Page 6: of Maritime Reporter Magazine (November 2001)

Read this page in Pdf, Flash or Html5 edition of November 2001 Maritime Reporter Magazine

Setting A New Course

Ramifications and future fall-out on the world, nation and marine business from the terrorist attacks of September 11 will surely be a long, evolving process. It is impossible to conceive of what the next year will bring — business-wise — when it is difficult to project what is in store for the coming weeks and months. Gloom is surely the mood of the day, fed by daily reports of plummeting freight rates and oil prices, as well as Chapter 11 bankruptcy filings, such as was recently announced by American

Classic Voyages and Renaissance Cruises. It is, however, more crit- ical than ever to realize that the sun, both literally and figuratively, will rise again.

While a number of good companies today are struggling with the very real prospect of going out of business, current conditions present a good buying opportunity for well-managed companies.

Consolidation of companies that own, operate, build and supply equipment and services for vessels — already a naturally occurring trend — will likely be put on the fast-track in coming months. At press time, it appears that Northrop Grumman will come out on top in the competition to buy the crown jewel of U.S. shipbuild- ing, Newport News Shipbuilding.

Still, the very basics of owning and operating vessels, both large and small, will be forever changed. While the marine business is not the central: focus on the war on terrorism, the waterways are considered to be a viable means of delivering terror, and as such, a number of security measures are coming into place. Companies that intend to prosper would be wise to evaluate and implement the best securi ty plans today, as the secure delivery of cargo and passengers will increasingly go to companies that have a proven commitment to delivering both securely and on time. Captain

James S. Clarkson, Modern Maritime Group, writes on current security strategies for marine companies in this edition, starting on page 76.

MARITIME REPORTER

AND

ENGINEERING NEWS

NEW YORK 118 E. 25th St., New York, NY 10010

Tel: (212) 477-6700; Fox: (212) 254-6271 e-mail: mren@marinelink.com • Internet: www.marinelink.com

FLORIDA 215 NW 3rd St., Boynton Beach, FL 33435

EDITORIAL

Senior Editor

Regina P. Ciardiello • ciardiello@marinelink.com

Assistant Editor

Jennifer Rabulan • rabulan@marinelink.com

Technical Editor

David Tinsley

Editorial Consultant

James R. McCaul, president,

International Maritime Associates

MARKETING

Vice President of Marketing

Susan Cosme • cosme@marinelink.com

Marketing Manager

Richard Grable • grable@marinelink.com

Tel: (561) 732-1659; Fax: (561) 732-6984

ASSOCIATE PUBLISHER

Gregory R. Trauthwein • trauthwein@marinelink.com

PRODUCTION

Production Manager

Sharon Griffin • griffin@marinelink.com

Asst. Production Manager

Oksana Martemy • martemy@marinelink.com

CIRCULATION

Circulation Manager

Dale L. Barnett • barnett@marinelink.com

ADVERTISING SALES

Vice President of Sales Lucia M. Annunziata • annunziata@marinelink.com

Regional Sales Manager

Jennifer Truman • truman@marinelink.com

Regional Sales Manager U.S. & Canada

Brett W. Keil • bkeil@marinelink.com

Tel: (561) 732-1185; Fax: (561) 732-6984

Chief Financial Officer

Al Adinolfi

Director, New Business Development

Jean Vertucci • vertucci@marinelink.com

Electronic Product Sales

Joe Trubinsky • trubinsky@marinelink.com

Tel: (561) 732-4368; Fax: (208) 575-3217

Assistant to the Vice President of Sales

Tina Angelino • angelino@marinelink.com

Accounting Manager

Angelica Rivera • arivera@marinelink.com

Classified Sales

Tel: (212) 477-6700

PUBLISHER

John E. O'Malley

John C. O'Malley • jomalley@marinelink.com

MM?

Publications

MarineNews

Electronic Products & Services www.maritimetoday.com

Customized e-mail news service deliv- fl-lfS ered twice a day, including the latest contracts, casualties, people & compa- ny reports.

MarineNews

Published 18 times per year, MarineNews is the leading provider of infor- mation and analysis for the North American inland/offshore shallow www.marinelink.com trauthwein@marinelink.com www.maritimejobs.com • The marine industry's recruiting & employment resource. www.marinelink.com

The Internet's largest marine website, recording more than 270,000 "hits" per month. Daily news, data & statis- tics, industry directories.

Looking for service reliability, we deliver it.

ABB Turbochargers

AM

New York/NJ, Miami. Houston, Seattle/Tacoma, Los Angeles - email: turbochargers@us.abb.com 6

Circle 313 on Reader Service Card or visit www.maritimereporterinfo.com

Maritime Reporter & Engineering News

Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.