Boskalis Reports 6% Drop in Q3 Order Book

Royal Boskalis Westminster has reported a drop in the order book of 6.1% for the third quarter.

Also, operating profit was lower than results in the first half of the year, as well as the same period last year.

According to the company, the result was in line with expectations.

“Market conditions remain challenging, particularly in the capacity-driven segments in the Offshore Energy market, resulting in pressure on work volumes and pricing,“ said Boskalis in a statement.

Furthermore, offshore energy segment posted lower revenue and results compared to the past few quarters, partly due to a lower utilization of heavy transport vessels.

“The nature of our activities means that we are largely late-cyclical in the offshore segment,“ the company said.

The order book of Offshore Energy was around 9% lower compared to mid-2015.