Press release

Date: 15 November 2007

Dredging concern Royal Boskalis Westminster nv placed an order today with the Chinese shipyard Yantai Raffles Shipyard Limited for the construction of an offshore fallpipe vessel of 21,500 tons. The order is part of the multi-year fleet expansion program at Boskalis. The ship will be completed by spring 2011. The order involves an investment of approximately € 120 million.

The new ship strengthens the position of Boskalis in the energy markets. Fallpipe vessels are deployed to position rocks for the protection and support of oil and gas pipelines on the seabed. The new ship will be capable of working at considerably larger depths than existing vessels in this sector. Boskalis already owns two similar ships, the Sandpiper and the Seahorse, with a capacity of 18,000 tons each.

Boskalis has a modern fleet with trend-setting ships, a broad geographical spread, and activities in all market segments. The company has a multi-year fleet expansion program that will strengthen its position on a global market that is growing rapidly. The program involves a total investment of approximately € 850 million and besides this new fallpipe vessel it includes the construction of four hoppers with capacities varying from 5,600m³ to 12,000m³, the lengthening of the Queen of the Netherlands into a mega hopper of 35,500m³ and the construction of jumbo cutter Phoenix, as well as various other specialized ships for the energy markets. The ships will go into service between 2007 and 2011.

In addition, Boskalis is preparing for investments in a new generation of jumbo cutters that will be added to the company's fleet in the years to come, for replacement of older tonnage in the longer term.

Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. Its core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 8,000 employees.


For further information please contact:

Roel Berends - Corporate Relations
Telephone: +31 (0)78 69 69 822 / +31 (0)6 2001 0232
Fax: +31 (0)78 69 69 020
E-mail: r.t.berends@boskalis.nl

This press release can also be found on our website www.boskalis.com.

 

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