Latest news from Heavy Lift & Project Forwarding International Magazine

Staff shortages drive longer project life cycles

October 3 - The length of capital expenditure (capex) project life cycles - from initial definition and funding authorisation, through to detailed engineering, procurement of materials, components, transport and logistics services, and construction - has

Speaking at the recent Breakbulk Americas conference in Houston, Texas, Phyllis Kulkarni, North American director for Independent Project Analysis (IPA), says the average time to complete detailed engineering for projects in the USD150 million capitalisation range has grown from 14 to 20 months on average.

IPA studies find such slippage is common in today's capex market, regardless of project cost and scope.

One factor she cited was: "A retirement of the baby boom generation of middle managers has created a shortage of the skilled and experienced people who oversee and push forward the critical design engineering stage of project development. Delays here then ripple through to procurement, transportation and construction."

Speakers on the shippers' panel at the event also alluded to staff shortages and the growing difficulty of keeping talented professionals in the project logistics market.

Some of the panellists suggested that many young executives were choosing to follow career paths in the pharmaceutical, automotive or e-commerce industries, due to harsh market conditions in the project sector.

Heavy Lift | News

West P&I to acquire NMI stake thumbnail image

West P&I to acquire NMI stake

February 24 - West of England P&I Club has signed an agreement to acquire a significant stake in Nordic Marine Insurance (NMI).
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Fitzgerald returns to Crowley  thumbnail image

Fitzgerald returns to Crowley 

February 21 - Crowley Maritime Corporation has appointed Ray Fitzgerald as its chief operating officer, effective March 1. 
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KENC completes engineering scope for Jumbo thumbnail image

KENC completes engineering scope for Jumbo

February 21 - The Netherlands-based KENC Engineering has collaborated with Jumbo to prepare the heavy lift vessel Fairplayer for an FPSO installation project offshore Brazil. 
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