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Reporter from Spain please contact Jesus Mor6n

Pictured on the cover: Pictured on this month's cover is Queen Supplier, recently completed by Bollinger Quick Repair. The workboot and offshore markets are booming with a resurgence of oil business. Coverage starts on page 24.

QZaXTTQD CUBS 34 UP, UP & AWAY

As the oil exploration and recovery business continues its march upward, so too do the fortunes of vessel own- ers/operators, builders, repairers and equipment sup- pliers. 43 GOING NOWHERE FAST

Fast ferry builders and suppliers are to the maritime industry what Intel is to the computer industry ... unfor- tunately, without the same business-driving results.

Despite a plethora of technological innovations and advances, a genuine worldwide fast ferry boom has yet to materialize. Technical Editor David Tinsley exam- ines the current situation, and offers some insights as to what will get the niche's motor running.

SO FORGING A NEW PATH

Preparing for a unified Europe and fending off low-cost competitors, Spain's maritime industry has accelerated its gravitation towards specialized or otherwise more capital intensive ships.

Tinsley, technical editor

BOATS WANTED (any condition, will pick up) by David 8 60 66 70 84 87 95 114 120 124 126 130

EC^rTDCs^raS

Marine Finance legal Update

ISM will be implemented, regardless of industry objections.

Technology Report:

Scientist unveil new map of the ocean's bottom.

Far East Update

Order surge gives S. Korean yards a leg up over their Japanese counterparts.

Balk Carrier Safety

Lessons learned developing containership technology is helping out in another niche.

Market Report

Short sea market set for phenomenal growth.

People & Company News

Australian Maritime Review

Products Showcase

Calendar of Events

Buyer's Guide

Classified Advertising

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All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical, photocopying, recording or oth- erwise without the prior written permission of the publishers.

No. 10 Vol. 59 Founder: John J. O'Malley 1905 - 1980

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Publishers are not responsible for the safekeeping or return of editorial material. © 1996 Maritime Activity Reports, Inc.

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.