Page 2: of Maritime Reporter Magazine (March 1997)

THERE IS NO

COMPARISON

More than 4,000 individuals have been recognized by NACE through the internationally known NACE Coating

Inspector Training and Certification

Program.

Now, NACE offers a 3-day MARINE

COATING INSPECTION SPECIALTY

COURSE that addresses head-on the coating and coating inspection problems unique to marine environments. surface preparation ^ coating types and considerations ^ marine standards and shipyard regulations ^ inspection procedures and techniques k®3 survey on hulls and tanks ^ AND MORE!

When it comes to training and certifying Coating Inspectors, NACE has it covered - there is no comparison.

Call Today for a detailed brochure and course outline. 281/492-0535, ext. 81

COURSE DATES: • May 7-9, 1997

Houston, TX • June 7-9, 1997

Oxnard, CA

ANACE

Informing tho World on Corrosion Control 2K

Circle 322 on Reader Service Card

On The Cover

This month's cover features Al Hamra, the third in a series of four Kvaerner Masa Yard-built LNG carriers for Abu Dhabi National Oil Co. This month's focus on Tanker Technology starts on page 38. 8 MARINE FINANCE

Shipping Funds: Why they fail, and why they don't have to.

SHIP REPAIR GUIDE

A selection of articles detailing technical, legislative and managerial issues for the repair market. 38 TANKER TECHNOLOGY

Technical editor David Tinsley explores the technological advances of some of the world's preeminent tanker builders. 24 EUROPEAN UPDATE 47 ASNE Show Preview 51 Propulsion Updates Falk drives promote efficient maneuvering. 76 People A Company News 81 Legislative Update 86 Far East Update 90 Viet Portex '97 Preview

FROM SPACE TO SEA: A new mobile laser docking aid incorporates much of the same technology as a system used to help U.S. astronauts dock with the Hubble

Telescope and the Russian MIR. See story on page 61. 84 OFFSHORE & SHALLOW 9 1 nn-

Subscriptions: One full year (12 issues) SI 8.00 in U.S.; outside of U.S. S96.00 including postage and han- dling. For subscription information, contact: Dale Barnett, fax: (212) 254-6271. 118 East 25th Street

New York, NY 10010 (212) 477-6700

AND

ENGINEERING NEWS

ISSN-0025-3448

USPS-016-750

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. 3 Vol. 59 Founder: John J. O'Malley 1905 - 1980

Maritime Reporter/Engineering News is published monthly by Maritime

Activity Reports, Inc. Mailed at Periodicals Postage Rates at Waterbury,

CT 06701 and additional mailing offices.

Postmaster send notification (Form 3579) regarding undeliverable magazines to Maritime Reporter/Engineering News, 118 East 25th

Street, New York, NY 10010.

Canada Post International Publications Mail Product (Canadian

Distribution) Sales Agreement No. 0970700. Printed in U.S.A.

Publishers are not responsible for the safekeeping or return of editorial material. © 1996 Maritime Activity Reports, Inc.

Member

WBPA • INTERNATIONAL

Business Publications

Audit of Circulation, Inc. 2 Maritime Reporter & Engineering News