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EDITORIAL

Dear Readers,

“The times they are a-changing.” The effects of the global fi- nancial crisis are becoming noticeable not only in ship- ping but also in other branches of industry. In their quest to meet the needs of the market and to offer their cus- tomers an even more comprehensive portfolio, compa- nies everywhere are prospecting for innovative services and new fields of business. The current situation offers a golden opportunity to set the course for efficient and sustainable business operations.

In addition, the rapid change in the world’s climate calls for concerted efforts by the community of states, in order to achieve quantifiable success in the battle against global warming. A frugal and economical use of fossil en- ergy sources is everyone’s duty, the increased application of renewable energy sources – such as wind, solar and water power – the logical consequence. In this field, Ger- manischer Lloyd is a competent and reliable partner.

Extended spectrum of services. On 1 May, the cartel author- ities approved the merger of Noble Denton and Germa- nischer Lloyd, making this British enterprise the young- est member of the dynamically growing GL Group. With a global workforce of over 900 specialists, Noble Denton has been instrumental as a marine advisor and warranty surveyor in reaching most of the major milestones in the offshore industry. Together, we will provide consulting, assurance as well as project management on a worldwide scale, especially for the oil & gas and renewable energy sectors as well as for the maritime industry. As a result, we are becoming the leading provider of services to the offshore sector. Pekka Paasivaara

The use of mobile FSO/FPSO units can transform production in small or remote oil fields into an attractive business proposition, as described in our article on producing oil without a pipe- line (from page 39). Especially in these times of financial crisis, a thorough evaluation of the technical and commercial feasibility is simply indispensable, and this is true not only of wind energy projects. The due diligence service of GL Renewables (see page 44) helps to put projects on a firm footing – from both the technological and the financial viewpoint.

Once again, a lot has happened at Germanischer Lloyd. With Friendship Consulting and Friend- ship Systems joining the GL Group in January, we were able to extend our range of consulting and software services for shipping companies and yards as well as the maritime supply indus- try. This was soon followed by the acquisition of International Refinery Services in Singapore, giving GL extensive expertise in the field of risk management and sophisticated inspection techniques. Know-how and services from a single source: in the lead story (from page 12), read how GL and the new member companies have systematically broadened the performance spectrum in both the Maritime Services and the Industrial Services – all to your benefit.

D a s B e s o n d e r e i s t u n s e r e S t ä r k e W h a t e v e r y o u r p l a n s , a s k u s fi r s t w e s u p p o r t y o u i n a l l y o u r e n d e a v o u r s . G l o b a l l y a n d l o c a l l y . Y o u r s s i n c e r e l y , P e k k a P a a s i v a a r a Member of the Executive Board Germanischer Lloyd

nonstop 02/2008

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