Page 6: of Maritime Reporter Magazine (December 2003)

MARITIME

REPORTER

AND

ENGINEERING NEWS

Editor's Note

A another year closes and thoughts turn to 2004 and beyond, every indication points to a strengthening maritime market in many sectors. Whether the gauge is decidedly unscientific, such as measuring the "buzz" from one or all of the many year-end exhibitions and events, or the sometimes even more dubious information from the pages of the myriad of authoritative market reports that invariably stack upon my desk at this time of year, there are many clear business opportunities ripe for the picking.

Security

While many companies are already bemoaning the fact that there is "no money" being spent on marine security, the notion that there is no money to be made here is simply ludicrous.

The prevailing corporate culture of "perform today or die" is often patently averse to long-term development, and it is true that spending on "security" has been slower that many expect or prefer. Simply stated, though now nearly a year old, the Department of Homeland Security is still collectively getting its act together, a monumental task of integrating databases and resources to create one very large yet efficient operation.

It is essential to realize that "marine security," and all that those two simple words entail, is rapidly being woven into the very fabric of the marine business.

New rules and regulations - enacted, emerging and pending - will effectively help to re-write the way in which marine companies and entities operate, from vessel owner/operators to builders and repairers to port and ancillary shore side facilities. Put in proper historic perspective, the past two and coming ten years will be remembered as a true watershed of maritime history, particularly in the

U.S. with the reinvention of the Coast Guard, the Navy and the commercial marine operations in relation to OPA 90 and Marine Security. As history has proven time and again, leaders will lead and the strong will survive.

On the Cover

On the Cover:

Queen Mory 2 is set to become one of the most spectoculor cruise ships sailing the seas, with its maiden voyage set for mid-January 2004. 17 Government Update 19 Great Ships of 2003 33 Deck Machinery & Cargo

Handling Equipment 36 Ship's Store 37 Buyer's Directory 40 Ad Index 41 Classifieds

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No. 12 Vol. 65 118 East 25th Street, New York, NY 10010 tel: (212) 477-6700; fax: (212) 254-6271

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Charles P. O'Malley 1928 - 2000

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