editorial O Your Marine Technology One-Stop-Shop www.seadiscovery.com Log on everyday and receive: · Daily News · Exclusive Product & Technology Reports · New Job Listings n a recent visit to our offices in Florida, I had the pleasure to spend the better part of a day with Manhar Dhanak, Ph. D., who is the Department Chair and Director of SeaTech at Florida Atlantic University (FAU). The result of the visit transcended the normal "pay a visit, get a story" mold, as he was gracious enough to not only expose me to the wide variety of ocean engineering and related projects simultaneously underway, but to share with me his history and view of the subsea technology industry. In future editions, the results of this visit will come to fruition. The visit to FAU and the opportunity to meet some of the industry's rising technological talent reaffirmed my vision of this market as the most diverse and technologically compelling in the marine industry, if not the world. While other high-tech industries may garner the lion's share of consumer press coverage and technological skill, the opportunities inherent in the business of ocean exploration, ocean engineering and subsea defense systems must work their way increasingly into the mainstream. You cannot throw a theoretical stick without hitting a subsea technology opportunity, as: · Global Warming and the resultant effects on our Oceans; · Offshore Drilling in increasingly deep and hostile waters; and · Subsea Defense initiatives designed to efficiently gather and disseminate information; are all examples of real-world issues driving technological development in the subsea market. Being that this is MTR's "Offshore Edition", one such opportunity is discussed in a report from International Maritime Associates on the Floating Production System market. IMA reports that the orderbook backlog is at a record high, and that there should be between 119 to 149 systems ordered in the coming five years, with a cumulative orderbook value between $47-$60 million. As this end of the market escalates, so to does the need for increasing amounts of ocean engineering solutions. The offshore oil exploration industry shows no signs of slowing, though caution in this regard is always advised based on the historical boom and bust cyclical nature of this business. Simply put, as oil majors broaden the search for new energy resources and employ innovative means to extract every last drop from existing wells, the subsea technology community is becoming of increasing importance to meet this end. Technological leaps and bounds are being made on a daily basis, and some analysts believe that drilling for oil in 20,000 feet of water will be the next frontier, reached sooner than later. www.seadiscovery.com Or, join thousands of your colleagues and sign up for our weekly NEWS & JOB Updates via E-mail. It's Fast ... and FREE! Vol. 50 ISSN 1559-7415 USPS# 023-276 No. 3 1 1 8 E a s t 2 5 t h S t re e t , N e w Yo r k , N Y 1 0 0 1 0 tel: (212) 477-6700; fax: (212) 254-6271 Marine Technology Reporter is published monthly except for February, August, and December by New Wave Media, 118 E. 25th St., New York, NY 10010-2915. Periodicals Postage at New York, NY and additional mailing offices. POSTMASTER: Send address changes to MARINE TECHNOLOGY REPORTER, 118 E. 25th St., New York, NY 10010-2915. Postmaster send notification (Form 3579) regarding undeliverable magazines to Marine Technology Reporter, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of editorial material. ©2007 New Wave Media. Member 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. Business Publications Audit of Circulation, Inc. April 2007 Subscription: To subscribe please visit www.seadiscovery.com/subscribe 6 MTR
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