Check out some interesting global headlines around the construction and heavy equipment industry as we close out the month of June.
"As the auctioneer's megaphone faded off in the distance, Cody Baker and Matthew Boykin had wandered far out to the edge of a 130-acre gravel lot to check out a row of man-lifts, the crawlers with big arms that elevate workers to high places. They hoisted hoods in the hot sun, poked at wiring, peered underneath to check for oil leaks, trying to find a few worth taking back to Midland to put to work in the oil fields." Read more
"Strong gains reported for public works, power plants, and multifamily housing." Read more
"The Brexit vote was obviously a decisive turning point for global financial markets in all respects, but one particular consequence worth noting is the divergence between gold and other commodities. In the post-Brexit world, the gold bull market is set to continue upward, but the recovery of industrial and other commodities since February is now in jeopardy. Expectations of a stagnant global economy or an outright recession have dramatically increased." Read more
"Pressure on the heavy equipment industry still lingers. The plummeting demand for heavy equipment has resulted in a steep decrease in sales. In the first quarter of 2016, sales in almost in all sectors recorded negative growth with the exception of the construction sector." Read more
"Saying that shipping coal through West Oakland, California is a health hazard, Mayor Libby Schaaf and Councilman Dan Kalb have proposed a city amendment banning the shipping, handling and storing of coal and petroleum coke in the city. The project's city approval in 2012 allowed for any federally mandated bulk commodities to be shipped through the facility, including coal. Construction began in 2013 on the infrastructure and remediation work, with general contractors including Turner Construction. Work on new ground-up facilities that will transform 330 acres into two new terminals, 2 million square feet of warehouses and a recycling center is now in question." Read more