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REVIEW | 2013-2014


“Piracy on the high seas continued to threaten the


world’s trade lanes at a time when an ever-increasing size and weight of shipments was noted in many quarters.”


HLPFI (in 2013)


had not completely stalled. Nordana signed contracts for the construction of four 12,000 dwt multipurpose heavy lift vessels; Messina Shipping Group took delivery of Jolly Quarzo; Rickmers-Linie added a new multipurpose heavy lift vessel to its fleet - the 19,100 dwt Pacific Winter; while in September, Jumbo launched its first new K3000 class vessel - named Jumbo Kinetic - at the Brodosplit shipyard in Croatia. RollDock took delivery of RollDock Star


from Flensburger-Schiffbau-Gesellschaft (FSG) in 2013, while the year also marked the delivery of the world’s largest semi- submersible vessel, Dockwise Vanguard. In 2014, we saw the first steel cut for


BigRoll Shipping’s new 21,000-dwt module carrier BigRoll Barentsz, and for two PC-3 module carriers that were ordered by ZPMC- Red Box Energy Services – marking the return of ex-Fairstar executive Philip Adkins to the heavy lift shipping arena. At the end of 2013, a new heavy lift shipping company - Ocean7 Projects - entered the fray. Meanwhile, Panalpina entered into a preliminary agreement to settle a US antitrust class action, alleging anticompetitive industry practices. Other major business deals witnessed in 2013 included BNSF Logistics acquiring Canada-based Albacor Shipping, while on the equipment side, we saw Mammoet and


Scheuerle sign their largest-ever deal for 650 axle-lines of self-propelled modular transporters (SPMTs). 2013 saw the sad passing of SAL Heavy


Lift founder, Hans Heinrich, one of the stalwarts of the sector, as well as the tragic murder of Jan Sarens, a board director at Sarens Group.


Newbuild deliveries Meanwhile, the Ferus Smit shipyard launched the 23,300 dwt multipurpose ship Reggeborg for delivery to Wagenborg Shipping; while members of the Shah Deniz consortium – which include BP, Statoil, SOCAR, Total, Lukoil, NIOC and TPAO – struck a deal for the Stage 2 development of the Shah Deniz gasfield in the Caspian Sea, some 70 km offshore Baku, Azerbaijan. The harsh realities of the market


downturn were manifesting themselves with increasing frequency as 2014 progressed. In May, details emerged painting a truly stark image of the shipping sector. Germany’s HSH Nordbank, one of the world’s largest maritime lenders with huge exposure to the shipping sector, lost EUR814 million (USD1.13 billion) during its 2013 financial year. It was the heaviest loss the Hamburg/Kiel-based bank had suffered since the financial crisis of 2008. At the same time, a new heavy lift pool –


BHS Pool Weser – was founded by shipping companies, Briese and Harren & Partner, which consisted of 15 ships managed by the respectively connected affreightment companies BBC Chartering and Combi Lift. Elsewhere, another joint shipping pool operation was formed by Saga Forest Carriers International and Westfal-Larsen Shipping - Saga Welco; while we saw the discontinuation of the Maersk-Rickmers US-Flag Project Carrier joint venture. Just over two months since it filed for


creditor protection, Zeebrugge-based heavy lift and multipurpose shipping line OXL remained confident that it would meet the May deadline set by the Belgian court to restructure its business and satisfy creditors that it is a credible ongoing concern. In the mergers and acquisitions arena,


UK- headquartered ALE Heavy Lift acquired the majority of shares in ECR Group; UTC Overseas and Almajdouie Logistics Company signed an exclusive agency joint venture agreement; China Navigation Company (CNCo) inked an agreement to acquire Pacifica Shipping from Skeggs Group; Mammoet Europe expressed its intention to sell a large part of its maritime fleet to Hebo Maritiemservice; and Danish company J Poulsen Shipping joined forces with the HBC Group based in Singapore and Hamburg.


March 2014: Malaysia Airlines flight 370 disappears March 2014: Ebola outbreak reported December 2014: Oil price falls by more than 40 percent HLPFI10 | 53


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