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.

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ESTA joins EC best practise project thumbnail image

ESTA joins EC best practise project

July 16 - The European association of abnormal road transport and mobile cranes (ESTA) has been asked to support a European Commission study to “explore health, safety and environment (HSE) best practise in the wind power sector”.
Views: 100
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LDA installs kite system 

July 16 - Louis Dreyfus Armateurs (LDA) has fitted its ro-ro vessel Ville de Bordeaux with an AirSeas kite system, as it looks to develop the use of wind propulsion technologies.
Views: 214
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Sarens partners with Moir Crane

July 16 - Sarens has teamed up with Canada’s Moir Crane as the two companies look to capitalise on the region’s upcoming construction projects.
Views: 216
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Karl Gross teams up with Natco

July 15 - Bremen-headquartered Karl Gross Group and Natco SA have formed an exclusive partnership in South Africa.
Views: 406

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