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IN THIS ISSUE

Always a global industry, the shipbuilding market has perhaps become even more international in recent years with the advent of strategic alliances among shipyards, equipment suppliers and shipping companies. A number of key issues — economic, technical and social — combine to create a dynamic and ever-evolving industry. Terms such as "aging fleet" and "fleet replenishment", which some may pass off as industry jargon, are in fact the cornerstones to an approaching business boom in the commercial shipbuilding sector which will result in a newer, safer and more cost-effective world fleet. This issue of Maritime Reporter & Engineering News is filled with data, statistics and projections to help industry executives partake in this bright future - ed. 20 EUROPEAN UPDATE: European maritime industry adjusts to changing world market. — by Carol Fulford & Andy Smith, contributing editors 28 "THE BIG GORILLA": IMA Associate's Jim McCaul said that fleet replenishment ("the big gorilla") will drive the shipbuilding market into the next century. 50 World Yard Newbuilding Statistics 57 U.S. Yard Newbuilding Statistics 60 World Shipbuilding Contracts Recorded — April 62 Ship Repair:Tanker, ferry markets should fuel repair and conversion business. — by Alon Thorpe, international editor 64 FY'95 Dredging Contracts 70 INTERNATIONAL UPDATE — Norway: A group of Norwegian companies plan for big business in the U.S. — by Greg Trauthwein, editor 78 Inland Waterways: Riverboats of all types — from gaming to dinner & entertainment — buoy the inland market. 88 Report: Bulk Carrier Safety 1 28 Financial Update: Ship Finance: A view from, and of, the ship registry — by Guy E.C. Maitland 1 34 Repower: Siemens, MaK team to repower Canadian icebreaker. 1 36 U.S. Flag Oceangoing Merchant Fleet 144 U.S. Parent Company Foreign Flag Ships

Also in this issue: 95 Calendar of Events 126 Recent Ship Sales 143 Industry Trends 1 57 Fast Action Reader Service Card 161 Classifieds

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