Page 36: of Marine News Magazine (October 2011)

36MNOctober 2011Since the feds' deepwater drilling moratorium in response to the BP spill was lifted in October 2010, new safety rules have been implemented and drilling permits have increased. Meanwhile, companies have announced fresh oil finds in the Gulf this year. Drilling permits are lagging pre-spill rates, how- ever, and business for offshore oil operators and marine companies servicing them has hardly returned to earlier levels. Washington regulators, on the other hand, say they're working as fast as they can to approve more permits. At Lockport, La.-based Bollinger Shipyards, Inc., one of the top U.S. boat builders, chief executive officer Boysie Bollinger said ?activity is picking up as some rigs return to drilling. However, the market seems to be getting ready to go to work, more than actually going to work.? The company oper- ates twelve shipyards in south Louisiana and Texas. He added, ?We have a long way to go to get to pre- spill levels, but there seems to be light at the end of the tunnel,? he said. ?We?re starting to feel optimism in new-build markets that have been dead since April of last year.? Gulf of MexicoLook Back, Peak Ahead Gulf Business Improves In 2011 But Is Hampered By Slow Drilling By Susan BuchananMN#10 (32-49):MN 2011 Layouts 10/5/2011 2:00 PM Page 36