Boskalis Reports Lower Revenues, Increased Order Book

Royal Boskalis Westminster N.V. has just released its latest trading update, saying that the market picture for the coming period would be characterized by continued lower volumes of work and pressure on both utilization levels and margins.

Compared to the same period last year, revenue declined at virtually stable fleet utilization rates. Weak market conditions resulted in a considerably lower result, particularly at Offshore Energy.

Revenue at the Dredging & Inland Infra division declined slightly compared to the quarterly average achieved last year against a lower average margin.

Notable projects in the first quarter included port activities in the UK, Sweden, South Korea and Brazil as well as the construction of an island off the coast of Panama City. Given the circumstances, the utilization rate of the hopper fleet was good and slightly higher than the average utilization rate in 2016., Boskalis said.

The Queen of the Netherlands, the largest trailing suction hopper dredger in the fleet, came back into service in April after extensive repairs.

“The utilization rate of the cutter fleet was good in the first quarter following an extremely quiet 2016,” according to the announcement.

The order book of the Dredging & Inland Infra division increased compared to the end of 2016.

Notable new projects contracted include the development of the port of Duqm (Oman), the deepening and widening of the access channel to Jawaharlal Nehru Port in Mumbai (India), port activities in Brazil and Australia and an extension of the Fox River cleanup project in the United States.

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Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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