Latest news from Heavy Lift & Project Forwarding International Magazine

'Difficult times' for Grieg Star

April 19 - Grieg Star states that its open hatch shipping business delivered better results than expected in 2015, posting a loss of USD7 million.

With impairments and loss provisions, the bulk division delivered a total loss of USD48 million.

Overall Grieg Star posted a decline in sales to USD529 million and an operating result before tax of USD -59 million, compared with USD -1 million in 2014.

"The organisation has worked well throughout the year, which is reflected in reduced operating costs and good income growth compared to the market," said Grieg Star ceo Camilla Grieg. "The result nevertheless reflects the difficult times in the industry."

According to Grieg Star, the decrease in revenue is mainly related to lower rates but also to lower activity, which has led to a reduction in operating costs. The company also experienced a loss of USD5 million on its financial investments in 2015.

"The bulk market will stay weak for some time yet, but our performance in 2015 and the beginning of 2016 prove we remain a strong operator in our business," said Grieg.

 

www.griegstar.com

Heavy Lift | News

Sims Crane appoints Lester thumbnail image

Sims Crane appoints Lester

July 19 - Florida’s Sims Crane & Equipment has named Jared Lester as its business development manager. 
Views: 302
ITI and FHS to open Florida training centre thumbnail image

ITI and FHS to open Florida training centre

July 19 - Florida Handling Systems (FHS), a Mazzella Company, and Industrial Training International (ITI) have confirmed that they will develop a training centre in Bartow, Florida.
Views: 345

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.