Annual r eport 2002 Annual r eport 2002 - Boskalis

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Mission, objectives and strategy Mission, objectives and strategy Transparent, consistent and result-driven. Mission Boskalis is always aiming to maintain and strengthen its leading position in the global dredging market. The company is committed to giving its shareholders excellent profitability and value creation. Boskalis wants to be an attractive employer, the customer’s first choice and a responsible citizen in the countries where it operates. Boskalis wants an optimal balance in its services between functionality and the demands of the environment. Objectives Boskalis’ main objective is structural growth in both operations and profitability. Financially, the goal is an average annual return on capital employed of at least 15%. Strategy The core Boskalis activity is dredging. The company also engages in related - ‘dredging-plus’ - activities, particularly in the home markets. These activities fit in with the core activities and core competences of the company. The corporate strategy consists of growth in the core activities and in the ‘dredging-plus’ activities, both autonomously and by means of acquisitions. Strategy for the core activity of dredging • maintain and, where possible, increase market share; • broaden and extend home market positions; • improve the competitive position, for example through investments in cost leadership; • continue efforts to achieve consolidation in the industry. Strategy for the ‘dredging-plus’ activities Active portfolio management in both home markets and specialist niche activities, for example by: • extending and expanding activities that contribute to the achievement of the growth target; • making the most of home market positions in the core activity for the extension of ‘dredging-plus’ activities. In most markets where Boskalis is active, there will be even more emphasis in the future on the competitive position. The lead given by its competitive position therefore plays a major role in the Boskalis strategy. The key to this position is continued innovative investment in: • staff quality, primarily in the form of training and competence management; • fleet innovations and fleet rationalization; • processing technology; • improvements in business processes; • the development and optimization of modern ICT systems. 9 Royal Boskalis Westminster nv
Robert de Vlaming, Regional Manager Boskalis Offshore Precision dredging with high-tech equipment The fallpipe vessel Seahorse is equipped with a grab that can work at depths up to 1,000 meters below the surface. The state-of-the-art steering system means that the grab can be kept in position within tolerances of only a few centimeters. More and more often, oil and gas are being drilled for in deep waters. The Grand Banks near Newfoundland, Canada are a case in point. In order to protect the underwater oil and gas drilling installations against passing icebergs, Boskalis Offshore dredges ‘glory holes’ here. These are nine-meter-deep pits the size of a football field. They are located in the seabed at a depth of 120 meters. The new grab was specially developed for this purpose. “Development and production took more than a year,” explains Robert de Vlaming, Regional Manager for Boskalis Offshore. “A great deal of very high-grade technology was used. For example, the positioning system contains technology that is used in the aerospace technology. Nevertheless, the grab can be controlled by a single operator on the bridge.” The grab, with the remote system, weighs 80 tons and it is lifted on board by a hydraulic hoisting frame (an A frame). Furthermore, a second hoisting point was installed on the Seahorse so that the grab can be moved over the full length of the ship using a winch. And then there is the ‘umbilical cord’. This line feeds the grab with electricity, and with data in three dimensions about the position of the ship and its movements. The three links ensure that close steering of the grab remains possible, even at large depths. The active swell compensation also positions the grab with respect to the movements of the ship so that work is still possible in heavy seas. 10 Annual Report 2002
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Page 7 and 8: Company profile Company profile We
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Page 45 and 46: The trailing suction hopper dredger
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Financial Statements 2002 Company b
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Financial Statements 2002 Explanato
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Financial Statements 2002 6. Commit
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Other information 5. The company ma
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Ten years Boskalis Ten years Boskal
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Left Paul van der Burg, specialist
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The world of Boskalis The world of
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Organization Operational staff depa
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Offices around the world Rock Fall
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Offices around the world Stuyvesant
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Glossary Glossary Acquired orders T
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Glossary The extended trailing suct
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The dredging work done by Boskalis
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