Page 6: of Maritime Reporter Magazine (April 2006)

A fter covering the marine industry for nearly 15 years, there are certain words and phrases that routinely get sent “to the island,” with the intent of never appearing in print on my watch again. One of those words is (or shall I say, was) “boom.” As in headlines such as “The _(fill in the blank)_ Market is Booming.”

In discussing the recent history and near-term prospects of the offshore Oil & Gas market, however, there simply is no better word. The drive to discover and recover natural resources is increasingly being conducted in deeper waters, which is having a ripple effect felt throughout the maritime industry. The mar- ket is ripe for a new generation of bigger, stronger and faster offshore supply ves- sels, as evidenced by a boom in new orders for such vessels, led by Bourbon’s spending spree around the world, a plan which entails investing nearly $1.7 bil- lion in new boats in the next four years.

The trend toward deeper water has been led by a wealth of new and emerging underwater technologies, which is the mainstay coverage of sister publication

Marine Technology Reporter (www.seadiscovery.com). In speaking with the heads of a number of leading companies that provide the workhorses for undersea operations, it is quickly evident that the offshore Oil & Gas boom is driving near term business plans, as production at many manufacturers is running full tilt, which is still not enough.

On the production facility side of the business, there has been a marked increase in the demand for floating production systems, as the need to produce oil and gas has extended beyond the reach of fixed platforms in many cases.

According to a recent report by International Maritime Associate’s James R.

McCaul, there are now 179 floating production systems in operation, and another 46 on order. In analyzing the 30-year growth trend, the study notes that demand is up 203% in the last 10 years alone. The story on the boom in float- ing production systems starts on page 24.

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Audit of Circulation, Inc. 4 Leading Off 8 The Editorial Index 42 Norway 50 Deck Machinery & Cargo

Handling Equipment 57 Ship Sales 58 This Month in Navy History 60 Products 61 Classifieds 62 Buyer’s Directory 64 Ad Index

On the Cover: Pictured on the cover is

Richard Longdon, CEO of AVEVA. The company is profiled in this edition, starting on page 17.

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Coming in Maritime Reporter & Engineering News

May 2006

The Marine Environment Edition

Combat Craft Report • Clean Marine Fuels Marine Electronics Buyer’s Guide

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JUNE 2006

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Insightful reports on the Tanker, LNG, Bulker, Containership, Cruise Ship, Offshore and Workboat Markets World Orderbook Statistics U.S. Flag Fleet Statistics

Offshore Production Analysis & Statistics, and much more. www.marinelink.com 6 Maritime Reporter & Engineering News

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