Boskalis Achieves Higher Revenue In Q1 2014

By Joseph R. Fonseca
Tuesday, May 13, 2014
Logo

 

Royal Boskalis Westminster N.V. reported a higher revenue for the first quarter of 2014 compared to the same period last year. This was in line with company expectations. This achievement was the result of Good utilization of the Dredging and Offshore vessels. Adjusted for the acquisition of Dockwise, which was only included in the consolidated figures from the second quarter of 2013, revenue was also  higher.

There was no material change in market circumstances during the quarter in a stable market. At the end of March the group order book was also stable compared to the end of 2013.

Revenue in the Dredging & Inland Infra segment was slightly higher than in the first quarter of 2013, partly influenced by projects in Qatar, Brazil and India. The reported margin was at a comparable level as in the same period last year. The utilization level of the hopper fleet was stable whereas the utilization of the cutter fleet increased relative to the first quarter of 2013.

The order book of the Dredging & Inland Infra segment was down slightly compared to the end of 2013.

Offshore Energy had a strong first quarter. Revenue grew as a result of the West of Duddon Sands project in the Irish Sea, the Malampaya transport and installation project in the Philippines, Ichthys offshore in Australia and a large number of rock installation works in Europe. The utilization of the transport fleet and floating sheerlegs was good.

Dockwise experienced a good first quarter with strong fleet utilization which was up on the average for 2013. The higher utilization level was mainly due to a strong spot market.

The Offshore Energy segment order book was slightly down compared to the end of 2013.

The activities of Fairmount Marine acquired at the beginning of March will be included in the consolidated figures from the second quarter.

Towage & Salvage reported a lower revenue with good underlying margins in the first quarter.

Harbour Towage had a busy first quarter, mainly in Brazil and Rotterdam. Salvage had a quiet first quarter. In early 2014 two large salvage contracts were acquired, relating to the car carrier Baltic Ace in the North Sea and a jack-up rig off the coast of Angola, on balance resulting in an increase of the segment order book.

There was no material change in the financial position of Boskalis compared to the end of 2013. The net debt position rose slightly as a result of the acquisition of Fairmount. The balance sheet ratios and liquidity remain strong and Boskalis is operating well within the covenants agreed with its debt providers.

Boskalis

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

Offshore

Corima Acquires Damen ASD 2810 Tug

On 20 January 2016, Corima, part of the Italy-based Gesmar Group, held an official handover ceremony for a Damen ASD 2810 tug. The festivities were attended by

HHI to Localise Main Equipment for Offshore Plants

Hyundai Heavy Industries and Doosan Heavy Industries Collaborate in Localizing Main Equipment for Offshore Plants   Seoul, South Korea – February 4 – Hyundai Heavy Industries (HHI),

European Consortium Launches Blue Nodules Project

On 1 February a European consortium launched a new Horizon 2020 project: Blue Nodules. This project addresses the challenge of creating a viable and sustainable

Finance

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MISC Bhd: Revenue Up

Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015

Cosco Merger May Change Industry Dynamics

The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry,

News

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

First Panama Canal Water-Saving Basin Filled

The Panama Canal Authority (ACP) announced that the first water-saving basin of the Agua Clara Locks’ upper chamber has been filled to the required level in order

Maritime Safety

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

Hijacked Singaporean Ship Released in Nigeria

The crew of a Singapore-registered container vessel, Safmarine Kuramo, hijacked off the Nigerian Coast earlier this week, were released unharmed on Saturday (Feb

VPS Raises Concerns Over Revised Rules for Fuels

Veritas Petroleum Services (VPS) expressed reservations about some of the proposed revisions to the international ISO 8217 specifications of marine fuels. Areas

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1133 sec (9 req/sec)