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Boskalis plans counter-cyclical investment in subsea market – to acquire another DSV

Mon 13 Nov 2017 by David Foxwell

Boskalis plans counter-cyclical investment in subsea market – to acquire another DSV
Having acquired Constructor, Boskalis is looking at acquisition of a high-end DSV

Boskalis, which has transitioned from being a pure-play dredging company into a diversified offshore operator in recent years, is planning to venture further into the subsea vessel market, and is hoping to acquire a dive support ship.

In an update about its current situation, the company noted that an objective stated in its corporate business plan 2017-2019 is to strengthen the group’s market position in subsea services.

“In a persistently challenging market there tends to be interesting opportunities for anti-cyclical investments in companies or equipment that will result in Boskalis being well-positioned when end-markets recover again,” the company said.

“In mid-August Boskalis took a first step in this direction with the acquisition of subsea survey specialist Gardline.

“In addition, Boskalis recently acquired the dive support vessel (DSV) Constructor for around €40M (US$47M).

Boskalis recently exercised an option on this leased vessel to acquire it and said it is in advanced stages of negotiation for the acquisition of a modern, high-end DSV.

Earlier this year the company was linked with dive support vessel owner Bibby Offshore, and was said to be talking directly to Bibby Offshore’s bondholders.

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