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REVIEW | 2011-2012


2011-2012: FEELING THE FORCE


The specialised transportation sector began to really feel the impact of the recession in 2011 and 2012, as political and economic uncertainty grew and a number of large developments shocked the heavy lift shipping market.


I


n the May/June 2011 edition of HLPFI, we wrote that the industry was “finally feeling the force of the 2008 global


recession”, while we also witnessed the demise of Beluga Shipping in March 2011 and the aftermath of the “disturbing events” at the German shipping company. The comment in HLPFI’s


July/August 2011 issue also summed up some of the key global events affecting the project logistics industry during the year, including “wars and revolts in the Middle East in the shadow of the so-called Arab Spring”; populations in the Horn of Africa “staring famine in the face”; the “threat of another euro finance emergency”; and share price falls in Asia and the USA. In November/December 2011, HLPFI described the heavy lift and project forwarding market as “at best jittery, at worst shrinking or stalled”. While the industry endured a restless


couple of years in 2011 and 2012, there was no lack of news and developments to report on. We saw Safmarine set up a newly structured multipurpose department; BBC


Chartering ink a joint venture agreement with Teras Cargo Transport (America); the sale of American Commercial Lines approved; the delivery of TPI Megaline’s new deck carriers –Mega Caravan and Mega Caravan II; and both Dockwise and Fairstar announce huge transportation contracts.


Scan-Trans, the demise of Jade Cargo and the birth of Hansa Heavy Lift. Compliance gained greater significance


as new laws were being discussed to address the issue. HLPFI stated in 2012: “As rules and regulations tighten around compliance, it is becoming increasingly important that we are all 100 percent on that front, and that so are our suppliers. In our brave new compliant world, there will be no room for the ‘special handling fee’.” The industry, reeling


from a variety of factors outside of its control, continued to surprise, with “K” Line taking 100 percent ownership of SAL, which put its two new vessels – Svenja and Lone – into operation; Harren & Partner and Goldman


As concerns about security increased and


the bankruptcy of Beluga drew attention to the financial stability of multipurpose ship operators, we witnessed some of the most signifiant events in the industry’s history across 2011 and 2012, including the takeover of Fairstar by its bigger rival Dockwise, the merger of Intermarine and


Sachs investing in Offshore Installation Group (OIG), which subsequently took delivery of two Combi Lift ships; RollDock Shipping receiving its new semi- submersible vessel, RollDock Sea; Rickmers forming a joint venture with Maersk in the USA; and Harren & Partner creating the Sumo Shipping joint venture in partnership


March 2011: Beluga Shipping files for bankruptcy March 2011: Fukushima Daiichi nuclear disaster in Japan 38 | HLPFI10


July 2011: South Sudan becomes world’s newest country


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