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Boskalis Achieves Record Q3 Performance

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Royal Boskalis B.V. (Boskalis) has successfully concluded a remarkably strong third quarter, positioning the company for an exceptionally robust full-year performance following a positive first half. The quarter showcased high fleet utilization, increased revenue, and improved results across all divisions, notably in the Offshore Energy division.

Several significant projects were secured during the quarter, including the expansive Baltica 2 offshore wind cable project and the A2 infra project in Limburg, Netherlands, spanning from Het Vonderen to Kerensheide. The order book, standing at EUR 6 billion by the end of September, reflects stability, paralleling mid-2023 levels. The underlying order book for the major divisions remained virtually unchanged.

Peter Berdowski, CEO of Boskalis, expressed satisfaction with the company’s performance, citing the best third quarter in its history. Dredging, with major projects in Asia, the Middle East, and European home markets, made a substantial contribution. The most notable growth was observed in the Offshore Energy division, attributing success to the strategic focus on both traditional energy and the offshore wind market.

Salvage achieved milestones with the completion of high-profile assignments, such as the FSO Safer in the Red Sea and the Fremantle Highway in the Wadden Sea. The company remains on track to achieve one of its best years ever.

Boskalis’ sustainable growth strategy, emphasizing activities that contribute to societal value and sustainable growth, was evident in several ongoing projects. Notable among these was the commitment to climate adaptation initiatives, reinforcing dikes in the Netherlands and completing coastal protection projects in West Africa and the Maldives.

In the realm of energy transition, Boskalis played a vital role in renewable energy infrastructure development. The third quarter featured successful installations at offshore wind farms in Taiwan and the United States, with preparations underway for the Revolution wind farm. Additionally, the company engaged in geophysical surveys, decommissioning activities, and salvage operations, preventing environmental disasters.

Boskalis showcased its commitment to innovation by completing the transformation of the crane vessel Bokalift 2 and ordering a state-of-the-art jumbo trailing suction hopper dredger. The vessel, equipped with Azipods for energy efficiency and prepared for green methanol as an alternative fuel, represents a significant step in reducing CO2 emissions from the fleet.

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