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6 Maritime Reporter & Engineering News ? APRIL 2014 SUBSCRIPTION INFORMATION Subscription Information  in U.S.: One full year (12 issues) $84.00; two years (24 issues) $125.00  Rest of the World: One full year (12 issues) $110.00; two years $190.00 including postage and handling. Email: [email protected]  www.marinelink.com t: (212) 477-6700  f: (212) 254-6271 POSTMASTER: Send address changes to: Maritime Reporter & Engineering News, 850 Montauk Hwy., #867, Bayport, NY 11705. Maritime Reporter is published monthly by Maritime Activity Reports Inc. Periodicals Postage paid at New York, NY and additional mailing of ces. ISSN-0025-3448USPS-016-750No. 4 Vol. 76 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 of ces. Postmaster send noti cation (Form 3579) regarding undeliverable magazines to Maritime Reporter & Engineering News, 850 Montauk Hwy., #867, Bayport, NY 11705. Publishers are not responsible for the safekeeping or return of editorial material. © 2014 Maritime Activity Reports, Inc. 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. Check out our Websites: www.marinelink.com / www.maritimeprofessional.com / www.maritimepropulsion.com www.maritimejobs.com / www.marinetechnologynews.com / www.maritimeequipment.com www.marineelectronics.com / www.yachtingjournal.com / www.maritimetoday.com 118 East 25th Street, New York, NY 10010 tel: (212) 477-6700; fax: (212) 254-6271 Founder: John J. O?Malley 1905 - 1980 Charles P. O?Malley 1928 - 2000 Download our AppiPhone & [email protected] the history of this business is easily the most enjoyable task that I have, as I am somewhat of a history buff by nature, and I believe that a solid knowledge of what has come before lends invaluable perspec-tive on where we stand. And at the age of 48, I am reminded almost daily by my kids that I, too, am rapidly becoming somewhat of a ?historical artifact? (to put it nicely, ?fossil? to put it bluntly!), particu- larly when I say things like ?before there were cell phones? ? or ? ?before there was the internet,? usually followed by a look of disbelief and a laugh before they turn and walk away. This month we continue the celebration of Mari-time Reporter?s 75th Anniversary as we have done each of the previous three months: via an exhaus-tively researched feature article from Patricia Keefe, this one focused on the history and evolution of the Offshore Energy industry, starting on page 56. It goes without saying that the hunt for offshore oil and gas has had profound impacts on the mari-time industry over the past 75+ years, particularly so in the last 20 years or so as the ability to discover and recover energy in deeper, more hostile water further from the safety of shore has driven incred-ible changes in the machines and methods.There are examples too numerous to mention, but an obvious Þ rst look is the size, shape and capabil- ity of the Offshore Service Vessel market. In the beginning, as Keefe reports, ?shrimp boats were drafted to tow barges, haul supplies and equipment and to ferry the crews.? Fast forward to today and taking a glance at pages 12 through 16, and you will Þ nd that the OSV sector is arguably one of the most progressive and aggressive for marine design-ers, suppliers, builders and owners today, as this emerging ß eet of sleek, strong and capable vessels continues to literally change shape and grow. Floating Production Systems is another mar- ket sector that has changed dramatically over the past 20 years, and I would argue that you will Þ nd no one with more knowledge and insight on the topic than Jim McCaul of IMA, who has studied and reported on the sector in depth for nearly two decades. McCaul writes a monthly column for MR on trends in the sector, and in conjunction with this, our Offshore Annual, he goes much further in depth starting on page 38.While McCaul continues to see signs of growth in the sector, he and other analysts and insiders are beginning to chime warning bells that growth in Floating Production Systems, and deepwater offshore in general, are increasingly hitting stronger headwinds. The Þ nancial resources of the oil majors are legendary, but a rapid increase in costs for sys- tems and people to work offshore, and the prolifera- tion of cheaper-to-develop shale oil and gas around the United States could start to impact the future of this lucrative market.Stay tuned to MR and all of our electronic chan-nels for more ? if history is any indicator, we should be in for another wild ride.EDITORIAL GREG TRAUTHWEIN, EDITOR & ASSOCIATE PUBLISHER Offshore Bound Offshore Bound ... Further & Deeper but certainly not Cheaper MR #4 (1-9).indd 6MR #4 (1-9).indd 64/8/2014 1:32:33 PM4/8/2014 1:32:33 PM