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Towage and Salvage Europe

Smit saved from first-quarter profit dip by Hurricane Denis settlement

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SMIT, the Rotterdam-based salvage, towage and heavylift company, recorded a first-quarter net profit of €28m ($38.1m), although this was boosted by a €10m settlement with BP relating to Hurricane Denis salvage operations for the semi-
submersible Thunderhorse rig in July 2005.

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