FAIRSTAR leads off-shore heavy transport industry with record profit |
| February 12, 2010 |
Fairstar Heavy Transport (FAIR) today announced record profits of USD 12.4 million after posting its 2009 year-end results. Total revenue of USD 50.7 million and EBITDA of USD 24.3 million, based on total fleet utilisation of 81% contributed to a solid year end for Fairstar.
Mark de Haas, CFO, highlighted the announcement commenting: "Our shareholders deserve to be rewarded for their patience and support over the last three years. FJORD and FJELL now both operate as the two newest vessels in the global heavy transport fleet. 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 thousand 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 and Fairstar will establish itself as the leading provider of high value transportation solutions." |
| FAIRSTAR releases first Half Year Financials and fleet update |
| July 22, 2010 |
| Fairstar Heavy Transport NV (FAIR) announced a decline in top line revenue as well as earnings for the first six months of 2010. Time Charter Revenues of USD 15.9 million realised EBITDA of USD 8.9 million for the Half Year. The company’s financial posi ›› |
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| FAIRSTAR subscription period for issue closed |
| July 20, 2010 |
| As described in the prospectus dated 29 June 2010 in relation to the subsequent share issue in Fairstar Heavy Transport NV ("FAIR"), the subscription period closed on Monday 19 July 2010. Eligible shareholders subscribed for 284,004 shares at a price of N ›› |
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