Transportation Barge News

China shipbuilder and repairer COSCO group in its financial report for year ending 31, December 2013, informs that operating conditions for most of 2013 continued to be difficult. The Group’s turnover was $3.5 billion, lower by 6% from $3.7 billion for the year before. Excerpts from chairman Mr. "Gross profit amounted to $321 million, from $485 million in 2012. Net profit attributable to shareholders was $30.6 million, a decline of 71%. Diluted earnings per share was 1.4 cents. Group net asset value per ordinary share as at 31 December 2013 was 59.7 cents.

After two years of collaboration with Fairmount Marine BV, Louis Dreyfus Armateurs has strengthened its services to the offshore industry through the acquisition of Fairmount, a Dutch company. the acquisition of Fairmount Marine. For two years, since the common operation of the Gavea Lifter semi-submersible heavy transportation barge, the two companies have learned to work together. Louis Dreyfus Armateurs decided to acquire Fairmount to develop the company in the longer term. Ocean towage is a promising market and LDA excels in developing niche sectors and added value. A global ocean towage specialist, Fairmount was established 30 years ago by Mr Henk J. van den Berg.