Annual r eport 2002 Annual r eport 2002 - Boskalis
Annual r eport 2002 Annual r eport 2002 - Boskalis
Annual r eport 2002 Annual r eport 2002 - Boskalis
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Company profile<br />
Trailing suction hopper dredger<br />
Coastway and the backhoe<br />
Nordic Giant at work in the port<br />
of Gothenburg, Sweden.<br />
This large project includes the<br />
redevelopment, broadening and<br />
deepening of the main fairways<br />
of this port and will last until<br />
early 2004.<br />
Creation of land in water. The global population is still increasing and economic centres are congested<br />
and overpopulated. Solutions for the increasing scarcity of available land are being sought in the<br />
creation of new land. <strong>Boskalis</strong> plays a prominent role here. It uses jumbo trailing suction hopper<br />
dredgers to generate a favorable ratio of cost price to market price per square meter of new land.<br />
Coastal defense and riverbank protection. Here also, <strong>Boskalis</strong> expects continuing market growth<br />
given the intensification in the global focus on environmental protection. The market will also benefit<br />
from the ongoing growth of tourism.<br />
Related activities<br />
In addition to these core activities, <strong>Boskalis</strong> is involved in a range of related activities (the ‘dredging-plus’<br />
activities), such as offshore services, gravel and sand trading, soil improvement, dry earth moving,<br />
environmental activities, munitions clearance, underwater rock fragmentation, pipeline construction<br />
and hydraulic engineering. These activities extend our range of services, and the margins are generally<br />
attractive.<br />
Markets<br />
The global dredging market consists of numerous submarkets with individual development patterns.<br />
This means that the market as a whole is heterogeneous, with varied patterns of market dynamics.<br />
The annual volume of sales on the global dredging market is approximately € 7 billion and it continues<br />
to increase by approximately 5% a year. Half of these sales (approximately € 3.5 billion) are made to<br />
reasonably open markets. Five large Western European dredging companies account for approximately<br />
60% of operations in these open markets, with roughly 40% of ‘free sales’ going to large numbers of<br />
smaller regional and local players. With a share of approximately 20%, <strong>Boskalis</strong> is the market leader in<br />
the open market segment. In less open markets, dredging work is generally done by local players or<br />
state companies and there are no openings for private international dredging companies like <strong>Boskalis</strong>.<br />
The last decade saw extensive deregulation of global trade and economic development in traditionally<br />
closed markets. As a result, the free market has expanded in favor of professional dredging companies,<br />
which can provide economies of scale and competitive cost levels. Major factors in terms of access<br />
to the global dredging market are scale, professional staff, technical know-how, a flexible fleet, cost<br />
leadership and financial strength.<br />
7 Royal <strong>Boskalis</strong> Westminster nv