Royl.Boskalis Share Discussion Threads

[grupo guitarlumber] 07/8/2009 13:41

Smit: no more talks on takeover by Boskalis
Thursday 06 August 2009

Port services group Smit International has not discussed a takeover by dredging concern Boskalis since December, reports the Financieele Dagblad on Thursday.

The comment came during the presentation of the company's half year results, says the paper. Smit CEO Ben Vree said although there is contact with Boskalis, which has a 25% stake in the company, there are no on-going talks about a takeover.

In September last year Boskalis made a bid to take over Smit for over €1.1bn. The offer was rejected as too low by Smit. Boskalis has continued to express its interest but Smit has declined invitations to negotiate, reports the FD.

Smit announced net profit of almost €52m in the first half of 2009 (including a one-off €10m windfall), up from nearly €48m a year earlier.

Vree said the company has been hit by the recession but that none of its long-term contracts have been cancelled.


© DutchNews.nl

[ariane] 01/8/2009 16:43

Maritime Journal » Archive » 2009 » August » Marine Civils by David Foxwell » Coastal defence projects for Van Oord
Marine Civils by David Foxwell
Coastal defence projects for Van Oord
30 Jul 2009

Van Oord has been awarded two project contracts to reinforce coastal defences in The Netherlands. The first project involves sand replenishment along the coast in the Voorne region, where trailing suction hopper dredgers will deposit more than 2.2 million m3 of sand. The client is the Hollandse Delta Water Board. The project is scheduled to be completed in the spring of 2010.

Van Oord is reinforcing sections of the Dutch coast under 'Weak Links' public works programme. The second project involves reinforcing the coastal defences in Zeeland (Zeeuws-Vlaanderen region) and sand replenishment at Nolle-Westduin (in the Walcheren region). More than 3 million m3 of sand will be deposited on the foreshore and beaches of Zeeuws-Vlaanderen.

Van Oord has joined forces with Boskalis on both projects, which are part of the Public Works' 'Weak Links' ('Zwakke Schakels') programme. So-called Weak Links are sections of coast that will need to be reinforced before 2020 in order to satisfy hinterland flood safety requirements in the event of a rise in sea level or an increase in storm frequency, and to meet new wave boundary conditions.

Van Oord finished reinforcing the Hondsbossche and Pettemer coastal defence this spring. It is currently reinforcing the Delfland Coast between Hoek van Holland and Scheveningen-Zuid. The work on this Weak Link must be completed by late 2011.

[ariane] 01/8/2009 05:50

Boskalis wins €90 million offshore project in Argentina
30 Jul 2009

A consortium of Royal Boskalis Westminster NV and Allseas Group SA has been appointed for the construction of a gas pipeline through the Strait of Magellan in Southern Argentina. The agreement was signed during an official ceremony attended by the President of Argentina, Cristina Fernández de Kirchner.
The agreement was signed by Nación Fideicomisos SA as Trustee of the Estrecho de Magallanes Trust and Work Principal. The agreement is worth approximately €180m, with the share for Boskalis amounting approximately €90m. The project is expected to be completed before the end of 2009.

The work consists of laying a new 24" undersea gas pipeline joining Cape Espiritu Santo and Cape Virgenes in waters outside the eastern mouth of the Strait of Magellan, Argentina.

The length of the undersea pipeline and shoreline sections is approximately 38km. The water depth (70m), strong currents and high tidal conditions create a challenging operating environment.

The pipeline is of significant strategic importance linking the gas fields in the south with the main gas network of Argentina. Boskalis will be responsible for the trenching and backfill of the pipeline in the nearshore area on both the northern and southern part of the crossing. Boskalis will also execute near shore pipe pulls and the landing of the pipeline. A jumbo trailing suction hopper dredger will be deployed for the project.

Boskalis has also been awarded a contract for the protection of a 7km stretch of coastline in Cotonou, Benin, West Africa. The project is due to start in the second half of 2009 and will be completed over a three year period.

It requires the refurbishment of an existing groin and the construction of seven new groins into the sea to prevent further erosion of the coastline. The refurbishment and construction will be carried out with dry earth moving equipment. The groins will be constructed using 600,000 tons of rock sourced from local quarries.

