CimbriaTelestackPort of StocktonTMS Awards 2023Van AalstPort of South Louisiana
  • Vigan
  • Telestack
  • Cimbria
  • Port of Stockton
  • TMS Awards 2023
  • Port of South Louisiana

Record-breaking year for Logistec

Record-breaking year for Logistec

(Posted on 23/03/22)

Logistec Corporation has announced its financial results for the year ended December 31, 2021.

Logistec is based in Montréal (QC), Canada and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 54 ports and 80 terminals located in North America.

Pursuing its long-term growth strategy, Logistec was able to report the most successful year of its history, reaching key milestones on the financial, operational, and environmental fronts.

“This record-breaking performance is the result of a clear vision, a solid strategic plan, well-defined business objectives, and great execution,” said Madeleine Paquin, President and CEO, Logistec. “I am grateful to all the members of our team who were ready to go beyond and adapt to our customers’ and partners’ needs, providing reliable and creative solutions in this buoyant market. We are at an exciting moment in our history where we can drive change with our expertise and technology, and continue to push boundaries for many years to come.”

Consolidated revenue totalled $743.7 million in 2020, an increase of $139.0 million or 23.0% over 2020. The marine services segment delivered the best performance ever with 2021 revenue closing at $427.0 million, compared to $344.6 million, an increase of 23.9%. Logistec’s port terminal operations reported a record tonnage handled in 2021 due to strong demand throughout the year, which led to these outstanding results. The environmental services segment also achieved a remarkable performance with revenue reaching $316.7 million for 2021, up from $260.1 million or 21.8% from the previous year.

Logistec reported a profit for the year of $45.6 million, of which $45.4 million was attributable to owners of the Company.

From a global perspective, the current situation between Russia and Ukraine and the related sanctions being brought forth by various countries may influence the flow of industrial commodities. It is difficult to predict what the outcome will be, as some cargoes could be negatively affected, whereas alternative cargoes could be favoured.

Coming out of its best year ever, marine services segment remains strong, and Logistec has the confidence and support of customers and our partners.

Adjusted EBITDA is a non-IFRS measure, please refer to the non-IFRS measure section.

From an organizational standpoint, they are in the process of redefining and deploying data strategy and have built the foundation for our Enterprise Resource Planning (“ERP”) system that will be deployed in the coming years. They believe in investing in technologies to modernize IT infrastructure to leverage data in support of their decision-making process.

Logistec are confident we can continue to deliver a strong financial performance in the future and will continue to seek growth opportunities, both organic and through acquisitions, while creating value for all stakeholders.

Logistec also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to shipowners and operators serving the Canadian market. Furthermore, the Company operates in the environmental industry where it provides services to industrial, municipal and other governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products.

Latest News

Cargo transhipment in North Sea Port remains stable

(Posted on 16/07/24)

Over the first six months of this year, the companies in North Sea Port recorded a volume of 33.4 million... Read more

Rotterdam to support redevelopment of Curaçao industrial zone

(Posted on 12/07/24)

Port of Rotterdam Authority will contribute to the redevelopment of the lands owned by the state-owned... Read more

ABP boosts marine capability through pilot launch upgrades

(Posted on 12/07/24)

Associated British Ports (ABP), the UK’s largest and leading ports operator, has announced an... Read more

ABP Humber welcomes Laura Wood as new Head of Commercial

(Posted on 04/07/24)

As Head of Commercial, Laura will head up the team responsible for Associated British Port’s wide... Read more

Cooperation on multiple port projects in Bangladesh

(Posted on 28/06/24)

Abu Dhabi, one of the world’s leading facilitators of global trade, logistics, and industry, and... Read more

Sastry: Africa’s mining industry offers high margins and long-term contracts

(Posted on 20/06/24)

Speaking at this year’s Drycon conference in Mumbai, Capt. Pappu Sastry, CEO of Adhira Shipping... Read more

Tunley Environmental announces ambitious transatlantic expansion plans

(Posted on 19/06/24)

Sustainability consultancy Tunley Environmental is announcing ambitious transatlantic expansion plans... Read more

Duluth earns favourable marks in Green Marine environmental rating

(Posted on 14/06/24)

The Duluth Seaway Port Authority and its terminal operations on Rice’s Point ranked among the... Read more

Humber Freeport makes new home in historic trade centre

(Posted on 07/06/24)

Associated British Ports (ABP) has announced that the Humber Freeport Company has located its headquarters... Read more

Partnership for Lake Ontario short sea shipping corridor with USA

(Posted on 07/06/24)

The Hamilton Oshawa Port Authority (HOPA Ports) has announced an agreement with an affiliate of Beowulf... Read more

Bühler GmbHTBA GroupSailors SocietyGeneva DryVigan
  • Van Aalst
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping