Banner

Banner
Banner

Baird Maritime News Alerts

Magazine Archive

FREE online issues of Baird Magazines (delayed two months):

Baird Maritime Magazine

Work Boat World

Ships and Shipping

Ausmarine

Weekly Poll

Is third-party seafood labelling good for the fishing industry?
 
Boskalis result “in line with expectations” under difficult market conditions
Thursday, 18 August 2016 16:01

Boskalis has announced a net profit of €147.5 million (US$166 million) in the first half of 2016 – less than half the €306 million recorded in the first half of 2015.

Revenue in the first half of the year fell by a quarter compared to the first half of last year to €1.17 billion, as a result of the deteriorated market conditions, the company said.

In the Dredging and Inland Infra segment revenue and the result declined as a result of weak market conditions, and the completion of the Suez Canal project, which made a substantial contribution to the company’s income last year.

Fleet use was also affected by the suspension of work on the Pluit project in Indonesia.

The company said its offshore energy involvement produced managed to have a good first half of the year despite market conditions with margins similar to that of last year

“At the start of the year we indicated that we are experiencing stormy conditions,” Peter Berdowski, CEO of Boskalis.  “Falling prices of oil, gas and commodities are the dark clouds on the horizon that ultimately also affect late-cyclical companies such as Boskalis. The volume of work in the market has dropped significantly and a decline in revenue and the result is therefore inevitable.”

Cialis Side Effects is just like any other medication but do not necessity to worry and expect that everything is bad. There is nothing surprising in this. All is simple and clear.