Update - Thursday- 05/29, 9:45AM
Eastern Pacific Tropical Depression 1-E has been named as Tropical Storm Alma.
Update - Thursday- 05/29, 7:45AM
The first Tropical Depression of the Eastern Pacific hurricane season has formed, it is forecast to become a tropical storm (Alma) before making landfall in western Nicaragua. Flhurricane is primarily an Atlantic Basin Site, please the National Hurricane Center for more information on Eastern Pacific Tropical Depression 1-E.

Update - Friday - 05/23, Noon (EDST)
As the 'official' start of the season approaches, the basin remains on the quiet side. Easterly waves have started their development over tropical Africa and fall apart as they exit into the still cool waters of the eastern tropical Atlantic. The ITCZ remains at low latitude (about 3N to 5N) and a strong shear zone exists in the central subtropical and tropical northern Atlantic between two upper level ridges.

The GFS model continues to suggest long term development in the far western Caribbean Sea east of Belize and north of Honduras - but nothing really there at the moment. Its just an interesting area at his time of year to keep a casual eye on. See the excellent post below by dem05 for more on this.
ED

******************************

Now that the East Pacific Hurricane Season is underway, we gear up for the Atlantic June 1st. With that the NOAA has released today their 2008 Atlantic Basin tropical climate assessment.
Near Normal or Above Normal Atlantic Hurricane Season and explanation can be found here.

*****************************************************************
May 15th, today, is the first day of the East Pacific Hurricane Season. It predates the Atlantic one by 15 days. The Atlantic Hurricane season will begin on June 1st.

There is nothing worth note in the Eastern Pacific right now, however. This site rarely talks about East Pacfiic systems (or other basins) but instead focuses on the Atlantic systems.

That said it wouldn't be possible to mention Tropical Cyclone Nargis that made landfall in Myanmar on May 4th/5th, a borderline category 3/4 storm when it hit, it killed 10s of thousands, mostly due to lack of warning. (In the local newspaper there there was a minor mention of it two days before, with "50 MPH" winds and a lot of rain as the only thing mentioned) A catastrophic political communications failure greatly contributed to the deaths there.
A discussion on the system can be found here.

Back home, last years retired names round up is: Dean, a Category 5 that made landfall in the Yucatan. Felix, yet another category 5 that made landfall in northern Honduras (First time recorded that two category 5 systems made landfall as category 5's in one year), and Noel, which ran up the east coast and up to Nova Scotia. It made category 1 hurricane strength in the Northwestern Bahamas. It's impact on deaths in Haiti (around 150) and other parts of the Caribbean contributed (Map of Dean, Felix and Noel)

We'll be ready for the coming season with more news updates and commentary as we watch the Atlantic Basin. I expect another somewhat active year.