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MARITIME

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ENGINEERING NEWS

On the Cover: (Photo Credit: Walter Garschagen - 1996) 7 Digging Deep ... Really Deep

Spain's Astano has completed the last in the Discoverer series, a trio of ships that are helping to redefine possibility and profitability in deepwa- ter operations.— by Greg Trauthwein, editorial director 8 On A Roll

Rolls Royce has successfully scooped up a number of marine propulsion manufacturers, and is positioned to prosper in many markets. — by

David Tinsley, technical editor

The World Yearbook 33 Nice Guys Finish First Rod McLeod has built a two plus decades career atop the cruise industry on hard work. Associate editor Regina Ciardiello finds that he thoroughly disproves the notion that nice guys finish last. 36 It's A New World Rarely does a week go by that the new "ultimate" e- commerce solution targeting the maritime market is not launched. MR/EN provides an "E-Commerce 101" plus critiques some of the new Internet hot spots. 49 Tanker Market Report Setting the Course for Stability? 54 Containership Market Report The New Age of

Containerization 59 Dry Bulk Market Report The Year of Little Change 63 Statistics: Cruise Ship Orderbook; Capesize Indices 64 U.S. Market Report Crewboat technology in the Gulf of

Mexico is pushing new boundaries in terms of size, weight and speed. 66 Survival of the Big Six — and the maintenance of a capable shipbuilding infrastructure in the U.S. — depends on a healthy infusion of Naval orders...And soon. 73 U.S. Ship Repair leaders strategize for the future 77 10 Marine Innovations 88B Statistics: World Shipyard Orderbook; Rig Utilization Rates;

Baltic Indices/DryBulk Trends; Stock Market Watch. 14 Legal Beat: A Practical Discussion Regarding Compliance 20 Contracts 25 New & Notable 84 Ship Repair & Conversion 89 People & Company News 101 Buyers Guide 104 Advertiser's Index 105 Classifieds

Subscriptions: One full year (12 issues) $18.00 in U.S.; outside of U.S. $96.00 including postage and handling. For subscription information, contact: Dale Barnett, fax: (212) 254-6271; e-mail: [email protected] 118 East 25th Street

New York, NY 10010 (212) 477-6700

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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. 6 Vol. 62

Founder: John J. O'Malley 1905 - 1980

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