Struggling tug market hurts Boskalis

The Dutch marine group behind tug and salvage group Smit is feeling the pain across its three business areas, with significantly lower revenue and operating result.

Photo: PR-foto/Boskalis

The pressure on major tug companies is clearly reflected in the third quarterly report from Dutch group Boskalis, as well as those from other industry players such as Maersk-owned Svitzer.

The contribution from Smit Lamnalco and Keppel Smit Towage to the marine group's total report was in both cases lower than expected due to difficult market conditions.

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