Latest news from Heavy Lift & Project Forwarding International Magazine

TBS International reports bullish Q3 and nine months 2010 financial results

November 10 - TBS International has revealed financial and operating results for the three and nine months ended September 30, 2010, a period that saw TBS take delivery of Montauk Maiden, the third in the series of six Roymar class, 34,000 dwt multipurpos

This series of ships was ordered from China Communications Construction CompanyNantong Yahua Shipbuilding Group Co for a purchase price of USD 35.4 million each.

For the third quarter ended September 30, 2010, total revenues were USD 99.8 million, an increase of 34.3 percent compared to total revenues of USD 74.3 million for the same period in 2009. Net loss for the third quarter 2010 was USD 10.4 million, after loss attributable to the non-controlling interests, which is an improvement of 42.5 percent compared to an USD 18.1 million loss for the same period in 2009.

For the nine months ended September 30, 2010, total revenues were USD 311.1 million, an increase of 42.9 percent compared to the USD 217.7 million for the same period 2009. Net loss for the nine months 2010 was USD 27.9 million, after loss attributable to the non-controlling interests, which is an improvement of 50.4 percent compared to a loss of USD 56.3 million for the same period in 2009. 

Heavy Lift | News

West P&I to acquire NMI stake thumbnail image

West P&I to acquire NMI stake

February 24 - West of England P&I Club has signed an agreement to acquire a significant stake in Nordic Marine Insurance (NMI).
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Fitzgerald returns to Crowley  thumbnail image

Fitzgerald returns to Crowley 

February 21 - Crowley Maritime Corporation has appointed Ray Fitzgerald as its chief operating officer, effective March 1. 
Views: 577
KENC completes engineering scope for Jumbo thumbnail image

KENC completes engineering scope for Jumbo

February 21 - The Netherlands-based KENC Engineering has collaborated with Jumbo to prepare the heavy lift vessel Fairplayer for an FPSO installation project offshore Brazil. 
Views: 502

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