[grupo guitarlumber] 25/7/2009 18:05

DJ Eight Intl Oil & Gas Cos To Help Fund Argentina Pipeline
Fri. July 24, 2009; Posted: 05:02 PM
Are you looking to increase your ETF knowledge?
BUENOS AIRES, Jul 24, 2009 (Dow Jones Commodities News Select via Comtex) -- OXY | Quote | Chart | News | PowerRating -- Eight international oil and gas companies will provide most of the funding to build a $245 million natural gas pipeline in southern Argentina, the gas regulator, Enargas, confirmed Friday.
The companies include Apache Corp. (APA), BP PLC (BP)-controlled Pan American Energy, Petroleo Brasileiro SA (PBR), Occidental Petroleum Corp. (OXY), Tecpetrol, YPF SA (YPF), Total SA (TOT) and Wintershall AG (WSL.YY).

"The companies will put in some of the financing, the state will put in the other part," Enargas Spokesman Horacio Heugas said.

Heugas couldn't say how each company will be contribute to the 37-kilometer pipeline, which will connect two areas near the Straits of Magellan in southern Argentina.

A report by El Cronista newspaper Friday said the companies will provide $185.25 million while Enargas will add the rest. The bulk will come from Apache, Pan American, Petrobras, Wintershall and YPF.

The project will link Cabo Espiritu Santo in Tierra del Fuego Province and Cabo Virgenes in Santa Cruz Province with a 24-inch pipeline. The pipeline will be able to transport as much as 24 million cubic meters of gas per day, according to Enargas.

"This is a very important pipeline," said Heugas. "We haven't had a project like this for 30 years."

Heugas said the pipeline will help transport gas around Argentina and eliminate the need to import expensive liquefied natural gas from Trinidad and Tobago.

Argentina is currently paying around $12 or $13 per million British thermal units of LNG from Trinidad and Tobago to ensure supply for gas during the winter. That compares with a local market rate of just $2 and it's twice as much as Argentina pays to import gas from Bolivia.

"For a while the transportation problems will go away," said Heugas. "There would be no need to import LNG."

In June, the government announced that a consortium including Allseas Group and Royal Boskalis Westminster N.V. (BOKA.AE) had won the right to build the pipeline.

The pipeline will initially transport 7.6 million cubic meters until it becomes fully operational.

The project aims to allow Argentina to increase its on and offshore natural gas production in Tierra del Fuego at a time when gas shortages have forced the government to ration gas during periods of peek demand.

Argentina's energy infrastructure is heavily dependent on natural gas. Though demand has surged in recent years, thanks to booming economic growth, proven reserves of oil and natural gas have declined steadily, and no new major discoveries have been made in 15 years.

The government began rationing gas in 2004 and has cut gas to certain companies every year since. Amid cold temperatures last week, it curbed the flow of gas to industrial consumers.

Enargas said the cuts affected less than 4% of the 132 million cubic meters distributed around the country.

-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; [e-mail]

(END) Dow Jones Newswires

07-24-09 1702ET

[waldron] 25/6/2009 15:41

Boskalis Wins EUR35 Million Coastal Protection Project In Benin (Boskalis Westmin)





Edited Press Release

AMSTERDAM -(Dow Jones)- Royal Boskalis Westminster NV (BOKA.AE) announces Thursday it has been awarded the contract for the protection of a 7 kilometer stretch of coastline in Cotonou, Benin in Western Africa.

The contract was awarded by the Ministry of housing, environment and coastal protection of the Republic of Benin and has a value of more than EUR35 million. The project is due to start in the second half of 2009 and will be completed over a 3-year period.

The project requires the refurbishing of an existing groin and the construction of seven new groins into the sea to prevent further erosion of the coastline.

Company Web Site: www.boskalis.com

[waldron] 23/6/2009 07:45

Melbourne's waters keep getting deeper


Sunday marked the 500th day of operation of the Channel Deepening Project, Victoria's largest marine infrastructure project and the biggest and most complex in the Port of Melbourne's 150 year history.

