Latest news from Heavy Lift & Project Forwarding International Magazine

GAC Group to support oil operations following investment boost

June 7 - GAC has enjoyed a strategic investment from IFC, a member of the World Bank Group, that allows the forwarder to acquire new ships to support offshore oil operations in a number of emerging markets.

The USD35 million loan to GAC will finance the group's purchase of up to six supply ships to support offshore oil rigs. Three will operate in Kazakhstan, while the others will operate in Africa and the Middle East. 

Erland Ebbersten, GAC Group vice president for Europe, Africa, Mediterranean, Black and Caspian Sea, said: "GAC's expansion underlines the group's commitment to the Caspian region. We believe we can contribute significantly to development of the energy infrastructure in the Caspian, and we welcome IFC's support in making this meaningful task possible for us."

Kazakhstan has been unable to exploit its large reserves of oil and gas largely because of a lack of infrastructure, support services, and equipment. Financing for new ships and equipment has been difficult in the country and the wider region, as entry and exit costs are high, because the only route out of the area is frozen for up to six months of the year. The global financial crisis has exacerbated this challenge.

Heavy Lift | News

ESTA joins EC best practice project thumbnail image

ESTA joins EC best practice project

July 16 - The European association of abnormal road transport and mobile cranes (ESTA) has been asked to support a European Commission study to “explore health, safety and environment (HSE) best practice in the wind power sector”.
Views: 375
LDA installs kite system  thumbnail image

LDA installs kite system 

July 16 - Louis Dreyfus Armateurs (LDA) has fitted its ro-ro vessel Ville de Bordeaux with an AirSeas kite system, as it looks to develop the use of wind propulsion technologies.
Views: 354
Sarens partners with Moir Crane thumbnail image

Sarens partners with Moir Crane

July 16 - Sarens has teamed up with Canada’s Moir Crane as the two companies look to capitalise on the region’s upcoming construction projects.
Views: 387
Karl Gross teams up with Natco thumbnail image

Karl Gross teams up with Natco

July 15 - Bremen-headquartered Karl Gross Group and Natco SA have formed an exclusive partnership in South Africa.
Views: 548

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