Boskalis, global maritime services company operating in the dredging and inland infrastructure, and offshore energy sectors, realized a higher revenue in the first quarter of 2014 compared to the same period in 2013.
Adjusted for the acquisition of Dockwise, which was only included in the consolidated figures from the second quarter of 2013, revenue was also higher. There was no material change in market circumstances during the quarter in a stable market. At the end of March the group order book was also stable compared to the end of 2013.
Offshore Energy had a strong first quarter. Revenue grew as a result of 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 company also stated that the utilization of the transport fleet and floating sheerlegs was good.
Dockwise experienced a good first quarter with strong fleet utilization which was up on the average for 2013. The higher utilization level was mainly due to a strong spot market.
The Offshore Energy segment order book was slightly down compared to the end of 2013.
The activities of Fairmount Marine acquired at the beginning of March will be included in the consolidated figures from the second quarter.
Boskalis expects market conditions for its Dredging and Towage activities to be stable in the next three years, with scope for growth mainly seen for Offshore Energy in the area of Transport, Logistics & Installation.
Company said: “Current information suggests that no major changes are to be expected in the market environment for the remainder of the year. Based on the order book at Dredging and Offshore Energy we expect healthy fleet utilization levels in the coming months.”