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6Maritime Reporter & Engineering News EDITORS NOTEWhen talk turns to the environment, most everyone in the maritime in- dustry, from ship and boat owners and ship and boat builders start to ?see green.? But from my experience in covering this market for nearly two decades, the green they see are dollars, specifically calculating the short- and long-term cost of compliance to new and ever-tightening environmental regulations. There are of course exceptions to every rule, and there are a significant number of quality owners that realize an investment in advanced technology today more often than not is a prudent business strategy, particularly in the tumultuous offshore energy market that demands near perfection of its vessels and personnel in the attempt to minimize potential disasters. Much of the maritime world, and the bulk of this July 2011 edition of Maritime Reporter & EngineeringNews , is focused on the marine environment for good reason: Going forward, the price of doing business on the world?s waterways ? from inland rivers and lakes to coastal treks and the world?s oceans ? is going nowhere but up. At the same time, most of the world is still engaged in a financial hangover emanating from the global financial collapse of 2008, meaning that assistance via government subsidies is generally going nowhere but down. In her Legal Beat column (p. 16) this month Joan Bondareff of Blank Rome gives a ?soup to nuts? overview regarding budget cuts in Washington and their immediate and long-term effects on the maritime industry, par- ticularly noting the imbalance between the push to further reduce Greenhouse Gas emissions while simultane-ously floating a proposal to eliminate all funding for the Diesel Emissions Reduction Act (DERA) beginning in 2012.The push to open the Arctic, for both a shipping route and energy production, continues in earnest and could prove to be one of the more important geopolitical issues of the coming generation. Challenges abound in the quest to own the Arctic, namely in the infrastructure needed to ensure that when, not if, an accident occurs, there is ample personnel and technology to ensure a timely and complete resolution. In his report on ?TheNew Polar Code and Commercial Aspects,? contributing editor Henrik Segercrantz examines some of the is- sues driving the debate. Finally, last month I had the opportunity to tap insights from Elisabeth H Tørstad of DNV for the classifi- cation?s societies views on all things environmental. Anyone who knows Norway and Norwegians knows that they are passionate about the environment, and this is evident in the global environmental stewardship of DNV across the industries it serves. Tørstad (p. 30) specifically addressed the rising cost of technology, dis- cussing challenges in making LNG powered vessels the norm, not the exception, as well as offering insights on other technologies that promise to make maritime operations more safe, efficient ? and Green. Founder:?John J. O?Malley 1905 - 1980 Charles P. O?Malley 1928 - 2000 Maritime Reporter/Engineering News is published monthly by Maritime Activ- ity Reports, Inc. Mailed at Periodicals Postage Rates at New York, NY 10199 and additional mailing offices. Postmaster send notification (Form 3579) regarding undeliverable maga- zines to Maritime Reporter/Engineering News, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of editorial material. ©2011 Maritime Activity Reports, Inc. 118 East 25th Street, New York, NY 10010 tel: (212) 477-6700; fax: (212) 254-6271ISSN-0025-3448USPS-016-750No. 7Vol. 73 MemberBusiness Publications Audit of Circulation, Inc.www.marinelink.com MARITIMEREPORTER ANDENGINEERINGNEWS All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical, photocopying, recording or otherwise without the prior written permission of the publishers.ON THE COVERPictured on this months cover is a Crowley tug reportedly on drills in Alaska. The image is courtesy of Alan Sorum of Valdez, AK, who submitted this image in the inaugural Don Sutherland Photo Contest. Gregory R. Trauthwein, Editor & Associate Publisher [email protected]