Boskalis reports steady first quarter

Dutch dredging and maritime infrastructure contractor Royal Boskalis Westminster has announced its financial performance for the first quarter of 2014 is "in line with expectations".

Boskalis saw higher revenue in the first quarter of 2014 compared to the same period in 2013. As of March 31, 2014, the group’s order book was also stable compared to the end of 2013.

Revenue in the Dredging & Inland Infra segment was slightly higher than in the first quarter of 2013, partly influenced by projects in Qatar, Brazil and India. However, the order book for Dredging & Inland Infra was down slightly 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 Offshore Energy segment order book was also slightly down compared to the end of 2013.

Looking ahead, Boskalis said it expected 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 areas of transport, logistics and installation.