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Thursday, June 20, 2019

Real Estate News

Engine Room Wall (Photo: Advanced Mechanical Enterprises)

'Sea the World' Reveal At Huizenga Center

South Florida’s marine industry is a $12 billion/year economic engine that provides the region with 142,000 careers and jobs. With an aging workforce and a unique skill set, the maritime community is facing a workforce that’s aging out with skilled labor being very hard to find. To assist, Advanced Mechanical Enterprises/AMESOLUTIONS.COM, and 23 marine industry companies have joined forces with Junior Achievement of South Florida.On May 1, 2019, Junior Achievement of South Florida will unveil the Marine Industry Storefront…

Pic: Port of Oakland

Port of Oakland Generates 84,000 Jobs

Californian Port of Oakland supports 84,144 jobs in the Bay Area and 20 percent of those jobs are Oakland-based, according to an economic impact study.The study by Martin Associates shows that the Port’s overall economic value—from business revenue, consumer spending, and total value of goods and services—tops $130 billion. The Port and its tenants also contribute $698 million in state/local taxes.The Port said the study shows that growth in its three businesses—Commercial Real Estate…

File Image / CREDIT: Port of Oakland

Port of Oakland: 84K Bay Area Jobs Generated

The Port of Oakland supports 84,144 jobs in the Bay Area and 20 percent of those jobs are Oakland-based, according to an economic impact study released today. The study by Martin Associates shows that the Port’s overall economic value—from business revenue, consumer spending, and total value of goods and services—tops $130 billion. The Port and its tenants also contribute $698 million in state/local taxes.The Port said the study shows that growth in its three businesses—Commercial Real Estate…

Pic: Hammonia Reederei

Peter Döhle Sells Hammonia Reederei

Hamburg-based provider of shipping services Peter Döhle and Ernst Russ are selling ship management company Hammonia Reederei  to  Scandinavian investors, Ness Risan and Partners (NRP), a Norwegian investment fund and former owners of Containerships Group, Finland.With the transaction, Ernst Russ follows its strategy and further focuses on activities in asset investment and asset management in shipping and real estate, said a release from Ernst Russ AG, a listed asset and investment management company in Germany with a focus on maritime business.Prospectively…

Inland Port Development: Take the train

The intermodal equation for any deep draft port is incomplete without its inland component.It’s definitely a work in progress.There are inland ports in the truest sense: major lakefront and riverfront cities such as Chicago and St. Louis, including even Duluth and Tulsa, with vast distribution areas, wildly varying cargo, roads, trains and waterways to serve them.And, then, there are inland ports, dry ports that have vast distribution areas, containerized cargo delivered from true oceanfront ports…

Photo: Port of Oakland

Fitch Affirms Port of Oakland at 'A+'

Fitch Affirms Port of Oakland, CA's Sr. Revs, Intermediate Revs and Bank Bonds Underlying CP Notes.Fitch Ratings has affirmed the following Port of Oakland, CA bonds:$637 million of senior lien revenue bonds at 'A+';$218 million of intermediate lien revenue bonds at 'A';Underlying bank bonds for the port's commercial paper (CP) notes at 'A'.The Rating Outlook on all of the bonds is Stable.Key Rating DriversThe ratings reflect diverse revenues from the port's aviation, maritime, and Commercial Real Estate (CRE) operations.

National Geographic Venture 1 (Photo: Inmarsat)

Fleet Xpress on New National Geographic Ship

Inmarsat was chosen to provide connectivity through Fleet Xpress for Lindblad Expeditions-National Geographic’s new adventure cruise ship, National Geographic Venture.The expedition ship, designed to explore the coastal waters, shallow coves and fast-moving channels where wildlife congregates, completed its first cruise around the Galapagos Islands in December 2018 before moving to Baja California. It is also destined for the Pacific North West coast and Alaskan cruising in the next few months.Built by Nichols Brothers…

