Slow recovery expected in offshore and subsea markets

JDN-Artist's impression of Voltaire. Credit: Jan De Nul

Boskalis’ 2018 revenue amounted to EUR2.6 billion (USD2.9 billion) that yielded a net operating profit of EUR83 million, which the company stated was, “mainly attributable to a sharp decline in the offshore energy division, which posted an operating loss for the first half of 2018”.

But there are bright spots. While this was dramatically down from EUR150 million profit in 2017, “There was a positive contribution,” Boskalis CEO Peter Berdowski notes, adding that this was “primarily from contracting activities and Gardline’s survey services. Our position in offshore wind was also considerably strengthened with the commissioning of crane vessel Bokalift 1”.

After a busy year installing foundations for offshore wind turbines in 2019, the vessel will be deployed to decommission offshore platforms. The company’s market position in offshore installation and intervention was also recently reinforced by the addition of Boka Falcon, a modern construction support vessel.

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