Page 6: of Maritime Reporter Magazine (January 1998)

International

Representatives

EDITOR'S NOTE T he beginning of the year is used as a benchmark to assess the progress of personal and professional achievements and goals. In black and white business terms, the new year should mean little more than replacing the calendar. With long-term plans in place and near-term strategizing completed months ago, January 1 is, in reality, just another day. However, there is nothing black and white about the emotions which drive business decisions.

A host of factors which arose during the last three months of1997 have conspired to leave many in the maritime industry with a certain unsettled feeling entering 1998, which has arisen out of the uncertainty about one word... Oil.

The oil market was the big driver of maritime business in 1997. As companies acti- vated record numbers ofdeepwater offshore projects, there were acute shortages of rigs, off- shore supply vessels and equipment. Coupled with soaring barrel and tanker rates, the word "boom" couldn't be used enough in stories regarding the market.

But the oil boom armor started collecting dings late in the year, when a series of indi- vidual events conspired to collectively upset the oil supply-and-demand balance.

First, the economic troubles of many countries in the Far East have economists pro- jecting — albeit with no real clarity or certainty — the short and long-term effects of oil demands for the region. (Before the troubles began, the Far East economies were seen as major drivers in boosting world oil demand). Second, OPEC's leaders decided to boost production 10 percent in an attempt to capitalize on the peaking demand. Finally, the ongoing saga regarding the on-again, off-again "oil-for-food" deal between the U.N. and

Iraq promises to further muddy the supply and demand waters.

Here's the good news.

Although shaken, the foundation on which this oil boom was built remains solid.

Companies now have the technologies and the tax incentives to discover and recover resources in deeper and deeper waters. Short term downturns in any business are inevitable, but the fact remains that resources are out there, and someone will get them.

Also, there has been hardly a let-up in the number of rig, tanker and related offshore ves- sel contracts reported to this office. Despite some rumblings about down-sized E&P bud- gets, it appears that major offshore players are continuing to spend money on new and rebuilt equipment. Finally, word has it that the OPEC oil producers have no intention of glutting the market with unneeded oil, and will produce accordingly as events of the year unfold.

INTERNATIONAL OPERATIONS

Charles E. Keil, Vice President 980 N. Federal Highway, Ste. 206-01, Boca Raton, FL 33432

Telephone: +561-368-1021; Fax: +561-368-1161 24-hr Tel/Fax: +561-998-0313; Mobile Tel: +561-716-0338

Australia

ANNE MURRAY/YVONNE SANDFORD

World Media Network Pty. Ltd.

Suite 5, Level 1,89 York St., Sydney, NSW 2000

Australia

Tel: +61 2 9299 5677; Fax: +61 2 9299 6178

Argentina

R. LESLIE RAMSAY

Calle Pellegrini 173

Primer Piso, Departamento C 1009 Buenos Aires, Argentina

Tel: 54 1 394 8821; Fax: 54 1 326 4377

Benelux

PAULA TACQ

Maritime Media ML

Otweg 18 2771 VX Boskoop, Netherlands

Te: +31 172 230707; Fax: +31 172 230708

Brazil

JOSE DUARTE DOS SANTOS

Multipla Agencial Martima, Ltda.

Rua Carolino Rodrigues 28

Cuarlo Andar, CEP-11055-070

Santos, Sao Paulo, Brazi

Tel/Fax: 55 1 32 32 74 74

Central America

EDUARDO F. LOPEZ/LUIS A. SANCLEMENTE

Transmarine Media Service, P.O. Box 2071,

Panama 1, Panama

Tel: +507 264 8404/60; Fax: +507 223 8367

China

WANG ZE/XU XIAO FENG

Liaoning Foreign Trade Advertising Corp. 2 Zhongshan Square, Dalian, China 116002

Tel: +86 411 2801924; Fax: +86 411 2644606

Eastern Europe

IVAN BERENYI/OLGAIVAN0VA

Pannonia Media Agency, 8630 Balatonboglar

Radnoti Miklos u.14, Hungary

Tel: +36 85 353 319; Fax: +36 85 353 442

Egypt

CAPTAIN TARIQ M. OSMAN

Osman Marine Media Co.

Algamhoria St., P.O. Box 1248, Alkleej Bldg,

Port Said, Egypt

Tel: +20 66 340988; Fax: +20 66 325705

France

DANIEL SOLNICA

Ediconsult Internazionale, 25 rue Saulnier 75009 Paris, France

Tel: +33 1 4246 9571; Fax: +33 1 4246 8508

Germany & Switzerland

HANSJ0RG BRANS

Maritime Media

Freiherr v. Stein Str. 24, D-63303 Dreieich,

Germany

Tel: +49 6103 697745; Fax: +49 6103 697743

Hong Kong

NEWTON CHENG

Winwell Services Ltd., Room 808,

Yu Sung Boon Bldg. 107-111 Des Voux Road, Central Hong Kong

Tel: +852 2815 0266; Fax: +852 2544 6662

Italy/Malta

VITTORIO NEGRONE

Ediconsult Internazionale

Piazza Fontane Marose, 3-16123 Genoa, Italy

Tel: +39 10 583684; Fax: +39 10 566578

Japan

AKIOISHII

Ace Media Service Inc. 12-6,4-chome, Nishiike

Adachi-ku, Tokyo 121, Japan

Tel: +81 3 5691 3335;

Fax: + 81 3 5691 3336

Korea

JO, YOUNG SANG

Business Communications, Inc.

Kwangwhamun P.O. Box 1916, Seoul, Korea

Tel: +82 2 739 7840; Fax: +82 2 732 3662

Peru

WILLIAM FRY

Trahites y Despachos S.A.

Avenida Salaverry 3005, Lima 27, Peru

Tel: 51 1 264 3225; Fax: 51 1 264 1974

Portugal/Gibraltar

PAULO BREHM

AZ Publiciadade Lda., Rua Almirante Barroso, 52-1 D, P-1000 Lisbon, Portugal

Tel:+351 1 3142256; Fax:+351 1 3525157

Scandinavia

STEPHAN R.G. ORN/LEON SCHULZ

AB Stephan R.G. Orn, Box 184

S-271 24 Ystad, Sweden

Tel: +46 411-184 00; Fax: +46 411 105 31

Singapore

CATHERINE WONG

The Euro-Asia Link, 391 A Orchard Road #12-01

Ngee Ann City Tower A, Singapore 238873

Tel: +65 337 4658; Fax: +65 456 4610

South Africa

FINN KVAMSDAHL

Finn's Enterprises, Media Marketing Division

P.O. Box 99, 2250,

Blinkpan, Republic of South Africa

Tel/Fax: +27 13 2963 023

South America/

Caribbean Basin

DELIO R. ALONSO

Multilink International 115 Calabria Ave., Ste. 12

Coral Gables, Fla. 33134

Tel: +305-445-6423; Fax: +305-445-1483

Spain

JESUS MORAN

Via Exdusiuas S.L.

Modesto Lafuente, 4 28010, Madrid, Spain

Tel: +341 448 7622; Fax: +341 446 0198

Turkey

NIHAT BOYTUZUN/ROWENA BAILEY

Kamera Corp., Cumhurlyet Cad. 257/3,

Harblye 80230, Istanbul, Turkey

Tel:+90 212 231 14 20;

Fax: +90 212 230 36 97

United Kingdom

MICHAEL J. DAMSELL

Euromedia Ltd., P.O. Box 122,

Hayward's Heath,West Sussex

RH16 1YF, England

Tel: +44 1444 417360;

Fax: +44 1 1896 784089

Maritime Reporter/Engineering News