FAIRSTAR HVY TRNSP : HEAVY TRANSPORT NV releases 2010 Fourth Quarter results and publishes fleet utilization update for 2011/2012/2013

Fairstar Heavy Transport NV (FAIR) announced today an EBITDA loss of USD 2.7 million for the Fourth Quarter of 2010.
Fleet utilization of FJORD and FJELL for the quarter was 32%, the lowest level ever experienced by Fairstar since the FJORD and FJELL went into service in 2008 and 2009 respectively. The disappointing operating results were offset by a significant increase in cash liquidity of over USD 29 million. The balance sheet was further enhanced by raising USD 12.3 million in additional equity in November of 2010. 
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