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REVIEW | 2007-2008


2007-2008: UNPRECEDENTED GROWTH


In the first of our two-year reviews, HLPFI looks back on some defining moments from 2007 and 2008, as the world began to reel from the global financial crisis.


H


LPFI published its first edition in the late autumn of 2007, when the global financial crisis had yet to kick


in and the niche heavy lift and project logistics business was still in a very buoyant condition, after years of investment in infrastructure and energy projects across the globe. As HLPFI wrote about the heavy lift and


project forwarding business in the comment to our inaugural edition, “the specialist shipping press has tended to skim over its achievements, ignoring the role it plays in the continuing industrialisation of Asia, the Middle East, Africa and South America, as well as reconstruction projects around the world.” We added that the general public also takes for granted the fact that everything, from oil and gas exploration and production, mining, industrial and economic infrastructure developments, depends on the skills and expertise of those involved in the sector. That first issue brought the news that Japanese shipping company “K” Line had purchased 50 percent of the shares in German shipping line SAL Heavy Lift from the Heinrich and Rolner families, which had owned and managed SAL since 2001. 2007 also saw BigLift Shipping sign a contract with Larsen & Toubro India for the


construction of two new vessels; Rickmers- Linie place an order for ten new multipurpose ships at Chinese yards; BBC Chartering and Clipper Elite Carriers – joint owners of Asia Project Chartering (APC) – announce a 60-strong newbuild programme for delivery over the next three years; John Fredriksen-controlled Frontline sell its stake in semi-submersible shipping specialist Dockwise; logistics provider Geodis acquire German project forwarder Rohde & Liesenfeld; Volga-Dnepr Airlines place an order for 17 newbuild AN-124 freighters following a decision to renew production of the unique aircraft; freight forwarding


network WCA Projects hold its first event in Bangkok; and logistics specialist Panalpina suspend part of its operations in Nigeria due to compliance concerns.


Markets reeling With markets reeling from the collapse of Lehman Brothers in September 2008 and the ensuing economic meltdown – considered by many to be the worst financial crisis to strike the world since the 1930s – the project logistics business continued to evade the worst of the downturn in 2008. One year on, HLPFI wrote in the


January 2007: Apple releases the iPhone


November 2007: HLPFI launched


22/10/07 13:34 Page 1 July 2007: Final Harry Potter book published 8 | HLPFI10


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