Dredging operations as part of the project began on 8 February 2008. To date, some 19 million cubic metres of sand and silt have been removed, which equates to approximately 83% of the total amount to be dredged. The project remains within budget and on schedule for major dredging in Port Phillip Bay to be completed by 31 August.

Acknowledging the 500th day milestone, Stephen Bradford, CEO of Port of Melbourne Corporation said the solid progress of the project was testimony to the extensive planning and development phase by the Alliance with The Netherlands-based dredging company, Royal Boskalis Westminster, and to the volume of unprecedented environmental research undertaken prior to the CDP starting.

"We are pleased with the progress of the project to date. With the majority of the works completed we are on schedule, within budget and well on course to delivering this project within full compliance of environmental limits," Mr Bradford said.

"Works have been carried out with minimal disruption to users of the bay and we have seen no evidence to suggest dredging has impacted on its ecological health. From all accounts, the beaches are in good shape and there have been no significant effects on tides, currents and marine life.

"This is all in line with the years of scientific research we carried out prior to the project starting."

Mr Bradford added that PoMC would remain vigilant and continue to operate with a high level of diligence.

"Clearly, there is still work to do and we are focused on ensuring that we continue to meet the obligations set out in the project's rule book – the Environmental Management Plan."

Works involving minor dredging in the Yarra River as well as works on navigation aids, berths and services protection are scheduled for completion by year's end. Channel deepening will modify the shipping channels enabling access for ships of up to 14 metres draught in all tidal conditions in the bay and Yarra River. Currently, the maximum draught is 11.6 metres without tidal assistance. The most recent March Quarter saw approximately 60% of container vessels having draught of greater than 11.6 metres.

"This project will allow more ships now using the Port to utilise their full draught as well as to facilitate an incremental increase in the size of ships entering the port," Mr Bradford said.




Tags:
channel-deepening-projectport-of-melbourneseafreight

[Tue 23/06/2009 03:40:27]

[waldron] 22/6/2009 20:15

Boskalis wins € 90 million offshore project in Argentina
(22/06/09 08:09 CET)

Papendrecht, 22 June 2009

A consortium of Royal Boskalis Westminster N.V. and Allseas Group S.A. has been appointed for the construction of a gas pipeline through the Strait of Magellan in Southern Argentina. The agreement was signed during an official ceremony attended by the President of Argentina, Mrs. Cristina Fernández de Kirchner. The agreement was signed by Nación Fideicomisos S.A. as Trustee of the Estrecho de Magallanes Trust and Work Principal. The agreement is worth approximately € 180 million, with the share of Boskalis amounting approximately € 90 million. The project is expected to be completed before the end of 2009.

The work consists of laying a new 24-inch undersea gas pipeline joining Cape Espiritu Santo and Cape Virgenes in waters outside the eastern mouth of the Strait of Magellan, Argentina.
The length of the undersea pipeline and shoreline sections is approximately 38 kilometers. The water depth (70 meters), strong currents and high tidal conditions create a challenging operating environment. The pipeline is of significant strategic importance linking the gas fields in the south with the main gas network of Argentina.

Boskalis will be responsible for the trenching and backfill of the pipeline in the near shore area on both the northern and southern part of the crossing. Boskalis will also execute near shore pipe pulls and the landing of the pipeline. A jumbo trailing suction hopper dredger will be deployed for this project.

The Boskalis strategy is designed to benefit from the key macro-economic drivers that are fueling global demand in our selected markets: global trade, increasing energy consumption, expanding population pressures and the challenges of changing climate conditions. This offshore project reinforces the requirement for infrastructure to accommodate the strong demand for energy resources.

This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bron : BOSKALIS WESTMIN Provider : Hugin

[grupo guitarlumber] 11/6/2009 05:53

Felixstowe South emerges from the sea
10 Jun 2009

The first phase of reclamation work at the UK's Felixstowe South development has been completed, with 750,000 cu m of unsuitable material removed and 1.7 cu m of sand placed on site by Westminster Dredging, part of the Royal Boskalis Group.


