Latest news from Heavy Lift & Project Forwarding International Magazine

TTS predicts 'improving market' for heavy lift cranes

February 18 - Marine and offshore equipment supplier TTS Group posted a turnover of NOK259 million (USD30.2 million) for its multipurpose/general cargo business in 2015, compared with NOK138 million (USD16.1 million) in 2014.

Although TTS Group recorded negative EBITDA of NOK -13 million (USD -1.5 million) for its multipurpose/general cargo segment in 2015, it showed an increase on last year's EBITDA figure of NOK -32 million (USD -3.7 million).

TTS said that costs related to the start up of the 50 percent owned TTS SCM joint venture in China contributed negatively to segment margin in 2015.

However, the company also stated that "the solid order backlog and the improving market for heavy lift cranes give prospects for higher activity and improved profitability going forward".

Overall, the group recorded full-year EBITDA of NOK89 million (USD10.3 million) in 2015, up from just NOK4 million (USD467,000) in 2014.

Although the low oil prices means that the company's offshore business is expected to remain weak, TTS Group ceo Björn Andersson said that the company sees an overall "positive market outlook" in its core business areas.

www.ttsgroup.com

Heavy Lift | News

ALP wins FLNG towage contract thumbnail image

ALP wins FLNG towage contract

February 25 - The Netherlands-headquartered ALP Maritime Services has secured towing and positioning contracts for the Coral South floating LNG (FLNG) platform, which will enter service offshore Mozambique.
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POSH lands PFLNG Dua charters thumbnail image

POSH lands PFLNG Dua charters

February 25 - Petronas has awarded PACC Offshore Services Holdings (POSH) two contracts related to the Petronas Floating Liquefied Natural Gas 2 (PFLNG Dua) project in Malaysia.
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