In its third-quarter trading update, Royal Boskalis Westminster reports a more positive outlook for the high-end heavy transport market, with a number of long-term transport contracts signed for 2021-2022.
Boskalis saw revenue increase slightly in the third quarter of 2019 compared to the quarterly average for the first half of the year.
The order book stood at EUR4.2 billion (USD4.6 billion), slightly lower compared to the end of June. Over EUR500 million (USD550 million) of new contracts were signed in the third quarter, not including the recently awarded Changfang and Xidao offshore wind project in Taiwan.
According to Boskalis, the utilisation of heavy transport vessels was stable compared to the first half of the year, while the project-specific assets (cable-laying, crane and fall pipe vessels) saw improvements.
“The high-end transport market is starting to show cautious signs of recovery following a number of quiet years during which transport was wholly dependent on the spot market,” commented Boskalis.