Felixstowe South aerial progress 30 March 09 032 (3)

[grupo guitarlumber] 10/6/2009 18:50

Majority of Boskalis shareholders elects stock dividend
(10/06/09 14:31 CET)

Papendrecht, 10 June 2009

Royal Boskalis Westminster N.V. announces that almost two thirds (64.8 percent) of the shareholders have elected for a stock dividend distributed in the form of ordinary shares. In connection with this, Royal Boskalis Westminster N.V. has issued 3,832,322 new shares (with a nominal value of EUR 0.80 each) bringing the total number of outstanding shares to 89,631,683.



This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail.

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. Boskalis provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including 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 10,000 employees.

For further information please contact:

Martijn L.D. Schuttevâer
Director of Investor Relations & Corporate Communications
Telephone: [phone]
Telefax: [phone]
E-mail: [e-mail]

This press release can also be found on our website www.boskalis.com
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bron : BOSKALIS WESTMIN Provider : Hugin

[waldron] 05/6/2009 18:04

SELL. Boskalis
woensdag 03 juni 2009Auteur:
Petercam verlaagt het koersdoel voor Boskalis (18,3 euro) van 18 euro naar 16,5 euro.

[waldron] 05/6/2009 18:01

5:33PM 2009.06.05 (GMT+1)
Boskalis sets stock dividend conversion rate at 1:14.5

Papendrecht, 5 June 2009

On 14 May 2009 the dividend of Royal Boskalis Westminster N.V. for 2008 was set at € 1.19 per ordinary share with a choice of stock or cash dividend.

With the dividend distribution as stock, shareholders will receive 1 new ordinary share per 14.5 dividend rights of ordinary shares. The conversion rate has been based on the volume weighted average stock price of Boskalis shares traded on NYSE Euronext Amsterdam over the period 3, 4 and 5 June 2009. The value of the stock dividend is virtually the same as the value of the cash dividend based on the 1:14.5 conversion rate and an average share price of € 17.39.

Both the cash and stock dividend will be made payable from Wednesday 10 June 2009. Cash distribution will be subject to deduction of dividend tax as required by law.

This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail.

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. Boskalis provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including 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 10,000 employees.

For further information please contact:

Martijn L.D. Schuttevâer
Director of Investor Relations & Corporate Communications
Telephone: [phone]
Telefax: [phone]
E-mail: [e-mail]

This press release can also be found on our website www.boskalis.com
Attachments:
PDF version of this press release


Royal Boskalis Westminster N.V. HUGIN Online

[waldron] 16/5/2009 10:49

Boskalis trading update
(14/05/09 14:09 CET)

Papendrecht May 14, 2009


Developments in 2009 to date at Royal Boskalis Westminster N.V. are in line with expectations.

Revenue comparable with the same period last year
Equipment utilization down slightly on last year
Order intake comparable with the same period last year
Order book down slightly compared to year-end 2008
2009 full year earnings are expected to be lower than the record level of 2008


Review of operations
So far in 2009, Royal Boskalis Westminster N.V. has booked revenue comparable with the same period in 2008. The utilization rate for the equipment was down slightly on last year, mainly as a consequence of a number of planned large repairs.

In recent months, Boskalis acquired contracts with a broad spread across the various market segments and geographic regions. Early this year, three oil- and gas-related contracts came in for projects in Europe and the Middle East. Boskalis also won contracts for the expansion of, among others, the ports of Nassau (Bahamas) and Gijon (Spain). Recently, the contract was signed for the large-scale clean-up of the Fox River in the USA. The value of the incoming orders in the early months of 2009 was comparable with 2008. Historically, the level of incoming orders in the first six months of the year is less than a third of the annual total. On balance, the order book was down slightly compared to the level at year-end 2008.
In late 2008, the order book was cleared of projects that are no longer expected to be executed or are expected to suffer significant delay. Since then, there have been no developments meriting further adjustments to the order book.

The financial position of Boskalis continues to be strong. The company is net debt free and has a solid cash position.

Peter Berdowski, CEO:
"In the first four months of this year, we reaped the fruits of our selective contracting strategy over the past few years. Thanks to that policy, the order book was well-filled, above all with a broad spread of work, at the start of the year. As a result, revenue and the utilization rate for the fleet are up to scratch. The margins for the work in progress are healthy, although there are considerably fewer cherries to be picked relative to the last two years. Order intake was at the same level as last year, but clients are becoming increasingly cautious about their investment decisions."




