Royal Boskalis Westminster N.V.
TypeNaamloze vennootschap
Euronext: BOKA
IndustryConstruction, services
Founded1910 (1910)
FounderJohannes Kraaijeveld
Eliza van Noordenne
HeadquartersPapendrecht, Netherlands
Key people
Peter Berdowski (CEO), Herman Hazewinkel (Chairman of the supervisory board)
ProductsDredging, land reclamation, maritime infrastructure, offshore construction
Revenue€2.674 billion (2010)[1]
€401.9 million (2010)[1]
€310.5 million (2010)[1]
Total assets€4.315 billion (end 2010)[1]
Total equity€1.599 billion (end 2010)[1]
Number of employees
13,830 (end 2010)[1]
Websitewww.boskalis.com

Boskalis Westminster N.V. is a Dutch dredging and heavylift company that provides services relating to the construction and maintenance of maritime infrastructure internationally.[2] The company has one of the world's largest dredging fleets, a large stake in Smit International and owns Dockwise, a large heavylift shipping company.[3]

As of 2020, Boskalis employs around 9,900 employees and 650 ships.[4] They operate in over 75 countries in six continents.[5]

History

Boskalis (Bos & Kalis) was founded as Johannes Kraaijeveld en van Noordenne in 1910 by Johannes Kraaijeveld and Eliza van Noordenne. In the thirties it was renamed NV Baggermaatschappij Bos & Kalis when Gerrit Jan Bos, Wilhelm Bos, Egbertus Dingeman Kalis and Kobus Kalis took over. In between the two wars, Boskalis contributed to the Zuiderzee project. The company inked a contract in 1931 for the dredging of Bromborough Dock. In 1933, Boskalis partnered with the Westminster Dredging Company (based in Fareham, England), which opened business opportunities with West Africa.

Listing, developments 1970 to 2000

Boskalis became a public company in 1970.[6] Boskalis received the designation "Royal" in 1978.[7] In the 1980s economic and political circumstances forced Boskalis to concentrate on its core dredging business.[8]

More acquisitions followed in the 1990s as the company acquired a 40% interest in Archirodon Group.[9] During this period Boskalis was also involved in several major land reclamation projects. In Hong Kong the company worked on the major land reclamation project for the new Chek Lap Kok airport[8] and in Singapore it cooperated on a multi-year development program.[10]

Since 2000

In 2007 the company was engaged in two major contracts in Australia — a €300 million contract to deepen the shipping channels of Port Phillip in Melbourne, utilising its dredge the Queen of the Netherlands, and a €50 million contract to expand the harbour at Newcastle.[11][12] The company is also involved in a €1.1 billion contract to develop a new port in Abu Dhabi.[11]

Purchase of Smit and Dockwise

On 15 September 2008 Boskalis offered €1.11 billion for fellow Dutch maritime company Smit International.[13] Despite the offer being promptly rejected by Smit's board, Boskalis subsequently built a stake of over 25% in the firm[14] and expressed a continuing desire to buy a number of its business units.[15] A revised offer of €1.35 billion was accepted by Smit in January 2010, with Boskalis declaring its offer unconditional that March.[16]

In 2011 Boskalis acquired MNO Vervat in The Netherlands.[17] In 2013, Boskalis acquired Dockwise, a heavy marine transport company.

Suez Canal blockage

Two Boskalis tugboats helped the eleven Egyptian tugs in the dredging and towing operation to free the 400-metre long ship Ever Given, which ran aground in the Suez Canal on 23 March 2021, and got stuck diagonally and therefore blocked the Suez Canal from 23 till 29 March 2021 during which time the canal was impassable.[18] A traffic jam of around 400 ships was the result of the blockage of the canal.

Controversies

Boskalis has been informally accused of bribing Mauritian politicians to obtain the contract to dredge the Canal Anglais.[19]

See also

References

  1. 1 2 3 4 5 6 "Annual Report 2010" (PDF). Boskalis. Retrieved 3 April 2011.
  2. ↑ "Company Profile: BOSKALIS WESTMIN". NYSE Euronext. Archived from the original on 2011-05-17. Retrieved 2008-02-20.
  3. ↑ Dredging, Ciria.com
  4. ↑ Boskalis Annual Report 2020. NL: Annual report by Boskalis. 4 Mar 2021. Retrieved 4 Mar 2021.
  5. ↑ "About us". boskalis.com. Boskalis official website. Retrieved 2 May 2018.
  6. ↑ Boskalis' history Archived 2020-02-27 at the Wayback Machine, Boskalis.com
  7. ↑ Bouwens en Sluyterman, Verdiept verleden (2010) p.243
  8. 1 2 Bouwens en Sluyterman, Verdiept verleden (2010) p.323
  9. ↑ Bouwens en Sluyterman, Verdiept verleden (2010) p.397
  10. ↑ Bouwens en Sluyterman, Verdiept verleden (2010) p.361
  11. 1 2 Lucas, Clay; Ben Schneiders (2008-01-29). "Exposed: $500m bill for dredging". Melbourne: The Age. Retrieved 2008-02-19.
  12. ↑ "Boskalis wins 100 mln eur jv contract to expand coal export harbour in Australia". CNNMoney.com. 2008-01-22. Retrieved 2008-02-19.
  13. ↑ "Marine services company Boskalis to bid for Smit". CNBC. Associated Press. 15 September 2008. Retrieved 2008-09-15.
  14. ↑ Gray-Block, Aaron (2 February 2009). "Boskalis ups stake in Smit, could buy more shares". Reuters. Retrieved 2009-05-30.
  15. ↑ van Tartwijk, Maarten (14 May 2009). "Boskalis CEO: Ambition To Buy Several Smit Units". Dow Jones Newswires. The Wall Street Journal. Retrieved 2009-05-30.
  16. ↑ Roumeliotis, Greg (27 March 2010). "Boskalis clears Smit takeover milestone". Reuters. Retrieved 29 March 2010.
  17. ↑ "Boskalis completes acquisition of MNO Vervat". Archived from the original on 2016-04-03. Retrieved 2013-04-04.
  18. ↑ "Suez Canal: How are they trying to free the Ever Given?". BBC News. 2021-03-26. Retrieved 2021-03-26.
  19. ↑ BOSKALIS: A Relative Of Siddick Chady Accused Archived 2013-07-22 at the Wayback Machine, Mopays, 23 June 2012
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