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PUBLISHER

John C. O’Malley • [email protected]

Associate Publisher & Editor

Greg Trauthwein• [email protected]

Managing Editor

Raina Clark • [email protected]

Contributing Writers

Lawrence R. DeMarcay, III • Frederick B. Goldsmith • Matt Gresham •

Randy O’Neill • Jim Shirley

PRODUCTION

Production Manager Irina Tabakina • [email protected]

SALES

Vice President, Sales & Marketing

Rob Howard • [email protected]

Sales Administration & Office Manager Rhoda Morgan • [email protected]

Sales & Event Coordinator Michelle Howard • [email protected]

Classified Sales Manager Dale Barnett • [email protected] tel: 212-477-6700

Advertising Sales Managers

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Jack Bond • [email protected]

Tel: 561-732-1659 Fax: 561-732-8063

Lucia Annunziata • [email protected] Terry Breese • [email protected]

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MarineNews On the Cover

Leading the Way

MarineNews is again honored to serve as the forum for industry lead- ing executives to air their views on the industry’s direction.

See full story starting on page 24

Salvage 16 Marine Casualty Response

By Jim Shirley

Legal 18 ABCs of MSAs

By Lawrence R. DeMarcay, III

Finance 21 Marine Finance “101”

By Richard J. Paine, Sr. 44 Vessels 46 Markets: Communications 48 People & Company News 52 Products 54 Directory: Ship & Boayards 57 By the Numbers 58 Classifieds 64 Ad Index

Marine News

Marine News is the premier magazine of the North American Inland, coastal and Offshore workboat markets.