Healthy TSHD utilization level in Q1 for Boskalis

Boskalis’ business results for the first quarter of 2022 proceeded in line with expectations, the company said in its latest trading update.

The Dredging & Inland Infra division’s revenue increased significantly compared to the first quarter of last year, mainly due to the activities in the bay of Manila that also contributed to the healthy utilization level of the trailing suction hopper dredgers.

Other noteworthy projects in progress included Tuas Terminal 2 and the Pulau Tekong Polder (both in Singapore), the Fehmarnbelt tunnel (between Denmark and Germany) and in the Netherlands, the Markermeerdijken project, the N206 and the construction of an inland harbor in Spijk.

The utilization of the hopper fleet was good and fractionally higher than the healthy level in 2021, said Boskalis.

The two large cutter suction dredgers were idle during the first quarter with the Helios to be deployed on the Tuas Terminal 2 project in Singapore in the course of the second quarter.

Early this year, the trailing suction hopper dredger (TSHD) Prins der Nederlanden was temporarily taken out of service for an extension at a yard in Singapore.

The conversion is expected to be completed by the middle of this year, after which the vessel will be redeployed in the region with an increased hopper capacity of approximately 22,000 cubic meters.

The extension of the sister vessel Oranje is planned for the second half of the year.

According to Boskalis, the order book of Dredging & Inland Infra decreased slightly compared to the end of 2021.

During the quarter, mainly small to medium-sized projects were acquired in Europe.