Georgia Ports Authority / Stephen B. Morton

GPA: Six 14,000-TEU Vessels Simultaneously

Georgia Ports Authority Executive Director Griff Lynch unveiled GPA's Big Berth/Big Ship program that will allow the Port of Savannah to simultaneously handle six 14,000 TEU vessels by 2024."No other single container terminal in North America has the ability to expand berth capacity at this rate," said Lynch. Currently, Savannah's Garden City Terminal is equipped to handle two of these vessels and by April of this year that number will increase to three.During his presentation…

Maritime Director John Driscoll (Photo: Port of Oakland)

Port of Oakland: 'Trade Outlook Hazy'

A Port of Oakland official said this week that his organization wants growth in 2019 so customers and communities can benefit. Maritime Director John Driscoll acknowledged, however, that it’s too soon to know how freight markets will respond.“The container shipping sector starts the year with uncertainty due to global trade conflicts,” Mr. Driscoll told 170 guests at Oakland’s annual State of the Port address yesterday. “Nevertheless, the Port of Oakland remains committed to a growth strategy that provides efficient cargo movement for shippers…

A rendering of Georgia's inland port design (CREDIT: GA Ports)

Georgia Announces New Inland Terminal

Northeast Georgia Inland Port to serve fast-growing Gainesville region. Gov. Nathan Deal speaks during the announcement for the Georgia Ports Authority's new inland terminal, Monday, Dec. 3, 2018, in Gainesville, Ga. Cargo moved via the Northeast Georgia Inland Port near Gainesville will reduce Atlanta truck traffic by shifting containers to rail. Set to open in 2021, the new inland port will be operated by the Georgia Ports Authority and served by Norfolk Southern.Gov. Nathan Deal…

Jens Valdemar Krenchel. Photo: Danish Shipping

New EU Secretary Director for Danish Shipping

On 1 January 2019, Jens Valdemar Krenchel will take up the position as Head of EU Representation for Danish Shipping at the  the EU office in Brussels, where Danish Shipping has been represented since 1989.At the same time, he will join the management team of Danish Shipping as Head of the organisation's EU Representation, which employs a team of four. He takes over from Casper Andersen, who has left Danish Shipping."I am pleased to welcome Jens in The Blue Denmark. Jens is a capacity with considerable insights into EU relations. Jens will be a strong voice for Danish shipping in Brussels.

Image: Port of Oakland

Yui Hay Lee is New Port of Oakland Commissioner

Longtime business and civic leader Yui Hay Lee has joined the Port of Oakland’s Board of Port Commissioners. Lee was sworn in yesterday to a seat on the seven-member Board.Lee, President and CEO of Oakland-based YHLA Architects, was nominated by Oakland Mayor Libby Schaaf and appointed by the City Council. He replaces eight-year Board veteran Alan Yee, whose latest term expired.“We’re delighted to welcome Yui Hay Lee to our Board,” said President Ces Butner. “He brings a strong business background…

Yui Hay Lee (Photo: Port of Oakland)

Lee Joins Port of Oakland Commissioner Board

Business and civic leader Yui Hay Lee has joined the Port of Oakland’s Board of Port Commissioners.Lee, President and CEO of Oakland-based YHLA Architects, was nominated by Oakland Mayor Libby Schaaf and appointed by the City Council. He was sworn in yesterday to a seat on the seven-member Board, replacing eight-year Board veteran Alan Yee, whose latest term expired.Lee founded his architectural firm in 1980. He served as a Commissioner on the Oakland/Alameda County Coliseum Authority from 2007-2018. Lee was a member of the Oakland Landmarks Preservation Advisory Board under Mayor Jerry Brown.

