Only the giant cruise ships sidled up against the riverbank offer any hint of what lies below Shanghai’s newest stretch of green along the Huangpu River in the resurgent North Bund district. The Shanghai Port International Cruise Terminal Development Co. Ltd. wanted its 30,000-sq-meter passenger terminal, which had its soft opening last year, to disappear below grade, except for an iconic, 4,000-sq-m observatory on stilts that resembles either a bubble, spaceship or a giant bug. The public owner, part of the Shanghai port authority, wanted the world’s first underground cruise terminal to be topped by a park. Slide Show Photo:
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.