Latest news from Heavy Lift & Project Forwarding International Magazine

Decline in heavy lift activity lowers Tiong Woon results

November 15 - Singapore-based Tiong Woon Corporation Holding has cited lower revenue contributions from its heavy lift and haulage, fabrication and engineering, marine transportation and trading segments as a factor in lower results for its 2010-2011 firs

The group saw a lower turnover of SGD28.8 million (USD22 million) from SGD44.8 million (USD34.2 million), mainly because of lower revenue contributions from its heavylift and trading segments. With lower turnover, higher depreciation charges and expenses for scheduled maintenance, the group's profit after tax declined compared to the SGD6.1 million (USD4.6 million) it made in the previous corresponding period.

The group is seeing a rise in project inquiries for heavy lifting services at present as its heavy lift and haulage segment contributed SGD23.1 million (USD17.6 million) to total turnover, compared to SGD29.2 million (USD22.3 million) in the corresponding period a year ago, as it undertook fewer integrated projects. 

Heavy Lift | News

Decarbonising shipping comes at a USD1 tn cost thumbnail image

Decarbonising shipping comes at a USD1 tn cost

January 22 - At least USD1 trillion of capital investment in land-based and ship-related infrastructure is required to reach the 2050 goal of reducing shipping’s greenhouse gas emissions by 50 percent of 2008 levels.
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Blue Water opens office in Guyana thumbnail image

Blue Water opens office in Guyana

January 21 - Blue Water Shipping has opened an office in Guyana in order to offer support to the country’s oil industry.
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