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Founder: John J. O?Malley 1905 - 1980 Charles P. O?Malley 1928 - 2000 Maritime Reporter/Engineering News (ISSN # 0025-3448) is published monthly by Maritime Activity Reports, Inc.118 East 25th Street, New York, NY 10010. 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. ©2012 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. 74 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.Gregory R. Trauthwein, Editor & Associate Publisher [email protected] EDITORIALThe year-end editions of all publications we produce are perennially my favorites, and not simply because they signal time off over the holidays for food, drink, family and friends. The year-end editions to me remain a symbolic and real time of reflection on the past year?s events, but even more importantly an overview of the market with some insights of trends to come. I find this particularly important today, in the 24/7 life and news cycle where there rarely is true downtime, and the tether between office and employee becomes ever stronger with the advent of tech- nology. Despite common perception, good news and opportunities abound in today?s maritime market. Ves- sel owners generally tend to be a ?glass half empty? lot, as they are constantly challenged to invest in fleet and personnel to meet emerging international, national and sometime local rules. While it would be my distinct pleasure to be the one reporting a moratorium from costly new mandates, I?m afraid it?s not going to happen; ever. Increasingly stringent mandates, particularly in respect to the environmen- tal signature of a fleet and the health, welfare, training and education of its seafarers will become ever more onerous. How can this possibly fall under the ?Good New? category, you ask? Look at the case of MV Cellus, a small specialty German freighter owned by R. Braren of Kollmer, Germany, and built in 1998 by Peters Schiffbau to an exceptionally high technical spec with the aim of reducing emissions, among other environmental initiatives. Our German-based correspondent Dipl.-Ing. Peter Pospiech reports on this innovative ship ? which incidentally is the first ship ever to be conferred the Blue Angel eco label ? starting on page 30. (If you have never heard of the ?Blue Angel? eco label, you are in good company, as my first knowledge of it was when Peter proposed the story.) The offshore energy industry continues to be the light burning bright in terms of business prospects, as globally the hunt to discover and recover oil and gas kicks into high gear. According to IMA?s 48th Floating Production System report, which is featured on page 8, the number of floater projects now in the planning stage is 12% greater than a year ago, 64% higher than five years ago. In another show of optimism, five speculative production floater orders have been placed in the last 12 months. The locales are well known ? the Gulf of Mexico, Brazil, the North Sea, and offshore West Africa ? but the emerg- ing technologies to help maximize production on sites thought to be expiring is developing at break- neck speed, promising vibrant opportunities in this sector for some time to come. The vast potential does not come without challenges, as a rigorous regulatory environment continues in the Gulf of Mex- ico and political issues, led by local content laws, are working to slow outsider?s penetration in Brazil. While this is our traditional Great Ships edition, focused primarily on new vessels with the latest technologies, we also are pleased to feature in this edition an article on a darker side of the industry, the Shipbreaking industry. Specifically, Mumbai-based correspondent Joseph Fonseca brings to light some of the positives coming from a well managed operation which has an eye on safety. Specifically, the new IMO convention on Ship Recycling and the EU Proposal for Regulation of Ship Recycling has the ship recyclers in Alang, India, on high alert to the possible ramifications, including complete clo- sure of the operations.6Maritime Reporter & Engineering News MR#12 (1-9):MR Template 12/5/2012 11:41 AM Page 6