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FIREFIGHTING SCHOOL Resolve FIRE & HAZARD RESPONSE, INC. 1-888-886-FIRE Fax (954) 356-5898 www.resolvefire.com ? [email protected] Train in the World's Exclusive Shipboard Flashover Simulator ? USCG Approved ? UK - MCA Recognized > STCW - 95 Basic Safety Course » Specialized Yacht Programs » Industrial Courses ? In - Water Survival STCW - 95 Approved » Shipboard Fire Fighting for the Professional Fire Fighter [especially designed for port fire departments) COSPOLICH MARITIME REPORTER AND ENGINEERING NEWS ISSN-0025-3448 USPS-016-750 No. 11 Vol. 61 118 East 25th Street New York, NY 10010 (212) 477-6700 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. 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. © 1999 Maritime Activity Reports, Inc. Member INTERNATIONAL® Business Publications Audit of Circulation, Inc. SHSfiSI And We Replace Your Old Marine Refrigerator. Three inches clearance from the front. That's all we need to replace your old marine refrigerator with a Cospolich modular refrigerator. Do it yourself. No bulkhead or hatch cuts. No special skills or tools required. Kits come with easy, step-by-step instructions. Polarized wiring is pre-installed so it can't be plugged in wrong. With models from 20 cu. ft. to 200 cu. ft., all built to U.S. Navy standards, it's like having a refrigerator built to your specifications. On the Coven Technological advances on workboats of all size, configuration and type have helped to drastically improve safety and efficiency. Pictured on this month's cover ? which was supplied by Crowley Marine ? is an in-action shot from the Seattle tug race. Workboat coverage begins on page 42. 8 Challenging the norm Norwegian classification society Det Norske Veritas has again helped to raise the quality bar one notch higher, helping to establish a "virtual shipyard" in Poland. 16 Emerging markets A recent International Maritime Associates report reasons that the floating production system segment is set to grow between 48 and 66 percent in the next five years. 28 The Cruise Conundrum Cruise shipping companies ? which have been riding an all-time high ? have gotten several doses of bad publicity via accidents and mishaps. The question: how will legisla-tors respond? 31 Cruise industry magnate and industry innovator Ted Arison has died. 36 Silversea ? with new ships and new management ? is positioned to prosper. 38 Buy Now!: Lazard Freres & Co. reasons that a cruise industry investment is smart money. Circle 384 on Reader Service Card 42 Workboat '99 While Gulf of Mexico area companies are not yet ready to dub the recent oil run up as a "boom," optimism is high that sustained prices will bolster business in 2000 and beyond. 46 A Cut Above: Much investment has been made in GOM yard's steel process-ing capabilities. 49 Catch the Wave: First Wave/Newpark's amazing transformation continues. 60 Marine Electronics Cosco has invested heavily to ensure its 500+ fleet fea-tures the best electronic innovations. 4 Letters to the Editor 10 Marine Finance Seacor Smit weighs in with 3Q results. 12 Contracts 23 Propulsion Updates MAN launches new propulsion package; ABB debuts new turbocharger technology. 40 Products & Services Guide 58 Europort '99 74 Marine Engineering CIMAC reports on Oil Consumption of Medium Speed Diesel Engines. 76 U.S.C.G.: The Deepwater Project picks up steam. 113 Buyer's Guide 116 Advertiser's Index 117 Classified/Professional Advertisements Subscriptions: One full year (12 issues) $18.00 in U.S.; outside of U.S. $96.00 including postage and handling. For subscription information, contact: Dale Barnett, fax: (212) 254-6271; e-mail: [email protected] GIVE US THREE INCHES. REFRIGERATOR CO. 949 Industry Road, Kenner, LA, 70062 USA Tel. 1-800-423-7761 Fax. [504] 469-1819 Circle 379 on Reader Service Card 56D Maritime Reporter/Engineering News