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EDITOR’S NOTE not one to make a lot of predictions, especially when it comes to divining when the price of oil will reach and sustain a palatable plateau for offshore operators

I’m and their clients. That being said; there is plenty happening on the water, in the heartland and everywhere else in between. Moreover, this industry inertia gives me plenty of reason to be optimistic for the collective, North American waterfront. Stay with me for just a minute, and

I’ll show you why.

It is easy to ? xate on Gulf of Mexico oil-related woes, but there is also ample reason for tempered optimism. The impact of a much anticipated ‘subchapter M’ towboat rule is likely far less than expected for uninspected vessel operators, but even with delayed implementation [email protected] timelines and otherwise watered down content (we waited 12 years for this?), workboat repair yards will see at least a nominal uptick in business as a result. Separately, the advent of offshore wind on this side of the big pond didn’t arrive a minute too soon. If and when it does take off,

Jones Act rules will require either a newbuild program and/or a thoughtful repurposing of the ample offshore service tonnage now laying idle in the U.S. Gulf.

Separately, the Gulf Coast boatbuilding industry (in particular) got a much-needed boost this past quarter with the U.S. Coast Guard’s long-awaited Offshore Patrol Cutter (OPC) award to Eastern Shipbuilding, while two other Louisiana-based yards hit the jackpot with New York

City ferry contract(s). And, as I sat down to write this note this morning, the news of three dredge newbuilding contracts hit my desk.

Elsewhere, the impact of the IMO’s rati? cation of the international ballast water convention and signs that the Coast Guard is inching towards approval of one or more OEM BWT de- signs is dif? cult to gauge. After all, the domestic brown water industry will likely have limited exposure to this retro? t tsunami, when it comes, but anything being built or operating in the offshore 300’ range will have to be considered prime targets.

I promised you no predictions. But, you ask: what is the state of the broader workboat market?

To be fair, the world of workboats encompasses far more than just the offshore sector. In this edition, we bring you two contrasting views of current conditions. Longtime MarineNews con- tributor Susan Buchanan weighs in on the state of the industry from the perspective of offshore

Gulf of Mexico stakeholders. It isn’t always pretty, but it does incorporate the full range of analysis and opinions from those who ought to know. In contrast, Kathy A. Smith paints a far different picture of what’s happening now for the broader markets. As global shipyard operator

Damen formally enters the U.S. markets with a physical presence in Houston, it is hard to ? nd the downside of as many as 27 new design contracts for domestic boat yards. There’s plenty of balance out there, if you only look for it. We did, and so too can you.

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Joseph Keefe, Editor, [email protected]

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