© chungking / Adobe Stock

US Tariffs Loom at China's Biggest Trade Fair

Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China's largest trade fair Monday.Many of those exporters will have something in common - uncertainty over future U.S. orders as a trade war with the United States rages. The turmoil has added to concerns over the health of the Chinese economy, already under pressure from a cooling property market…

Boskalis Nominates van Noort as New CFO

Royal Boskalis Westminster N.V. has nominated Carlo van Noort to be appointed as Chief Financial Officer (CFO) of Boskalis at the Annual General Meeting of Shareholders (AGM) in May 2019. The term of the current CFO, Hans Kamps, expires on the date of that same AGM.van Noort is currently financial director of Boskalis Nederland. He has held various finance positions within the three divisions of the Group over the last 12 years and is currently financial director of Boskalis Nederland.

USS Somerset (LPD 25) is launched from the Avondale Shipyard in 2012. The vessel later became final Navy ship to depart from the shipyard, in February 2014. (U.S. Navy photo courtesy of Huntington Ingalls Industries)

Avondale Yard to Be Repurposed as a Multimodal Hub

The former Avondale Shipyard facility in Louisiana will be redeveloped into a logistics and intermodal hub under a joint venture group that took ownership of the shuttered shipyard today.The Avondale site, located just upriver from New Orleans, built and repaired commercial and military vessels for more than 75 years, most recently as part of Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division, until the facility ceased operations in December 2014.New development plans announced today will see the 254-acre site repurposed as a multimodal…

GPA Executive Director Griff Lynch delivers his State of the Port address Thursday, Sept. 20, 2018, in Savannah, Ga. (Photo: Georgia Ports Authority/Stephen B. Morton)

Georgia Ports plan 8 million TEU capacity by 2028

Georgia Ports Authority’s 10-year, $2.5 billion plan aims to expand the capacity of the nation's fastest growing and single largest container terminal from 5.5 million twenty-foot equivalent unit containers (TEUs) to 8 million.GPA Executive Director Griff Lynch detailed the growth plan, at the Savannah State of the Port event today. "We're preparing to redefine the Port of Savannah as not simply the load center for the Southeastern U.S., but as the port of choice for major inland markets east of the Mississippi River," he said.During his presentation to nearly 1,400 people, including Gov.

© Tom Baker / Adobe Stock

China's Steel, Iron Ore Flat Amid Trade Tensions

China's steel and iron ore prices were little changed on Tuesday as market participants turned cautious amid escalating trade tension between Washington and Beijing.On Monday, U.S. President Donald Trump decided to impose 10 percent tariffs on about $200 billion worth of Chinese imports which would be effective on Sept.24.Trump also warned of more duties on additional $267 billion of Chinese imports if Beijing takes retaliatory action."Direct impact of the trade spat on ferrous market is minor as China doesn't sell much steel products to the United States.

Neltume Ports, a subsidiary of Ultramar, operates in 16 port facilities and three stevedoring businesses primarily located in Chile and Uruguay. Photo: ATCO Ltd.

ATCO Buys 40% Stake in South American Port

Calgary-based natural gas, electrical and real estate giant ATCO is getting into the transportation business after buying a 40-per-cent stake in a South American port operator Neltume Ports for about CAD$450 million (USD$340 million).Neltume Ports, a subsidiary of Ultramar, operates in 16 port facilities and three stevedoring businesses primarily located in Chile and Uruguay. “This acquisition represents an important milestone in the execution of ATCO’s long-term strategy to diversify…

In the picture (left to right):  Robert Hildebrecht (Kalmar), Steve Cianci (Kalmar), Chris Booth (Kalmar), Mayor Keith Summey (City of North Charleston), Lynn Blanton (Landmark Enterprises), Eugene Blanton (Landmark Enterprises), Councilwoman Rhonda Jerome (City of North Charleston), Jason Ward (Landmark Enterprises). Photo: Kalmar

Kalmar to Open North American Customer Experience Center in North Charleston

Kalmar, part of Cargotec, broke ground on a Class A industrial build-to-suit project in North Charleston, S.C., with developer Landmark Enterprises on August 15, 2018. The new Customer Experience Center (CEC) will serve as a showroom, training facility, demonstration area and customer service center for Kalmar's North American mobile equipment business, including counterbalance and container handling products."The Kalmar sales team is eager to open this facility in the critical Charleston market," said Steve Cianci, Vice President, Mobile Equipment Solution Sales.

