Latest news from Heavy Lift & Project Forwarding International Magazine

Heavy Lift Across the World

Entrec reports growth for Q1

Entrec reported year-on-year revenue growth of 10 percent during the first quarter of 2019, but the company’s president and ceo John Stevens said revenue fell below the company’s expectations.

“Lower customer demand to start the year across many of our operating regions, combined with a very cold February in western Canada and North Dakota caused the majority of this shortfall. However, we finished off Q1 with a strong March and anticipate our revenue and financial results will improve as 2019 progresses,” Stevens said.

“The outlook for our US business continues to be very positive as we move through 2019. Growing demand for our services in the oil and gas sector has led to both increased activity levels as well as higher customer pricing.

“Assuming oil prices can be maintained at current levels or increase further in 2019, we should continue to see higher industry activity levels that should result in further improvements in profitability.”

Entrec has also expanded its operations in the USA to include Wyoming. Stevens said that this region is also driving demand for the company’s crane and transportation services.

The company’s outlook for western Canada, meanwhile, is cautious. Low oil and natural gas prices, pipeline constraints, rising carbon taxes and increasing regulatory requirements to achieve government approvals for large industrial projects are hampering the industry’s appetite for capital expenditure.

Looking ahead to the remainder of 2019 and 2020, Entrec expects the overall industry fundamentals to improve, which could lead to higher activity levels in western Canada as the year progresses.

www.entrec.com

Heavy Lift | News

BigLift delivers the goods to Baffinland thumbnail image

BigLift delivers the goods to Baffinland

December 12 - In the north of Canada, Baffinland Iron Mines is expanding its mine at Milne Inlet. BigLift Shipping delivered vital components to support the expansion over the course of three shipments.
Views: 767
Cosdel ships to Riyadh Auction and Salon thumbnail image

Cosdel ships to Riyadh Auction and Salon

December 10 - Cosdel International Transportation, a Rock-it Cargo company, transported 447 vehicles from the USA and Canada to Saudi Arabia. The vehicles were up for sale at the Riyadh Auction and Salon during late November.
Views: 662

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.