Boskalis CEO: Recent developments in the Middle East cause considerable uncertainty

Boskalis said in its latest business results that as of year-end, the order book amounted to EUR 7 billion, fractionally higher than at the end of 2024.

In the Dredging & Inland Infra division, revenue amounted to EUR 1.9 billion (2024: EUR 2.2 billion).

The trailing suction hopper dredgers were utilized for an average of 32 weeks, predominantly on projects in Asia and the Middle East; the subsea rock installation vessels were very busy (49 weeks), whilst the utilization of the cutters was significantly lower (21 weeks) compared to last year.

Commenting the latest news, Theo Baartmans, CEO Boskalis, said: “As for the outlook, we see that increased geopolitical tensions, trade restrictions and rising costs are affecting the appetite to invest in large infrastructure developments. The 2025 result was exceptional and will not be matched this year; however, based on the order book and taking into account the current situation in the Middle East, we remain cautiously positive about 2026.“

“Based on our strategy focused on the construction and maintenance of maritime infrastructure, as well as our relevance to major societal challenges, such as advancing the energy transition and providing solutions in response to climate change, the medium and long-term outlook for Boskalis is favorable.”

“Recent developments in the Middle East are causing considerable uncertainty. Although it is currently relatively quiet in terms of projects in the Persian Gulf, we have many colleagues in the region. The unrest and limited opportunities to leave the region make this period particularly difficult for them and their families.”

“Safety is a top priority at Boskalis that extends beyond our vessels and projects; where possible, we are offering remote support and care to our colleagues.”