Page 8: of Maritime Reporter Magazine (November 2000)

International Representatives Editor's Note

Uncontrollable external forces driving commercial development is the hall-mark of any industry. However, the last three years serve as a prime example of how such forces can significantly affect the maritime realm. When the reality of an Asian financial collapse hit in late 1997 and the price per barrel of oil eventually dove to $10, the thought of a $30+ barrel by 2000 seemed ludicrous. But, just as world political and mar- ket forces help to drag markets down, they inevitably turn and help to push them up again.

Today's reality is a low to mid-$30 per barrel of oil, as tensions in the Middle East, OPEC and low product stocks continue to buoy the barrel. With concerns of an energy crisis in the U.S. Northeast this winter, Texas Republican lawmaker Joe Barton, chairman of the

House Commerce Energy Subcommittee, called for a 90-day suspen- sion of the Jones Act. His legislation — which according to official and unofficial reaction is not likely to pass — would let President

Clinton choose two domestic ports in the United States for foreign- flagged tankers to transport crude oil and products.

In the offshore sector, the business of exploring for and producing oil — and all of the resultant marine business it supports — has been slower than anticipated, particularly with such elevated and sustained prices. But with E&P budgets widely expected to increase 20 to 25 percent in 2001, the wait could be over.

Big oil corporate consolidation and some good old "hindsight is 20/20" reasoning has helped to temper the usually zealous pace for new oil exploration and production inherently associated with such a price. In short, companies are more judiciously spending today's dol- lars and planning tomorrow's budgets in order to flatten the often vio- lent market swings.

Several factors, however, make this particular oil "boom" perhaps more sustainable than those past. First, most offshore and related com- panies 2001 projections are based on a barrel pricing more in the range of $22 to $28, which is the preferred target of OPEC. While company's record third quarter results continue to roll in at press time, it is evident that the industry leaders are taking a more long-term, sta- ble approach than years past.

More significantly, however, the looming and soon to be booming deepwater oil industry, which according to a recent report by Schroder

Salomon Smith Barney will be facing a shortage of equipment in a few years. The report, in part, reads "Deepwater construction capacity will be insufficient to handle anticipated demand requirements in 2002 and particularly 2003-04 ... We believe a rush of field development plans will be sanctioned in 2001, followed by major contract awards to marine contractors.

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Boynton Beach, FL 33435

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TONY STEIN, International Sales Manager 12, Braehead, Bo'ness, West Lothian EH51 OBZ, Scotland, U.K.

Telephone: +44 (0) 1506 822240; Fax: +44 (0) 1506 828085 www.marinelink.com [email protected]

AuslralAsia

TONY STEIN 12, Braehead, Bo'ness, West Lothian EH51

OBZ, Scotland, U.K.

Tel:+44 (0) 1506 822240;

Fax: +44 (0) 1506 828085

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

PAUIATACQ

Maritime Media ML

Otweg 18 2771 VX Boskoop, Netherlands

Te: +31 172230707;

Fax:+31 172 230708

Brazil

JOSE DUARTE DOS SANTOS

Multipla Agencial Martima, Ltda.

Rua Carolino Rodrigues 28

Cuarto Andar, CEP-11055-070

Santos, Sao Paulo, Brazil

Tel/Fax:+55 1 32 32 74 74

Central America

EDUARD0 F. LOPEZ/ISELA BAZAN

Transmarine Media Services, P.O. Box 8579,

Balboa Ave., Panama 5, Panama

Tel:+507 617 1469;

Fax:+50725) 4794

China

TED GREEN

Zhejiang International Advertising Corp. 596 Tiyuchang Road

Hangzhou, Zhejiang 31007

Tel: +86 571 5150937; Fax:+86 571 5150444

Egypt

CAPTAIN TARIQM.0SMAN

Osman Marine Media Co.

Algamhoria Street, P.O. Box 1248, Alkeej Bldg.

Port Said, Egypt

Tel:+20 66 323858; Fax:+20 66 323858

Germany/Switzerland

HANSJ0RG BRANS

Maritime Media

Freiherr v. Stein Str. 24,0-63303

Dreieich, Germany

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

Italy

VITT0RI0 NEGR0NE

Ediconsult Internazionale

Piazza Fontone Morose, 3-16123 Genoa, Italy

Tel: +390 10583684;

Fax:+390 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.

Kwangwhomun P.O. Box 1916, Seoul, Korea

Tel:+82 2 739 7840;

Fox:+82 2 732 3662

Portugal

PAULO BREHM

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

Tel:+351 21 3142256;

Fax:+351 21 3525157

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STEPHAN R.G. 0RN/LE0N SCHULZ

AB Stephan R.G. Orn, Box 184

S-271 24 Ystod, Sweden

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Fax:+46 411 105 31

South Africa

FINN KVAMSDAHL

Finn's Enterprises, Medio Marketing Division

R0. Box 99,2250,

Blinkpan, Republic of South Africa

Tel/Fax:+27 13 2953 023

Spain

JOSE LUIS SEVA

Via Exdusiuas S.L, C/ Viriato, 69 SC 28010, Madrid, Spain

Tel:+34 91 448 76 22;

Fax:+34 91 446 0214

Turkey

NIHAT BOYTOZON

Kamera Corp., Cumhurlyet Cod. 257/3,

Harblye 80230, Istanbul, Turkey

Tel:+90 212 248 48 64;

Fax:+90 212 230 36 97

United Kingdom

TONY STEIN 12, Braehead, Bo'ness, West Lothian EH51

OBZ, Scotland, U.K.

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Fax:+44 (0) 1506 828085

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