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6Maritime Reporter & Engineering News 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. 12Vol. 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.EDITOR?S NOTEFew companies in maritime and offshore will be sorry to see the year 2011 slip beneath the surface. While many entered the year buoyed by a re- bound of sorts in 2010, the sputtering global economy (to be succinct, the ongoing po-litical and financial tumult in the Euro zone and the stagnate U.S. economy) have conspired to make the second half of 2011 difficult for many. However, I believe that 2012 will mark the beginning of prosperity in maritime circles. Here?s why: Offshore Oil & Gas In the aftermath of the Macondo well blow out and resulting disaster in the Gulf of Mexico, the business of drilling for oil and gas in the GOM region was shuttered. There are significant signs of life here and in fact around the world ? as many vessel builders and equipment suppliers are report- ing ?tire kickers? are fast becoming contracts ? and a vibrant offshore O&G industry significantly improves the prospects for many things maritime. Emerging Markets As one insider recently shared: Europe is up slightly, the U.S. is flat, while Asia, and the emerging markets in Africa and South America are hot. A recent interview with A.P. Møller - Mærsk A/S Group CEO Nils Andersenpublished in the November 7, 2011 edition of Fortune magazine is a great read and significant for a couple of reasons: one, it brings the maritime industry front and cen- ter to the general public; and two, he discusses how serving the infrastructure-challenged emerging markets, particularly in Africa, is in some cases dictating ship design innovation. Sticking closer to home, you can turn to page 14 and read a thorough primer from Blank Rome LLP?s Joan Bondareff and Ernest Chung regarding U.S. companies capitalizing on opportunities in Brazil. Regulation & Advancing Technology I know that ?regulation? is a figurative four-letter word in most any industry, but face it: would any but a handful of operators switch to cleaner burning, more efficient powerplants if not forced by IMO and EPA regulations? Looming emission targets and the overall emphasis on environmental is- sues has spurred a generational leap in vessel design, outfitting and operational technology and tech- nique. While keeping current is a struggle for some, incorporating new technologies can help make the maritime mode of transport more efficient overall. Tying this all together nicely is a bookend pair of features in this edition, starting on page 8 with our cover sotry, Henrik Segercrantz? sit down interview with Björn Rosengren , the new President and CEO at Wärtsilä who explains the company?s growth strategy runs through Asia. Starting page 18 is our annual collection of ?Great Ships,? a 2011 class which includes an inter- esting and innovative mix of vessels large and small from around the world. 2012 is Looking UpGregory R. Trauthwein, Editor & Associate Publisher [email protected] Dec.11 # 1 (1-9):MR Template 12/7/2011 12:29 PM Page 6