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Boskalis Expanding Subsea

Boskalis Expanding Subsea
Royal Boskalis Westminster N.V. (Boskalis) is all set to strengthen the group's market position in the area of Subsea Services, says its Corporate Business Plan 2017-2019.

"In a persistently challenging market there tend to be interesting opportunities for anti-cyclical investments in companies or equipment that will result in Boskalis being well-positioned when end-markets recover again," it says.
 
In mid-August Boskalis took a first step in this direction with the acquisition of subsea survey specialist Gardline. In addition, Boskalis recently acquired the DSV Constructor for around EUR 40 million. 
 
Boskalis recently exercised a purchase option on this leased vessel, which had been part of the fleet for some considerable time. Furthermore, Boskalis is in advanced stages of negotiation for the purchase of an existing modern high-end SAT DSV. 
 
Boskalis saw a slight increase in revenue in the third quarter of 2017 compared to the quarterly average reported for the first half the year, whilst the result failed to keep pace.
 
Compared to the third quarter of last year both revenue and the result were considerably lower, in line with expectations. In 2016 Offshore Energy still had a good year, boosted by a number of large offshore wind farm installation projects in progress.

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