News Breakbulk & Project Cargo
Broader project mix
Baker Hughes expects the spike in global demand for oil and gas to accompany an already full slate of projects in multiple sectors.
The war has significantly obstructed global LNG markets, with 20 % of worldwide LNG capacity now offline, CEO Lorenzo Simonelli said during the company’ s April 24 first-quarter earnings call.
“ The recent infrastructure damage in the region and the effective closure of the Strait of Hormuz have materially constrained the LNG market’ s ability to respond to growing demand, likely to result in a supply shortfall this year,” he said.
Baker Hughes’ earnings jumped 14 % year over year in the first quarter, while project orders surged 26 %, driven by industrial and energy technology projects and power systems, including equipment to support data centers.“ Global power demand is in a multi-year growth cycle, and it’ s important to remember we’ re only in the early stages,” Simonelli said, citing projections that power demand will double by 2040, driven by factors such as data centers, digital infrastructure expansion, and industrial energy transition projects.
email: autumn @ autumngiusti. com
Policy blowback
US onshore wind halt latest headwind for project cargo
By Autumn Cafiero Giusti
Wind project cargo activity is facing yet another setback after over 150 onshore wind developments in the US were put on hold by the Trump administration. Citing national security concerns, the Department of Defense stalled approvals for about 165 onshore wind projects located on private lands, the administration’ s latest push against wind energy development.
The inactivity could have repercussions for the breakbulk sector, as the wind industry represents an important source of project cargo. The lion’ s share of those shipments www. joc. com June 2026 | Journal of Commerce 19