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fects for ship financing, the crisis and the position of the KG models and rescue schemes which really work for this sector. The marine engine in- dustry's CIMAC Circle panel discussion will this year be held on Sep- tember 9th, around the topic "Total Cost of Ownership of Marine

Propulsion Engines". SMM has traditionally been the meeting place for a number of events. This year a total of some 150 conferences, work- shops, symposia and meetings are to be held.

This year, a new online visitor service system is to be set-up (from Au- gust, at www.smm-hamburg.com) for connecting visitors and exhibitors and help setting up meetings.

June 2010 www.marinelink.com 63 "Trade fairs mirror the market," Bernd

Aufderheide, President and CEO of the or- ganizer Hamburg Messe und Congress

GmbH, said when talking about the current mood of the shipbuilding industry. If the full booking of SMM is an indication, Aufder- heide's words were good news for the audi- ence of a recent advance press conference organized by SMM. "One of the aims is to provide a better understanding of the issues by all," Captain James M. Hunn, steering committee member at the global maritime environmental congress gmec, and SVP

Maritime Policy and Compliance at Carnival

Corporation & plc, said, about goals of the gmec. "When it comes to environmental stewardship and sustainable operations, the maritime industry is part of the solution, not part of the problem," he said. Lars Gorwell-

Dahll, Vice-Chairman of the European Ma- rine Equipment Council and SVP, Corporate

Business Development at Kongsberg, noted that marine equipment can influence on all environmental aspects of a ship's lifecycle.

Dr. Martin Stopford, MD at Clarkson Re- search Services, provided his views on the state of World Shipbuilding: The weak per- formance in shipping rates has moderated in 2010, and the earning index has recov- ered to $18,397/day from $11,330/day in 2009. In May 2010 the ship orderbook was 489mdwt down from the peak 619mdwt of 2008. "No one knows exactly the destiny of all existing orders," he though said. The price of a VLCC is now $101m, but is edging up again. Although a slight pick up in ship con- tracting, it is still very slow, only $4.6bn dur- ing the first quarter. Bulk carriers dominate investment, with $3.5bn worth of contracts in the first quarter, compared with $0.9bn worth of tankers and no containerships. In 2009 new ship contracts were signed for $26bn and in 2008 for $160bn. Marine equipment orderbooks are estimated at $212bn in 2009 with sales $23bn. Stopford still sees an increase in shipyard capacity from 116.7mdwt in 2009 to 143mdwt in 2010, though more slippage remains likely.

In 2009 shipbuilding deliveries increased by 29% to 116.7mdwt, but a scheduled 61.3mdwt were not delivered.

In 2009 China jumped into second place with 27% of ship deliveries, overtaking

Japan with 21%. Korea lead with a market share of 35%. China might overtake Korea in 2010, measured in cgt. "But this is a small margin in a very uncertain situation, so we will have to wait and see what happens,"

Stopford noted. The world fleet is esti- mated to grow by about 7% in 2010 and 8.7% in 2011, to 1,443mdwt. This is an in- crease by 42% in five years. "Given this growth the future business cli- mate in shipbuilding and marine engineering depends on a strong sustained recovery in the world economy," Stopford concluded.

Optimism on the Horizon

John Westwood, Chairman of Douglas-Westwood Ltd., pictured de- livering the Keynote Address at the recent OceanTech Expo (www.oceantechexpo.com), held May 25-27, 2010 in Newport, RI.

Westwood will open the new “Offshore Dialogue,” a two-day work- shop to be held September 8-9, 2010 in conjunction with SMM’10. (Photo: Gr eg T rauthwein)