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Audit of Circulation, Inc. 8 News 65 Marine Electronics Guide 75 Buyer’s Directory 71 Ship’s Store 78 Classifieds 80 Ad Index 81 Ship’s Store

On the cover is an artist’s rendition of the pro- posed Cabrillo Port — a floating LNG offshore vessel measuring 938 x 213 ft. (286 x 65 m) — to be located approximately 21 miles offshore of

California from the City of Port Hueneme. Cabrillo

Port will house three spherical storage tanks into which the LNG is pumped from delivering carriers.

See related article on page 34

Editor’s Note www.marinelink.com [email protected]

On the Cover

Circle 201 on Reader Service Card

Coming in Maritime Reporter & Engineering News

May 2005 NORSHIPPING 2005 Edition “Be in Oslo” with Maritime Reporter at one of the shipping industry’s most impor- tant events. Marine Environment Edition Maritime Security Products Marine

Fuels, Lubricants and Additives Marine Propulsion Country Focus: Norway

June 2005 The Annual World Yearbook

The World’s Largest & Most Informative Marine Industy Annual, with topical technical and market reports including: Shipbuilding Containerships Tankers LNG Offshore Cruise Ship Workboat Market Report, and more.

Also in this edition: RIB Report; Training & Education Country Focus: UK www.marinelink.com 6 Maritime Reporter & Engineering News

A s I approach the completion of my fourth decade alive, I recently came to the conclusion that I’m getting old. I do not seek sympathy or encouragement from those older, nor jeers and jokes from those younger, as it has nothing to do with “40”. However my body’s ability — or more accurately its lack thereof — to rebound after strenu- ous “weekend warrior” activities is diminishing. Case in point: this winter, in an attempt to help my son learn snowboarding, I, too jumped in for a lesson, and am now contemplating writing a book entitled “The Bunny Slope That Kicked My _ _ _!”

As seems to be my fate, however, just when things seem particularly bleak — and believe me, they seemed especially bleak for about a week after my stint on that Pennsylvania mountain — along comes something to provide equilibrium.

On this occasion it is paleontologists Robert B. Witrock’s story on page 30, “Hunting for Oil with Microfossils,” that did the trick.

In studying creatures that lived and died hundreds of millions of years ago, sci- entists are using the information to more efficiently help companies discover and recover hydrocarbon resources. (There’s something about “hundreds of mil- lions” that puts a human lifespan in perspective). This month’s edition, our annual look at the Offshore Industry in conjunction with the Offshore

Technology Conference held in Houston, is literally packed with articles, analy- sis and information as to the direction and long term prospects of offshore oil production. I hesitate here to predict an upturn — and the phrase “offshore boom” is in exile for sure — for those that make their living in the oil patch are mystified as to why persistent $50/barrel prices have not resulted in a frenzy of activity. However, there are many signs that business is ramping up. LNG is (or should be) on the top of many agendas, as the demand, production and supply of liquefied natural gas, and the resultant business opportunities, are expected to rise rapidly. New government incentives to drive deepwater oil exploration is expected to stir new interest in these tracts, and the Minerals Management

Service predicts that oil production in the GOM will rise to a record two mil- lion barrels per day in 2006, and that it could reach 2.25 million bpd by 2011. (See related story on page 29) w

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