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

People & Company News

ISR Holds Crawler Crane Dedication Ceremony

International Ship Repair & Marine Services, Inc. (ISR) was awarded a $980,260 federal grant from the U.S. Department of Transportation Maritime Administration

Eastern Awarded NYC Firefighter Plate

Monday, April 7, 2014, at the Sea Air Space Exposition at the Gaylord National Convention Center - National Harbor, MD, Brian D’Isernia, Eastern Shipbuilding Group,

ESAB Releases Updated Columbus III

ESAB Welding & Cutting Products announces the release of Columbus III version 1.2, a powerful CAD/CAM programming and nesting software optimized for plasma, oxy-fuel, laser and waterjet cutting.

Finance

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

Japan Expresses Concern Over Chinese Ship Seizure

The Japanese government has expressed its concerns to China via diplomatic channels over the seizure of a Mitsui O.S.K. Line Ltd ship by a Chinese court in connection with a case over wartime claims,

China Shipbuilder Rongsheng in 2013 Revenue Freefall

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority 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: 0.1757 sec (6 req/sec)