Smit International N.V.
On January 29, Boskalis announced that it increased its holding in Smit Internationale N.V. to 25.07%. The interest that Boskalis has expressed in parts of Smit ensues from its value-driven growth strategy. Boskalis is mainly interested in the Smit businesses that fit within this strategic framework. By acquiring the terminal activities of Smit, Lamnalco can become a global market leader in terminal services. Besides this, Boskalis can extend and strengthen its rapidly growing and attractive offshore business with Smit.


Supervisory Board
Mr R.M.F. van Loon resigned his position as Chairman and member of the Supervisory Board on 17 March 2009 for health reasons. Mr H. Heemskerk took over from Mr Van Loon as the Chairman of the Supervisory Board.


Outlook
Boskalis has a well-filled order book with a broad spread and expects the equipment to be well utilized in 2009. Revenue for 2009 as a whole is expected to be comparable to 2008. 2009 full year earnings will be lower than the record level of 2008.

Boskalis will announce its 2009 half year results on 20 August 2009.

This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail.

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. Boskalis provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including 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 10,000 employees.

For further information please contact:

Martijn L.D. Schuttevâer
Director of Investor Relations & Corporate Communications
Telephone: [phone]
Telefax: [phone]
E-mail: [e-mail]

This press release can also be found on our website www.boskalis.com This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bron : BOSKALIS WESTMIN Provider : Hugin

[waldron] 14/5/2009 15:47

Boskalis CEO: Ambition To Buy Several Smit Units





PAPENDRECHT, Netherlands -(Dow Jones)- Dutch dredging company Royal Boskalis NV (BOKA.AE) still wants to acquire several units of Smit Internationale NV (SMIT.AE), Chief Executive Peter Berdowski said Thursday.

Addressing the annual shareholders meeting, Berdowski said Boskalis will try to buy parts of Smit "in the coming period."

Earlier Thursday, Boskalis said in a trading update that revenue so far this year was around the same level as last year, and it reiterated it expected lower full-year net profit. It added clients are increasingly cautious about their investment decisions.

Smit Internationale Chief Executive Ben Vree told Dow Jones Newswires that there haven't been any takeover talks with Boskalis lately and that he considers it a closed chapter.

-By Maarten van Tartwijk; Dow Jones Newswires; [phone], [e-mail]

[waldron] 14/5/2009 14:27

Boskalis Revenue Flat But Clients Become More Cautious (Boskalis Westmin)





By Robin van Daalen
Of DOW JONES NEWSWIRES

AMSTERDAM -(Dow Jones)- Dutch dredging company Royal Boskalis Westminster NV (BOKA.AE) Thursday said revenue so far this year was around the same level as last year, and it reiterated it expected lower full-year net profit.

It added clients are increasingly cautious about their investment decisions.

"In the first four months, we reaped the fruits of our selective contracting strategy over the past few years," said Chief Executive Peter Berdowski. He added margins for the work in progress are healthy, although there are "considerably fewer cherries to be picked relative to the last two years."

The company said its order book slightly decreased compared to last year. At the end of 2008, the order book was cleared of projects that are no longer expected to be executed or are expected to suffer significant delay.

While revenue for the full year is expected to be in line with 2008, Boskalis repeated it expects profit to decrease.

At 1247 GMT, its shares traded down EUR0.34, or 2%, at EUR16.97 while the benchmark AEX index traded down 0.7%.


-By Robin van Daalen; Dow Jones Newswires; [phone]; [e-mail]

[waldron] 13/5/2009 19:54

source: the bahamas journal


May 13th, 2009
Habour Dredging Will Not Affect Cruise Ship Arrivals
By Sasha L. Lightbourne
Minister of Tourism, Senator the Hon. Vincent Vanderpool-Wallace indicated that while dredging the harbour is "long overdue," it will not affect cruise ships coming into port.
"Needless to say, there will be some difference in the harbour with it looking a little bit different but it will not impair the availability of berths and all the things that need to happen...as we get prepared to handle some of the bigger ships later this year," Mr. Vanderpool-Wallce told The Journal recently.

