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www.seadiscovery.com Vol. 55 No. 9 ISSN 1559-7415USPS# 023-276118 East 25th Street, New York, NY 10010 tel: (212) 477-6700; fax: (212) 254-6271Marine Technology Reporter ISSN 1559-7415 is published monthly except for February, August, and December by New Wave Media, 118 E. 25th St., New York, NY 10010-2915. Periodicals Postage at New York, NY and additional mailing ofÞ ces. POSTMASTER: Send address changes to MARINE TECHNOLOGY REPORTER, 118 E. 25th St., New York, NY 10010-2915. Postmaster send notiÞ cation (Form 3579) regarding undeliverable magazines to Marine Technology Reporter, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of editorial material. © 2012 New Wave Media. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical, photocopying, recording or otherwise without the prior written permission of the publishers. Subscription: To subscribe please visit www.seadiscovery.com/subscribe MemberEditorial www.seadiscovery.com NEW YORK118 E. 25th St., New York, NY 10010 Tel: (212) 477-6700; Fax: (212) 254-6271 FLORIDA215 NW 3rd St., Boynton Beach, FL 33435Tel: (561) 732-4368; Fax: (561) 732-6984 PUBLISHER John C. [email protected] Publisher & EditorGregory R. Trauthwein [email protected] Editors Capt. Edward Lundquist, USN (Ret.) Rhonda Moniz  Claudio PaschoaProduction ManagerIrina Tabakina [email protected] & Graphic DesignNicole Ventimiglia [email protected] Administration & OfÞ ce Manager Rhoda [email protected] & Event Coordinator Michelle Howard [email protected], Accounting Services Rhoda Morgan [email protected], Public Relations Mark [email protected], Marketing Jocelyn [email protected], Information Technology Services Vladimir [email protected] Kathleen [email protected] Vice President, Sales and MarketingRob [email protected]: (561) 732-4368  Fax: (561) 732-6984 Advertising Sales Manager Lucia M. [email protected]: (212) 477-6700  Fax: (212) 254-6271 Mike [email protected]: (561) 733-2477  Fax: (561) 732-9670 JapanKatsuhiro Ishii  amskatsu@ dream.comTel: +81 3 5691 3335  Fax: + 81 3 5691 3336 Gregory R. Trauthwein, Associate Publisher & Editor of Marine Technology Reporter. Email: [email protected] The events of late October/early November 2012 - or more speciÞ cally the devastation wrought by Hurricane Sandy on the entire New York City region - serves as a stark reminder to the importance of the cumulative work of the subsea industry. Personally and professionally we fared far better than many, as we lost power in our lower Manhattan ofÞ ce for just one week; phones for one month. A pittance really, when you consider the masses of people that literally lost everything. But the conß uence of rising sea levels and the proximity of many of the worldÕs Þ nancial and cultural hubs situated precariously close to the coast of the world, chatter here and around the world turns increasingly to engineering measures that can be enacted to at the least lessen the effects of Mother NatureÕs wrath in future instances. Your work in assessing, creating, engineering installing and maintaining such systems are central to this effort. The end-of-the-year editions are perennially my personal favorites, not because of the looming holidays but rather it affords a chance to reß ect on the year past and plan for the year to come. In this edition we offer several features which I hope will help you in your planning.As most of you well know, the offshore Oil & Gas market is vibrant again, with drilling activities extending further offshore into ever hostile, deeper but potentially lucrative waters. Starting on page 22 Joseph Corrigan of Douglas-Westwood pres- ents insights from a recent report on Subsea Vessel Operations, a report that projects spending in this niche is projected to leap an astounding 63% over the previous Þ ve year period.I am thrilled to offer the words and works of a trio of experts - Joonkoo Lee, Mary Turnipseed and Lukas Brun - who walk you through market and technology trends in the Sensor and Instrumentation sector in a most informative and entertaining man- ner. This relatively short report is based on a much larger, more exhaustive study on the matter, available to anyone who is interested for free. Full details are found in the feature, starting on page 36.OCEANA EUROPE November/December 20126 MTRMTR #9 (1-17).indd 6MTR #9 (1-17).indd 612/4/2012 9:37:51 AM12/4/2012 9:37:51 AM