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Boskalis sees Q1 growth

May 13 - Royal Boskalis Westminster has reported year-on-year growth in revenues in the first quarter of 2014 in comparison to 2013.

Dockwise, which Boskalis acquired during 2013, experienced a strong first quarter with fleet utilisation up on its 2013 average. The encouraging demand was attributed to a strong spot market, said Boskalis.

Boskalis' offshore energy division also had a strong first quarter due to the West of Duddon Sands project in the Irish Sea, the Malampaya transport and installation project in the Philippines, Ichthys offshore in Australia and a large number of rock installation works in Europe. The utilisation of the company's transport fleet and floating sheerlegs was good. However, its offshore energy orderbook was slightly down compared to the end of 2013.

The activities of Fairmount Marine, which Boskalis acquired at the beginning of March 2014, will be included in the consolidated figures from the second quarter.

Boskalis' towage and salvage arm reported a lower revenue but with good underlying margins in the first quarter of 2014.

Heavy Lift | News

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