The groundwork for the proposed Nassau Harbour Improvement Project is expected to begin before the end of this month, while the actual dredging is scheduled for next month.

The government signed a near $50 million contract last month with Boskalis International Contractors, which is based in the Netherlands.

According to the tourism minister, the Nassau Harbour Improvement Project will entail dredging of 1.9 million cubic yards of material from Nassau Harbour, the construction of three mooring dolphins at the Prince George Wharf and a 1,000-foot extension at the western end of Arawak Cay.

"It will also use some of the dredged material to extend the northern coast of New Providence from East Street to Armstrong Street, by up to 30 feet into the water," he said. "This is expected to create an additional one-mile of waterfront promenade to the Woodes Rodgers Wharf."

Repairs will also be undertaken to Prince George Wharf piers and connecting bridges, with new bulwarks set to be installed to accommodate the Genesis Class Vessels, some of the largest cruise ships in the world, and a new security screening building and support facilities are also to be constructed on the wharf. This complementary work extending Woodes Rodgers Wharf is expected to cost an additional $24 million.

According to Boskalis International Director Harry Sands, his company will begin flying in their workers by the middle of the month, lay their pipelines this month and start dredging in June or July, with the total works to be completed about 15 weeks later.

"This is a good move for us," Senator Vanderpool-Wallace said. "We need this and in the long run, we will benefit because we will be able to handle the bigger ships and bigger ships mean more tourists and more tourists mean more money and more money is always a good thing."

[grupo guitarlumber] 05/5/2009 15:04

Boskalis Wins Over EUR100 Million Contracts In Spain And US (Boskalis Westmin)





AMSTERDAM (DOW JONES)--Royal Boskalis Westminster N.V. (BOKA.AE) announces Tuesday it has been awarded contracts of more than EUR100 million in the United States and in Spain.

In the United States a contract has been awarded by the Fox River Cleanup Group to desand and dewater PCB bearing river sediment of the Fox River in Wisconsin (USA). The project is worth between $600 and $700 million in total; Boskalis' share of the work will account for approximately $120 million. The project will be completed over the next seven years.

In Spain Boskalis has acquired a contract for the expansion of the harbor of Gijón, Spain. The project will be executed in a partnership with Van Oord. The client is Autoridad Portuaria de Gijón. The contract value is approximately EUR65 million, with the share of Boskalis being approximately EUR35 million.

Company Web Site: www.boskalis.com

[grupo guitarlumber] 03/5/2009 07:44

Local developer Nakheel has invited selected contractors to express interest in a contract to design and build a cruise terminal at its Port Rashid development in Dubai.

[grupo guitarlumber] 05/4/2009 08:10

mid April 2009 - Publication of Annual Report 2008


May 14, 2009 - Trading update on first quarter of 2009


May 14, 2009 - Annual General Meeting of Shareholders


May 18, 2009 - Ex-dividend date


May 20, 2009 - Dividend record date (after market close)


June 2, 2009 - Final date for stating dividend preference - cash or stock


June 5, 2009 - Determination and publication of conversion rate for stock dividend


June 10, 2009 - Date of dividend payment and delivery of shares


August 20, 2009 - Publication of half-year results

[waldron] 03/4/2009 10:58

Prime Minister gives remarks at Nassau harbour port improvement project contract signing ceremony
Thursday, 02 April 2009 16:49
REMARKS BY THE RIGHT HONOURABLE HUBERT A. INGRAHAM, MP, PRIME MINISTER OF THE COMMONWEALTH OF THE BAHAMAS
ON THE OCCASION OF THE CONTRACT SIGNING CEREMONY FOR THE LAUNCH OF THE NASSAU HARBOUR PORT IMPROVEMENT PROJECT
ON THURSDAY, 2ND APRIL, 2009, BRITISH COLONIAL HILTON HOTEL, NASSAU, THE BAHAMAS

I am pleased today to join you for the official launch of the Nassau Harbor Port Improvement Project with the signing of a contract between Boskalis, a leading maritime infrastructure and dredging contractor in the Netherlands, and the Government of the Commonwealth of The Bahamas.

