Latest news from Heavy Lift & Project Forwarding International Magazine

Heavy lift's lion share of TWC's revenue

August 25 - Singapore-based Tiong Woon Corporation Holding (TWC) has reported that heavy lift and haulage contributed the largest share to total revenue over the last year.

TWC enjoyed a net profit after tax and non-controlling interest of USD 17.6 million on turnover of USD 109.6 million for the 12 months ended 30 June, 2010. This compares with USD 31.1 million and USD 149m in the preceding corresponding period.

Heavy lift and haulage contributed the largest share to total revenue, at 71 percent. Turnover was USD 77.6m compared to USD 95.7m previously because fewer integrated projects were undertaken by TWC in Asia Pacific. Utilisation and rental rates for its lower tonnage capacity cranes were also lower.

Commenting on the results, Ang Kah Hong, TWC's group chairman and managing director, said: "The results reflected difficult market conditions in general and this has had a dampening effect on the overall profitability of the group. However, we have a strong balance sheet and remain in a healthy cash position."

TWC is an integrated services provider for the oil and gas and petrochemicals industries and specialises in heavy lift and installation of process equipments. The company is ranked the 18th largest crane owning company worldwide

Heavy Lift | News

Consortium to develop ro-ro terminal in Port Saïd  thumbnail image

Consortium to develop ro-ro terminal in Port Saïd 

January 20 - Bolloré Transport & Logistics, Toyota Tsusho Corporation (TTC) and Nippon Yusen Kaisha (NYK) plan to invest USD150 million to develop and operate a ro-ro terminal in Port Saïd, Egypt. 
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Senior appointments at Kaleido  thumbnail image

Senior appointments at Kaleido 

January 20 - Spain-based Kaleido Logistics has appointed Xosé Martínez as its general director and Beatriz Alvarado as its sales director. 
Views: 229
MOL boosts services in Thailand thumbnail image

MOL boosts services in Thailand

January 20 - MOL Logistics Thailand (MLG Thailand) is boosting its services in the country to cover inland transport and Customs clearance.
Views: 231

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