Latest news from Heavy Lift & Project Forwarding International Magazine

Record profit for Fairstar

February 15 - Fairstar Heavy Transport achieved record profits of USD12.4 million in 2009.

Total revenue of USD 50.7 million and EBITDA of USD 24.3 million, based on total fleet utilisation of 81 percent contributed to a solid year end for Fairstar.

Mark de Haas, CFO commented: "Our shareholders deserve to be rewarded for their patience and support over the last three years. In spite of the challenging global market, FJORD and FJELL have demonstrated their value to our owners by continuing to achieve time charter revenues averaging USD 80,000 per day.

Philip Adkins, CEO, added: "The market for heavy transport services now distinguishes ships that can provide high value solutions to complex energy infrastructure logistics from those that operate in the converted tanker segment.

FJORD and FJELL are now well-established and attractive options for our demanding client base. We are confident that our profits will continue to grow."

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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