Photo: Port of Oakland

Port of Oakland to Begin Seaport Logistics Complex

A freight distribution center placing high-demand logistics capability inside a global trade gateway will soon take shape here. The Port of Oakland said today that work should begin this fall on a long-awaited Seaport Logistics Complex.The complex is envisioned as a cargo-handling campus that could change the trajectory of Port business. Currently a West Coast terminus for Transpacific trade vessels, Oakland could eventually double as a major freight distribution point.“This is our future,” said Port of Oakland Maritime Director John Driscoll.

Jyothi Mani (Photo: EMAC)

EMAC Welcomes Mani To its Case Management Team

Emirates Maritime Arbitration Centre (EMAC) appoints Jyothi Mani to its expanding Case Management team. “Jyothi brings with her a great deal of case handling experience with a detailed know how as to arbitration and mediation procedures. We maintain confidence that EMAC will deliver excellence in maritime arbitration and mediation”, said Majid Obaid bin Bashir, Acting Chairman and Secretary General, EMAC. Having been in Dubai for just short of a decade, Jyothi brings with her a wealth of case management experience from the likes of Dubai International Arbitration Centre (DIAC).

Preston Khomo (Photo: TNPA)

TNPA Focuses on Ship Repair

Transnet National Ports Authority (TNPA) appointed Preston Khomo, previously Richards Bay Port Manager, as Executive Manager: Ship Repair, to manage and administer the organization’s ship repair resources nationally.Thamsanqa (Thami) Sithole has been appointed as the new Port Manager for Richards Bay. Both appointments are effective July 1.Khomo joined TNPA in 2004 as Head of Infrastructure Development: Port Operations and Consulting at Portcon (the then international arm of Transnet)…

John Moseley (Photo: Port Houston)

Port Houston Taps Moseley as CCO

Port Houston’s senior director of trade development John Moseley has been appointed to succeed retiring chief commercial officer Ricky Kunz.Moseley, the port’s senior director of trade development since 2010, will take the lead in developing and executing Port Houston’s commercial strategy. He is responsible for Port Houston’s real estate, trade development, economic development, marketing/external communications and media relations departments and the administration of Harris…

(left to right – Alan Winde, Minister of Economic Opportunities in the Western Cape; Jeffrey Phang, Managing Director of Saldehco; Eric Hennet, Managing Director of Altus France (back); Sophie Masipa, Chairperson of Saldehco; Siyabonga Gama, Transnet Group Chief Executive; Mlamuli Buthelezi, Transnet Group Chief Operating Officer (back); Shulami Qalinge, Transnet National Ports Authority Chief Executive; and Alderman Marius Koen, Executive Mayor of Saldanha Bay Municipality (Photo: TNPA)

Agreement Paves Way for South African Offshore Supply Base

South Africa’s first dedicated and customized facility supporting offshore oil and gas activities will be introduced at the Port of Saldanha. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Saldehco Pty Ltd, which was signed off at an official ceremony at the port on Monday, 23 April 2018.Saldehco is a privately owned South African company, comprising principal shareholder HARPS Holdings Pte Limited and local partner Semona Pty Limited.

Photo: HES International

Share Holders Okay Macquarie, Goldman Sachs to Acquire HES International

Riverstone Holdings and The Carlyle Group jointly announce that  they intend to sell HES International to a consortium of Macquarie Infrastructure and Real Assets (MIRA) & Goldman Sachs. Macquarie European Infrastructure Fund 5, which is managed by MIRA, and West Street Infrastructure Partners III (WSIP), which is managed by the Merchant Banking Division of Goldman Sachs, have reached an agreement in principle with Riverstone Holdings and The Carlyle Group to acquire HES International.