Boskalis has signed a contract to sell the Australian and Papua New Guinean operations of Smit Lamnalco as its profits and revenues are buoyed by risingglobal demand for towage and salvage
High demand for salvage and towage has helped RoyalBoskalis increase its revenues by 14%. Itreported revenues of €2.4Bn (US$2.7Bn) in H1 2025 compared with €2.1Bn in the same period of 2024, while its net profit increased by 43% to €426M compared with €298M in H1 2024. Adjusted for exceptional income in 2024, net profit increased by 52%.
These increases were driven by growth in towage, salvage, dredging and offshore businesses worldwide.
In 2024, Boskalis acquired theremaining 50% stakeintheSmit Lamnalco joint venture it did not already own, andtowage activities were fully consolidated for H1 2025 results.
The Dutch maritime group confirmed it has signed an agreement to sell Smit Lamnalco activities in Australia and Papua New Guinea subject to approval by authorities and regulators.
The remaining Smit Lamnalco business is characterised by long-term contracts for clients primarily in the Middle East and West Africa.
Smit Salvage had a busy H1 2025, with assignments in the Middle East, Vietnam and the North Sea, which included two Lloyd’s Open Form contracts.
In the Middle East, Smit was called upon to extinguish a fire on a container ship, while in Vietnam, a salvage team assisted a cargo ship following a collision. Smit was also involved in the emergency response of the collided Stena Immaculate in the North Sea and was active in a wide variety of smaller projects worldwide.
