Bermuda-based shipping firm Dockwise Limited made a loss of $14.1 million for the third quarter 2007, representing an overall loss of $55.6 million for the year-to-date.

Former parent Dockwise Transport NV recorded a $13.5 million profit for last year's third quarter and a profit of $40.8 million for the year-to-date third quarter 2006.

But, revenues increased 13 percent from $182.2 million year-to-date for the third quarter last year to $206 million for the same period in 2007.

Meanwhile, the total order backlog Dockwise Heavy Lift projects amounted to $224 million, up from 52.4 percent from the second quarter 2007, reflecting a big demand for its services.

André Goedée, CEO of Dockwise, said: "The third quarter's operational performance is consistent with performance in the first half year. The healthy mix of backlog commitments and new contracts concluded in this quarter confirm once again the strength of the Dockwise proposition to the market.

"Offering optimal flexibility, providing solutions when clients have delivery setbacks in combination with quality operations are the backbone of the continued strong financial performance.

Other highlights included a full listing on the Oslo Stock Exchange and the delivery of Yacht Express, the largest vessel of its kind in the world that allows yachts of any size to be safely floated on and off as cargo, both last month.