Dredging, Marine Experts, Boskalis Trading Update

Press Release
Friday, May 11, 2012

Boskalis issues its trading update following approval at its AGM, reporting higher revenue, increased order book

Selected highlights are as follows:

The developments at Royal Boskalis Westminster N.V. (Boskalis) in 2012 to date are in line with expectations.
    •    Revenue level slightly higher than in the same period last year
    •    Higher fleet utilization compared to 2011
    •    Higher order book compared to year-end 2011

Developments
Boskalis realized a slightly higher revenue in the first quarter of 2012 compared to the same period last year. In recent months, market circumstances remained challenging with continued pressure on revenue and margins.
 
For the combined Dredging and Dry Infrastructure segment revenue for the first quarter was comparable to the same period in 2011.

The Harbour Towage activities showed a stable revenue development. The level of activities was particularly high in Brazil. In 2011,

The Salvage, Transport & Heavy Lift segment showed on balance a positive picture in the first quarter. Salvage experienced high demand for wreck removal services and the Transport and Subsea activities also developed well.

Activity levels at both the Terminal Services and Maritime Infrastructure segments developed in line with expectations.
 
At the end of March, the order book amounted to EUR 3.55 billion, excluding the recently acquired contracts in Australia (Ichthys offshore) and Northwest Europe (West of Duddon Sands wind park, Meerwind wind park and subsea maintenance work for Maersk Oil) with a combined value of EUR 310 million. On balance the order book increased slightly compared to the 2011 year-end level (EUR 3.49 billion).

The financial position of Boskalis continues to be strong and showed no material change compared to the end of 2011.

Outlook
Given the current market conditions we expect that 2012 will be affected by a slow down on the positive drivers that underpin our strategy. This situation, combined with the project-based nature of a significant part of our activities, means that we are currently unable to provide quantitative guidance for the 2012 annual result. As previously announced, we however anticipate that we will not be able to match the 2011 result. Based on current insights we do not foresee a materially different market environment in 2012 relative to 2011, but prospects for the medium term are more positive. 
 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Salvage

NZ Report: Human Error to Blame for Rena Grounding

New Zealand's Transport Accident Investigation Commission (TAIC) published its final report into the grounding of containership Rena in October 2011. The TAIC’s

Workboats: Communications is Key Operational Tech

As we close out yet another year, I am constantly amazed at how much things change on the waterfront and the boats that ply the adjacent waters. Similarly, I like

Report: Dire Conditions in Indian Shipbreaking Yards

Report by Indian research institute reveals poor enforcement of occupational health and safety provisions   The working and living conditions at the shipbreaking yards of Alang,

Dredging

Damen Builds Tug, Dredger for Nicaragua

The Nicaraguan port authority Empresa Portuaria Nacional (EPN) is set to take delivery of two newbuilds from Damen Shipyards Group. Damen built both vessels, a

Even 'Small' Vessels are Getting Bigger

The Shipowners’ Club is a mutual provider of P&I insurance that has throughout its 160 year history been dedicated to serving owners of small and specialist ships.

Container Volumes on the Rise in South Carolina

Container volume up 13 percent at South Carolina Ports Authority; Charleston benefiting from federal appropriations    The SC Ports Authority announced another

Subsea Salvage

Wrecked Bulker’s Bow Refloated, Scuttled off S.Africa

TITAN Salvage, Crowley Maritime Corp.'s Houston-based marine salvage, emergency response and wreck removal company, has refloated and scuttled the largest section of the wrecked bulk carrier, Smart.

Mermaid Wins Subsea Contract in Gulf of Thailand

Mermaid has secured a 2-year contract for its dive support vessel, ‘Mermaid Commander’, to provide subsea construction support in the Gulf of Thailand for a

Lifting Costa Concordia

Ropes made with Dyneema help Titan Salvage, Micoperi on historic salvage operation   The largest and most complex maritime salvage operation ever carried out was concluded this summer.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1557 sec (6 req/sec)