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COMMENT


Send all news and press releases to: Email: editorial@heavyliftpfi.com


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Fundamentals falling into place


year-over-year in 2018. The sanguinity did not stop there. Civil engineering contractors reported a strong 2017 – although regional variations in terms of new project awards and patchy financing still burden the sector. The prospects from a project logistics standpoint are detailed inside (pp48-55).


I Many have continued to champion the strength and ongoing potential of the renewable energy


industry. Egypt and Saudi Arabia have emerged as renewable hotspots, while major offshore wind projects have been approved – notably in Europe and Taiwan.


While renewables may hog the headlines, its non-renewable counterpart still dwarfs its ‘green’ rival in terms of overall size and by individual project scope. The current prospects for coal, gas, oil and nuclear-fired power plants, driven by the world’s insatiable need for electricity, are detailed in our dedicated report on pp125-130.


Meanwhile, there also appears to be light at the end of the tunnel for the operators and owners of ships used in the multipurpose and heavy lift shipping sector. I encourage you to take a look at our ships and shipping lines supplement published alongside this bumper edition of HLPFI. Also herein, a light is shone on the potential of Mexico’s project logistics market (pp36-45) as the


country’s energy reforms and anti-corruption drives take shape; the latest equipment from manufacturers of heavy-duty trailers is reviewed (pp146-151); while the potential of smart contracts to revolutionise the project logistics supply chain is analysed in our blockchain technology article starting on pp115. The fundamentals for growth for those moving heavy and oversize cargoes appear to be falling into place. However, the champagne is most certainly on ice. Those involved in this sector are acutely aware how damaging the breakdown of geopolitical relationships can be on the project logistics business. Fraught relations between two of the world’s largest economies, China and the USA, have seen protectionist policies brought into play. Tensions are being stoked in the Middle East; the power games being played out in Syria and US President Donald Trump’s decision to re-impose sanctions against Iran serve as a reminder that the best laid plans often go awry.


David Kershaw Editor, HLPFI


n the days leading up to this issue of HLPFI going to press, oil prices hit their highest level for three years. Rystad Energy forecasted that some 100 new offshore oil and gas projects would be sanctioned in 2018 – representing some USD100 billion of capital outlay. Meanwhile, the World Bank suggested that commodity prices could rally and increase by 20 percent


Our front cover shows Beluga Projects Logistic successfully towing the jack-up offshore platform Amazon – weighing 6,900 tonnes – from the sea checkpoint of the Caucasus to the sea checkpoint at Sabetta, on behalf of its customer Gazprom Flot.


www.heavyliftpfi.com


May/June 2018


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