Ritchie reports large equipment price hikes
Ritchie Bros.’ September Market Trends Report released this morning shows substantial price hikes across all its equipment indexes, with aerial equipment prices up 17 per cent in Canada, while medium earthmoving and truck tractors are up 28 per cent and 14 per cent respectively for the three months ending Aug. 31. Large earthmoving vehicles were up eight per cent.
Ida damages Shell Offshore facilities
Shell Offshore Inc., a subsidiary of Royal Dutch Shell, today announced it has conducted a comprehensive damage assessment of its West Delta-143 offshore facilities in the Gulf of Mexico from Hurricane Ida and found significant structural damage. As a result, the WD-143 “A” platform facilities will be offline for repairs until the end of 2021, and the facilities on its WD-143 “C” platform will be operational in Q4 2021. Shell announced it is expected to resume production from its Olympus platform, which flows across the WD-143 “C” platform, in Q4 2021 among other mitigating moves.
New Westminster joins B.C.’s tall wood initiative
The City of New Westminster, B.C. is joining the province’s Tall Wood Initiative which allows for the construction of 12-storey mass timber buildings. Twenty-one communities are now participating in the initiative. Along with the City of Vancouver, which has a similar initiative, 59 per cent of 2020 housing starts in the province are represented in these communities, up from 57 per cent.