The value of the contract that is being awarded to Boskalis is $44,213,366 with contingency funding in the amount of $6,600,000. The project will entail:

(i) Dredging of 1.9 million cubic yards of material (rock) from Nassau Harbour,
(ii) Construction of three mooring dolphins at the Prince George Wharf, and
(iii) Extension by 1,000 feet in length of the western end of Arawak Cay using the dredged material along with steel sheet piles.

Some of the dredged material will also be used to extend the northern coast of New Providence from East Street to Armstrong Street some 20-30 feet into the water. This will create an additional one mile of waterfront promenade to the Woodes Rodgers Wharf.

This scenic pedestrian promenade will include a boardwalk, landscaping, service road and utility corridor is a component of the Nassau downtown redevelopment project. The promenade is expected to facilitate both the downtown retail sector and promote the reintroduction and restoration of desirable residential communities in our capital city.

This complementary work extending Woodes Rodgers Wharf is expected to cost an additional $24 million.

Additionally, repairs will be undertaken to the Price George Wharf piers and connecting bridges; new bollards are to be installed to accommodate the new larger genesis class cruise ships; and a new security screening building and support facilities are also to be constructed at Prince George Wharf.

Today's contract signing comes on the heels of the completion of the financing for the first phase of the redevelopment of the terminal redevelopment at the Lynden Pindling International Airport.

Financing for stage one of the terminal redevelopment project, totalling $265 million, was funded to Nassau Airport Development's (NAD's) accounts on Monday, March 30th, permitting contract awards to commence construction.

We were pleased that three banks operating in and from The Bahamas arranged this funding facility. I wish to acknowledge the good work of the Royal Bank of Canada, the depository bank for the collateral, First Caribbean International and CIBC Trust as on-shore collateral and local placement agents, and Citibank, project advisor, lead arranger and off-shore collateral agent.

Stage one of the redevelopment which comprises: the new 247,000 square foot US departure terminal; one million square feet of paved apron surface on the airside of the facility; and, a new parking access roadway and landscape on the landside of the terminal, is budgeted at $198 million. Completion is scheduled for March 2011.

The entire project including stage two (international arrivals) and stage three (international and domestic departures and domestic arrivals) is scheduled to be completed by November 2013 with a total construction cost for all three stages of $409.5 million.

Ladies and Gentlemen:

We are moving deliberately to implement our plans to upgrade our national infrastructure. Already significant work is underway on the New Providence Road Corridor Improvement Project which resumed last fall.

One of the important results of these projects will be a significantly improved physical environment which will alleviate many of the transportation and traffic frustrations too long endured by residents and visitors alike.

And, of course, the projects not only provide legitimate job creation opportunities for our people but opportunities for skills training and technology transfer between foreign experts and Bahamian professionals, skilled and unskilled individuals engaged on the projects.

We are very pleased that the contract we sign today will enable us to welcome into Nassau Harbour the largest sea-going cruise ships: the Genesis Class Vessels.

As has been noted, Cox and SHAL were engaged to provide design, tender and contract supervision for the duration of the proposed project which also included compiling supplementary information relative to the dredging site, dredging method and environmental impact. In this regard, the investigative component comprised sub-consultancies for:

• Hydrographical surveys by Hydrographic Consultants Ltd., Texas, U.S.A;

• Geotechnical investigations by TROW, Canada;
coastal analysis by Baird, Canada, and

• Environmental impact assessment by Blue Engineering, Bahamas.

The coastal analysis has indicated minimal change to beaches and tidal flow as a result of the deepening of the harbour.

There has also been no indication of potential adverse effects on the Western Esplanade beach from dredging activities. However, the Ministry of Public Works & Transport will monitor the area for the duration of the project.

The Environmental Impact Assessment has recommended the storage of fish and conch at alternate sites for the duration of the project. Turbidity levels will be within the standards of the Florida Environmental Protection Agency.

However, the BEST Commission has under review a proposed system of "active de-watering" for disposal of discharge water that has the potential to produce reduced levels of visible turbidity at the discharge location, a system that was used recently by the contractor in other project locations.

