Boskalis Report Good Financial Progress

Press Release
Friday, May 10, 2013

Royal Boskalis Westminster N.V. (Boskalis) say that developments in first quarter 2013 to date are in line with expectations.

In their latest trading update Boskalis show:
·         Revenue higher than in the same period last year
·         Good fleet utilization
·         Order book stable compared to year-end 2012
·         Dockwise acquisition finalized; integration process started

Developments
Boskalis realized a higher revenue in the first quarter of 2013 compared to the same period last year. There was no material change in market circumstances during the quarter, with continued pressure on margins and challenging conditions. The acquisition of Dockwise was finalized at the end of March and the Dockwise results will be included in the consolidated figures from the second quarter.

The Dredging segment
reported good margins with a revenue level that was in line with the first quarter of 2012. Utilization of the hopper fleet was good in the first quarter and was higher than the 2012 full year utilization rate. In addition to the customary contribution from the fleet operations and project results, the first quarter also saw a book profit from the sale of equipment.
Offshore Energy
provided a mixed picture in the first quarter. Subsea and Marine Services saw a relatively quiet quarter, partly because of low utilization of the diving support vessels due to weather conditions in the North Sea. Subsea and Marine Contracting had a busy first quarter, with good utilization rates for the fallpipe vessels in particular. The Dockwise activities will be added to the Offshore Energy segment with effect from the second quarter.

The revenue level in the Inland Infra segment was higher compared to the same period last year. However, due to seasonality and pricing pressure in the Dutch market, result growth did not keep pace. Since late 2012 Boskalis has been in talks with a party from the Middle East which is interested in acquiring Boskalis' 40% stake in Archirodon. Further details will be disclosed if and as soon as these talks result in an actual transaction.

Towage & Salvage

These activities had a good first quarter. Harbour Towage was able to look back on a good quarter partly thanks to a number of Salvage assistances. The terminal activities (our 50% stake in Smit Lamnalco) also had a good quarter despite a quiet spot market. Salvage made a good start to the year with a high workload of emergency response and salvage contracts.

At end-March the order book stood at EUR 4.1 billion, unchanged compared to the end of 2012.

 

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

People & Company News

US Orders Trawler with Common-Rail Technology

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN

Environmental Awards Recognize 84 Foss Vessels

With a combined 840 years without an environmental incident, 84 Foss Maritime and subsidiary companies' tugs and tank barges have been recognized by a major maritime

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

Finance

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.2998 sec (3 req/sec)