While several companies and sectors have been hit hard by the coronavirus crisis, the impact on Dutch Boskalis' business so far has been "relatively limited". The company is cautiously optimistic about the rest of the year, though it expects to be affected by the coronavirus crisis and oil price plunge.
Boskalis has settled a new contract with the Port of Rotterdam, where the shipping company will do maintenance and dredging to ensure free access to the port. The contract is for three years but can be extended.
Offshore company Boskalis exited the third quarter of the year with increases in revenue and operations. The order book also grew in the period, and the company expects a stronger second half of the year, writes Boskalis in an update.
Boskalis lost more than EUR 400 million in 2018, where the offshore market in particular was strained and resulted in impairments. Revenue as well as the size of the order book increased over the course of the year.
The Dutch tugboat and marine group bagged a triple-digit million contract in euros for offshore cable installation. This marks the company's largest ever contract and will be carried out in a consortium which includes cable manufacturer NKT.
The Dutch company will sail on biofuel while working on a wind farm. More projects with biofuel are underway, and with time the fuel will represent a way of reducing the carrier's environmental footprint.
Marine and towage group Boskalis suffered a massive deficit for the first half of the year, as weak activity in Offshore Services dragged the group down despite positive developments in other business units.