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Y ear end is traditionally a time of reflection and plan- ning; an opportunity to evaluate what has occurred and incorporate these insights to better chart for future success. Despite a slowly recovering global economy and the universal tightening of budgets — from universities to government to corporations — today is a particularly interesting and potentially lucrative time to be in the busi- ness of subsea technology.

Offshore: While the Macondo spill in the Gulf of Mexico has quickly evaporated from front page news, the lingering effects — particularly the discussion and imple- mentation of new rules and regulations in the wake of the disaster — will linger. But according to Jim McCaul, a noted offshore industry market analyst and head of IMA (www.imastudies.com), the recently lifted offshore drilling moratorium and result- ing regulations will do little to stunt the industry's long-term growth. A report, with a bullish prediction of floating production systems, is on page 8.

Defense & Maritime Security: In a meeting earlier this summer, U.S. Navy CNO

Admiral Gary Roughead signaled the USN’s increased interest in the continued advancement of unmanned underwater systems, and a number of security breaches globally have kept the importance of port and harbor security — both in military and commercial sectors — at the forefront. Rear Admiral Chris Parry, starting on page 40, shares his thoughts on the “intelligent use of advanced technologies” to help minimize subsea threats. Starting on page 12, we are pleased to offer insights from

Mark Andress, Director, Navy Maritime Domain Awareness, U.S. Navy, regarding the latest position on the USN and Maritime Domain Awareness.

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