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Stevedoring net climbs 5.2 percent

Stevedoring Services Ltd. says it expects that demand for construction supplies will keep a steady flow of container shipments to the Island.

Revenues for the company increased by 3.8 percent for the period ending September 30 while expenses increased by 3.5 percent resulting in a more favourable net income figure, showing an increase of 5.2 percent. ?Indications are that the coming six months will not see any major fluctuations in cargo flow and the company?s performance should continue to consistent with prior years,? CEO Kenneth Joaquin said.

?The construction industry is acting as a trigger for the industry, over the past year we have seen a marginal increase for general construction supplies such as steel and block.?

The company said negotiations were continuing with the Corporation of Hamilton as its current lease was due to expire at the end of December.