Noise pollution has been deemed negligible and should not create any discomfort for individuals who work nearby. The contractors were advised of the various requirements of the project, and were also informed of the need for unimpeded movement of ship traffic (commercial and pleasure craft) within the harbour.

I am informed that additional studies conducted included:

• Firstly, ship movement simulations, which were provided by RTM STAR Center to verify, dredge area limits for the safe entry and berthing of the mega cruise ships in all weather conditions.

This exercise was undertaken in conjunction with cruise line operators, the Port Department, Nassau Harbour Pilots and the Engineering staff of the Ministry of Public Works & Transport.

• Secondly, mooring analysis provided by cruise line operators. This analysis will guide the placement of the mooring dolphins and the necessary bollards for the proper berthing of the mega cruise ships.

Ladies and Gentlemen:

Meetings have also been conducted with a diverse group of stakeholders including those on whose activities the project will have some impact. The meetings were designed to explain the scope of works to be undertaken, to receive input, and identify specific issues related to individuals who will be affected by the project.

The stakeholders include the Bahamas Hotel Association, Potter's Cay Vendors Association, Arawak Cay Vendors Association, Ministry of Tourism, Immigration Department, Customs Department, Ministry of Agriculture & Marine Resources, Ministry of Environment, BEST Commission, Port Department, Ministry of Health and cruise line operators.

It is anticipated that the dredging activities will be completed by 30 November, 2009, to accommodate the arrival in The Bahamas of one of the first of Royal Caribbean International's mega cruise ships, Oasis of the Seas on its maiden voyage in December, 2009.

Ladies and Gentlemen:

I take this opportunity to congratulate the management team of Boskalis on the award of the contract. I should also like to thank Cox & SHAL consultants along with the staff members of the various Government agencies for the part they have played in the advancement of this project to the present time.

This initiative to dredge the Nassau Harbour along with the replacement and installation of bollards at Prince George Dock, the construction of a new straw market, the restoration of the historic Supreme Court Building, and the advancement of plans for an authentic Bahamian craft market will all contribute to the revitalization and improvement of the Bay Street and downtown area of Nassau.

Thank you!

[waldron] 03/4/2009 08:49

Boskalis Wins Cruise Terminal Pact In The Bahamas (Boskalis Westmin)





Edited Press Release

AMSTERDAM (DOW JONES)--Royal Boskalis Westminster N.V. (BOKA.AE) has been awarded the contract for the extension of the cruise terminal in Nassau from the Ministry of Works and Transport of the Government of the Bahamas.

The contract is worth approximately USD44 million and the project will be completed in the first six months of 2010.

To handle the latest generation of mega-cruisers of the "Genesis" class, the Government of the Bahamas has ordered the port's cruiser terminal to be extended. Part of the extension must be completed by late 2009 in order to welcome Royal Caribbean's mega-cruise vessel "Oasis of the Seas".

Company Web Site: www.kpn.com

[waldron] 26/3/2009 18:32

source: constructionweekonline.com

Dubai slowdown forces Van Oord to relocate staff


Elsa Baxter March 24th, 2009
See photos of the Palm Deira site

A slowdown in UAE water development projects has forced dredging company, Van Oord, to relocate a majority of its Dubai-based staff to work in other parts of the world.

The company worked on 10 projects in Dubai in 2008, including the construction of Palm Deira, Dubai Promenade, Dubai Maritime City Ferry Terminal and the Arabian Canal.

"By the end of the year, the global economic crisis had impacted the Dubai projects, all of which were slowed down by our clients," the company said in a statement on its website. "The dip in activity has led us to cut down considerably on our organisation in Dubai."

In 2008, the company had 1900 staff and 10 ships in Dubai. Now, staff numbers have been reduced and only one ship remains.


"We were able to transfer our internationally deployable employees to projects elsewhere. Many of the local employees were made redundant. We were able to deploy most of the vessels elsewhere in the world," the statement added.

Van Oord also worked on the Sohar port development project in Oman, which was completed in late 2008, and was also involved in constructing a new port at Ras Laffan in Qatar.

The firm is currently working on a new access channel in the Dead Sea along the Jordanian coast.