 36 97 United Kingdom TONY STEIN 12, Braehead, Bo'ness, West Lothian EH51 OBZ, Scotland, U.K. Tel:+44 (0) 1506 822240; Fax:+44 (0) 1506 828085 Looking for a service partnership, we fulfill it. 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