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 Company/ Nantong 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.
