Latest news from Heavy Lift & Project Forwarding International Magazine

Canadians sail in for PD Ports

October 9 - PD Ports is to be bought by a Canadian asset management company as part of an AUD1.5bn-plus recapitalisation by Babcock & Brown Infrastructure (BBI), which has been under pressure to sell assets to reduce its debt.

Under the terms of the recapitalisation, - which is subject to shareholder agreement - Toronto-based Brookfield Asset Management will buy 100 percent of BBI's interest in PD Ports and repay GBP100m on behalf of the Teesport operator. 

In local media PD Ports is quoted as saying that it would welcome any deal that secured its long-term future, which will include increasing container capacity and gaining a foothold in the wind-farm market. Group development director Martyn Pellew is reported to have said: "It would be useful and helpful to have a more secure future. Talks about a potential sale of the business has had an unsettling effect on existing customers and prospects for business."

Earlier this year, BBI sold a 40 percent stake in Luxembourg-based Euroports. The proceeds from the recapitalisation will be used to repay BBI's debt and simplify its capital structure and BBI said that it will change its name to Prime Infrastructure.

Heavy Lift | News

Jan De Nul secures Kriegers Flak work thumbnail image

Jan De Nul secures Kriegers Flak work

August 16 - Jan De Nul Group will transport and install 72 Siemens wind turbine generators – with a capacity of 8.4 MW each – for the Kriegers Flak offshore wind farm in Denmark.
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Pretty in pink for TGP thumbnail image

Pretty in pink for TGP

August 16 - Trans Global Projects Group (TGP) has delivered 62 modules to a mining site near Newman, Australia.
Views: 394
Trams roll to Mauritius thumbnail image

Trams roll to Mauritius

August 16 - Höegh Autoliners has transported 18 light rail vehicles (LRV) from Spain to Mauritius on its ro-ro vessel Höegh Antwerp.
Views: 398

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