Latest news from Heavy Lift & Project Forwarding International Magazine

TBS International swings to Q1 loss

May 8 - In its first quarter results, TBS International swung to loss, hurt by a drop in freight rates, sending its shares down as much as 18 percent.

For the first quarter, the company posted a loss of USD21.2 million, compared with a profit of USD45.4 million, one year ago.

Revenues fell about 46 percent to USD71.2 million. Quarterly time charter revenue fell 81 percent to USD6.2 million, while average daily voyage time charter equivalent fell 59 percent to USD11,685 per day.

Late last year, TBS took delivery of Zia Belle, expanding its fleet to 47 vessels. It was TBS's first tweendecker with heavy lift gear and helps the company to meet the shipping needs of clients engaged in energy, mining, steel, construction, and infrastructure development projects.

Heavy Lift | News

Zeaborn to take full control of Zeamarine thumbnail image

Zeaborn to take full control of Zeamarine

April 18 - The Zeaborn Group has signed an agreement to acquire the remaining shares in Zeamarine – the joint venture with Intermarine that was established in May 2018.
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Panalpina improves profitability thumbnail image

Panalpina improves profitability

April 18 - In the first three months of 2019, Panalpina boosted its profitability by 15 percent compared to the same period of last year.
Views: 240
Wallem sets out strategy change thumbnail image

Wallem sets out strategy change

April 18 - Wallem has rebranded its corporate identity to reflect the company’s updated strategy and service offering. 
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