Royal Boskalis Westminster, a Papendrecht based company operating in the dredging, maritime infrastructure and maritime services sectors, is making new capital investments in its fleet – centered around strengthening their position in the large and jumbo hopper segment.
Under the plan, Boskalis will modify and lengthen two large trailing suction hopper dredgers (TSHDs) this year.
The TSHD Prins der Nederlanden will be lengthened in the first half of 2022, followed by the TSHD Oranje .
The process involves cutting the vessel in half and the insertion of a new 45 meter middle section, resulting in a capacity increase to 21,000 cubic meters.
Boskalis already has previous experience in ‘extending’ hoppers with the successful lengthening of the Queen of the Netherlands and the Fairway many years ago.
During the lengthening, an overhaul and life extension program of each vessel is conducted.
Also, Boskalis will order two new jumbo trailing suction hopper dredgers.
The vessels are being designed to be ready to operate on future generation fuels such as methanol and will be more energy efficient than comparable current generation vessels.
The dredgers are expected to have a hopper capacity of approximately 25,000 cubic meters with a specific emphasis on a shallow-draught.
The first new vessel is expected to be delivered in 2024.
Most of these dredging vessels are co-designed by Boskalis in consultation with shipyards.
Dredging market developments
According to Boskalis, market developments are expected to increasingly require larger dredging vessels to operate in relatively shallow waters for port-related activities and for coastal protection purposes.
Based on a recent assessment of market developments during the next decade, the global dredging market for hopper and cutter dredger projects will have a contract value in the order of EUR 57 billion , with the bulk of the identified projects expected in the next five years, said Boskalis.
This outlook is slightly more positive compared to the market assessment conducted two years ago, which is also reflected in a higher cumulative order book of the industry, particularly providing an improved level of near-term visibility for the hopper vessels.
“I am optimistic and confident about the mid- to longer term period that lies ahead of us,” said Peter Berdowski, Boskalis CEO.
“The near-term market outlook is generally positive, albeit that the impact of current geopolitical developments in Eastern Europe are difficult to read.”
“We have a substantial role to play in the energy transition and providing sustainable solutions to many of the challenges facing today’s world.”
“Together with the best talent in our industry, we are creating sustainable new horizons,” concluded Berdowski.