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Boskalis Sees Profit Fall, Fleet Cuts on Weak Oil Industry

Posted on March 14, 2016

By Toby Sterling, Reuters

Marine construction company Boskalis expects a drop in net profit this year as depressed commodity prices hit demand for oil-related infrastructure, it said on Wednesday.

Its shares fell 10 percent to 32.42 euros in early trading.

“Volumes and prices are under pressure, which is also translating into our order book,” Chief Executive Peter Berdowski said in a statement. “We are tightening up the fleet and the organization, and are alert to respond to the opportunities the market continues to present.”


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