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Pictured on the cover: Alabama Shipyard has helped lead the U.S. maritime indus- try charge, winning prestigious newbuild, repair and conversion contracts. Pictured is V.

Ships' Skaunord, which recently underwent work at Alabama. 25 48

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Lake Champlain in Burlington, Vt., is the site of one of the most historic maritime finds in some time: A 220-year old, near pristine gunboat which served as part of Benedict Arnold's fleet during the American Revolution. — by Nina D. Miller, associate editor. The 220-year-old gunboat's bow

U.S. ship and boatbuilders are seeing investments in facility improve- ments and a popular MarAd program pay off in the form of new build, conversion and repair orders, from navy to commercial and deep to shallow draft.

FINNISH MARITIME REVIEW

Finland's maritime business is keeping its course by maintaining its alle giance to developing and delivering technologically advanced, market- driven solutions. — by David Tinsley, technical editor. 11 Marin* Finance 34 Far East Update 41 D«

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No. 8 Vol. 59 Founder: John J. O'Malley 1905 - 1980

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