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Setting A New Course Ramifications and future fall-out on the world, nation and marine business from the terrorist attacks of September 11 will surely be a long, evolving process. It is impossible to conceive of what the next year will bring — business-wise — when it is difficult to project what is in store for the coming weeks and months. Gloom is surely the mood of the day, fed by daily reports of plummeting freight rates and oil prices, as well as Chapter 11 bankruptcy filings, such as was recently announced by American Classic Voyages and Renaissance Cruises. It is, however, more crit- ical than ever to realize that the sun, both literally and figuratively, will rise again. While a number of good companies today are struggling with the very real prospect of going out of business, current conditions present a good buying opportunity for well-managed companies. Consolidation of companies that own, operate, build and supply equipment and services for vessels — already a naturally occurring trend — will likely be put on the fast-track in coming months. At press time, it appears that Northrop Grumman will come out on top in the competition to buy the crown jewel of U.S. shipbuild- ing, Newport News Shipbuilding. Still, the very basics of owning and operating vessels, both large and small, will be forever changed. While the marine business is not the central: focus on the war on terrorism, the waterways are considered to be a viable means of delivering terror, and as such, a number of security measures are coming into place. Companies that intend to prosper would be wise to evaluate and implement the best securi ty plans today, as the secure delivery of cargo and passengers will increasingly go to companies that have a proven commitment to delivering both securely and on time. Captain James S. Clarkson, Modern Maritime Group, writes on current security strategies for marine companies in this edition, starting on page 76. MARITIME REPORTER AND ENGINEERING NEWS NEW YORK 118 E. 25th St., New York, NY 10010 Tel: (212) 477-6700; Fox: (212) 254-6271 e-mail: mren@marinelink.com • Internet: www.marinelink.com FLORIDA 215 NW 3rd St., Boynton Beach, FL 33435 EDITORIAL Senior Editor Regina P. Ciardiello • ciardiello@marinelink.com Assistant Editor Jennifer Rabulan • rabulan@marinelink.com Technical Editor David Tinsley Editorial Consultant James R. McCaul, president, International Maritime Associates MARKETING Vice President of Marketing Susan Cosme • cosme@marinelink.com Marketing Manager Richard Grable • grable@marinelink.com Tel: (561) 732-1659; Fax: (561) 732-6984 ASSOCIATE PUBLISHER Gregory R. Trauthwein • trauthwein@marinelink.com PRODUCTION Production Manager Sharon Griffin • griffin@marinelink.com Asst. Production Manager Oksana Martemy • martemy@marinelink.com CIRCULATION Circulation Manager Dale L. Barnett • barnett@marinelink.com ADVERTISING SALES Vice President of Sales Lucia M. Annunziata • annunziata@marinelink.com Regional Sales Manager Jennifer Truman • truman@marinelink.com Regional Sales Manager U.S. & Canada Brett W. Keil • bkeil@marinelink.com Tel: (561) 732-1185; Fax: (561) 732-6984 Chief Financial Officer Al Adinolfi Director, New Business Development Jean Vertucci • vertucci@marinelink.com Electronic Product Sales • @marinelink.com Tel: (561) 732-4368; Fax: (208) 575-3217 Assistant to the Vice President of Sales Tina Angelino • angelino@marinelink.com Accounting Manager Angelica Rivera • arivera@marinelink.com Classified Sales Tel: (212) 477-6700 PUBLISHER John E. O'Malley John C. O'Malley • jomalley@marinelink.com MM? Publications MarineNews Electronic Products & Services www.maritimetoday.com Customized e-mail news service deliv- fl-lfS ered twice a day, including the latest contracts, casualties, people & compa- ny reports. MarineNews Published 18 times per year, MarineNews is the leading provider of infor- mation and analysis for the North American inland/offshore shallow www.marinelink.com trauthwein@marinelink.com www.maritimejobs.com • The marine industry's recruiting & employment resource. www.marinelink.com The Internet's largest marine website, recording more than 270,000 "hits" per month. Daily news, data & statis- tics, industry directories. Looking for service reliability, we deliver it. ABB Turbochargers AM New York/NJ, Miami. Houston, Seattle/Tacoma, Los Angeles - email: turbochargers@us.abb.com 6 Circle 313 on Reader Service Card or visit www.maritimereporterinfo.com Maritime Reporter & Engineering News
