Page 2: of Maritime Reporter Magazine (November 1995)

ULSTEIN

ON THE COVER

IN THE MARKET

The Ulstein Compass Thruster concept has proven its unique flexibility since its introduction in 1978. Today, our thrusters are in operation worldwide in a wide range of applications.

The fixed hull mounted Compass Thruster is suitable for all types of applications, like tugs, supply vessels, diving support vessels, inspection

Vessels and ferries. For these vessels a precision of manoeuverability and speed of response is of utmost importance, which is often difficult to obtain except with C.P. Compass Thrusters.

Power range 500 - 7000 kW.

ULSTEIN PROPELLER AS

N-6065 Ulsteinvik, Norway.

Tel.: +47-70 01 40 00. Telefax: +47-70 01 40 17.

Ulstein USA 2701 Delaware Ave.

Kenner, LA 70062

Tel: 1-504-464-4561

Fax: 1-504-464-4565

Circle 336 on Reader Service Card

Pictured on this month's cover is thelrish Sea Pioneer, a new generation of giant liftboat built in the U.S. by Bollinger

Shipyard. Jointly designed by Bollinger and Halliburton Energy Services, the Irish Sea Pioneer is a self-elevating vessel created to service the oil drill platforms in the U.K. sector of the North Sea. The vessel incorporates many technological upgrades and innovations, detailed in the story starting on page 60. ft XI IL 44 TRAIL BLAZING

Travemunde, Germany was the site for FAST '95, a technical conference which brought together some of the world's most innovative marine professionals to discuss the devel- opment, design, testing and production of fast, safe and efficient vessels.

SfcS 59 WOjramps*™^

As the International Workboat Show convenes in New Orleans, MR/EN looks back at a year filled with significant orders and deliveries, including the vessel pictured on the y/7 Lfrr cover, the Bollinger-built Irish Sea Pioneer. 85 MARINE FINANCIJ "Subsidies ... Currency Fluctuation . .. Market Demand... Profit Margin"

As builders and owners establish and enact measures to regain or retain profitability, understanding the world of marine finances has never been more crucial. tmmmmmmmmmmmK—m—msmm 118 East 25th Street

New York, NY 10010 (212) 477-6700

ENGINEERING NEWS

ISSN-0025-3448

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.

No. 11 Volume 57 Founder: John J. O'Malley 1905-1980

Maritime Reporter/Engineering News is published monthly by Maritime

Activity Reports, Inc. Mailed at Second Class Postage Rates at

Waterbury, CT 06701 and additional mailing offices.

Postmaster send notification (Form 3579) regarding undeliverable magazines to Maritime Reporter/Engineering News, 118 East 25th

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Publishers are not responsible for the safekeeping or return of editorial material. © 1995 Maritime Activity Reports, Inc.

Member

WBPA • INTERNATIONAL

Business Publications

Audit of Circulation, Inc.

ULSTEIN PROPELLE YSTEM

WITH TRUSTWORTHY REFERENCES

ALSO IN THIS ISSUE 14 30 54 94 lOO 104 114 117 125 128

TOP OF THE NEWS: Three big U.S. generation Navy ship.

PROPULSION UPDATE:

EUROPEAN UPDATE:

Js join resources to bid on a next-

Wartsila unveils new engine series in Zwolle.

The Norwegian-built research vessel Polar Queen incorporates many electronic system upgrades.

Ferliship's Recent Ship Orders

FINANCIAL UPDATE: Lykes Bros. Steamship questions than answers.

Marine Navigation & Communication Equipment

Riverboat Casino Review

Calendar of Events

Fast Action Reader Service Card

Classifieds .^r"""; 4 Maritime Reporter/Engineering News