Boskalis Post Record H1 2014 Profits
Despite what it describes as 'challenging market conditions' Royal Boskalis Westminster N.V. posted record profits in the first half year ended 30, June 2014. The results in all three segments rose sharply compared to the first half of 2013. Dredging & Inland Infra had a busy first half of the year with a high fleet utilization rate, good project margins and substantial settlement results on old projects. The Offshore Energy segment also had a good first half of the year with a high fleet utilization rate and good project margins. Furthermore, Dockwise contributed an extra quarter to earnings compared to 2013 in addition to a sizable contribution from cancellation and rescheduling fees.
Dockwise Reduces Debt by $58m in Q2
Dockwise announced that it expects to reduce its debt by a total of $58m to just below $963m by the end of Q2 2009. Following its 18-month refurbishment, MV Mighty Servant 3 will shortly rejoin the fleet of Dockwise Transport B.V., a wholly owned subsidiary of Dockwise Ltd. Mighty Servant 3 will bring Dockwise's total fleet to 20 semi submersible vessels. Delivery of the vessel triggers the release of the remaining $40.6m currently held in escrow to cover the costs of reinstatement and vendor compensation. Settlement of the previously announced debt buy back is scheduled for 30 June 2009. As a result, the group's debt will reduce by some $8.5m. Dockwise agreed the sales of Dock Express 10 and 12 in 2008 as part of its strategy to optimize fleet composition.
Dockwise Takes Delivery of MV Trustee
The MV Triumph, the final vessel out of a series of six, joined the fleet of Dockwise Transport in December. Dockwise is a wholly owned subsidiary of Dockwise Ltd. After successfully completing the submerging test and sea trials, MV Trustee was delivered to the owners on 30 December 2008. The heavy transport vessel is designed to transport complex, high-value cargo like jack- up drilling units and has a carrying capacity in excess of 35,000 tons. The Trustee will load its first cargo in China after the vessel has been prepared. This vessel was converted at the Cosco shipyard at Zhoushan, China. During the conversion, the entire midship section has been replaced and machinery and equipment were fully revised and renewed.
Dockwise Subsidiary Takes Delivery of MV Treasure
Following the delivery of mv Talisman in May 2008, the fourth vessel out of a series of six MV Treasure now joins the fleet of Dockwise Transport, a wholly owned subsidiary of Dockwise Ltd. As was the case with the earlier three, also this vessel is delivered in accordance with the delivery schedule. The remaining two converted tankers Triumph and Trustee will be delivered at the end of 2008. After completing the submerging test and sea trials, MV Treasure has been delivered to the owners on June 30. The heavy transport vessel is designed to transport complex, high-value cargo like jack- up drilling units and has a carrying capacity in excess of 35,000 tons. This vessel was converted at the COSCO shipyard at .
Dockwise Takes Delivery of Heavy Transport Vessels
Following the delivery of the Transporter in May 2007, heavy lift vessel Target, one of the former Sealift vessels, now joins the fleet of Dockwise Transport BV, a wholly owned subsidiary of Dockwise Ltd. The Target is the second of six singlehull tankers to be converted into heavy lift vessels. These six vessels, recently added to the Dockwise fleet, of which the last is scheduled for delivery at the end of 2008, will enable Dockwise to optimize strategic deployment of the 22-vessel fleet to best serve the various markets. More specifically, Dockwise will be able to provide clients with unparalleled flexibility in using various types of vessels, reducing risk and increasing scheduling and contracting opportunities for different clients.
Dockwise Transport BV Receives Heavy Lift Vessel
Following the delivery of the "Transporter" in May 2007, heavy lift vessel "Target", one of the former Sealift vessels, now joins the fleet of Dockwise Transport BV, a wholly owned subsidiary of Dockwise Ltd. The "Target" is the second of six single-hull tankers to be converted into heavy lift vessels. These six vessels, recently added to the Dockwise fleet, of which the last is scheduled for delivery at the end of 2008, will enable Dockwise to optimize strategic deployment of the 22-vessel fleet to best serve the various markets. More specifically, Dockwise will be able to provide clients with unparalleled flexibility in using various types of vessels, reducing risk and increasing scheduling and contracting opportunities for different clients.
