The Expand pillar of our strategy concentrates mainly on the Offshore Energy activity, which is focused on a large and structurally growing market segment with a potential project value of around EUR 60 billion in the period to end-2016. With a modest market share of just a few percent Boskalis has a great scope for growth.
Following the acquisition of Dockwise in 2013 (and previously SMIT) Boskalis is extremely well-equipped to supply global clients in the offshore energy sector with people and own equipment. In addition the combination of assets along with Boskalis’ project management experience and engineering knowledge enable an accelerated realization of the strategic ambition to carry out Transport, Logistics & Installation (TL&I) projects (see figure 7).
In the regions we are concentrating on there is a growing demand for new activities that allow us to apply our full range of expertise in the area of T&I. Examples include projects for the transport and installation of (fixed and floating) production structures for oil and gas, the construction of offshore wind farms and the decommissioning of obsolete offshore platforms.
We want to strengthen our position in the seven geographic focus areas. By leveraging our local presence and strong client relationships we are able to provide an ever-increasing range of services. For example at remote locations, where we are building large-scale maritime infrastructures, we see opportunities to also offer terminal and subsea services. We see major opportunities for developing a broader range of activities in the Gulf of Mexico and Brazil as well as in Northwest Europe. In Africa, where we have been successful in dredging and terminal services for many decades, we see opportunities for expanding our offshore activities to include transport and heavy lift. This way Boskalis is increasingly becoming a high-quality provider of maritime logistics services to the offshore sector.
The Expand strategy is specifically focused on:
Figure 6: Identified offshore energy and dredging projects
Figure 7: Growth opportunities in T, L & I
Boskalis has built up a strong position in dry heavy marine transport, for example for heavy offshore platforms and Floating Production, Storage and Offloading units (FPSOs). This market position will be selectively expanded with assets to further strengthen the broad Boskalis portfolio from wet towage to dry transport. The recent acquisition of Fairmount with its fleet of five large ocean-going tugs is an immediate example of this.
Boskalis sees opportunities for growth with existing and new clients, in particular in onshore developments at remote locations. There is a global requirement for logistics services in connection with the shipping and installation of for example prefab modules for LNG production. Boskalis leverages the opportunities in this sector by combining its broad knowledge of project management with its own specialist equipment.
The transportation and subsequent installation of facilities (T&I) is a large and interesting market where a great deal of knowledge and experience is required. It particularly offers Boskalis opportunities for employing its engineering knowledge, experience in risk management and its versatile fleet. In doing so it mainly caters to the top end of the market, with Boskalis contracting complex logistics and installation projects.
To ensure the successful implementation of the growth strategy in this sector the company will make selective investments in assets such as marine transport equipment and ships with installation technology as well as in competencies. In terms of transport equipment the main focus will be on optimizing the existing fleet, adding large barges (Smit Giant barges) and complementing the fleet with ocean-going tugs for wet heavy marine transport. For our installation technology portfolio we will invest in specific equipment for the support of offshore construction work (multifunctional construction support vessels and lifting capacity with an indicative capacity of 1,000 to 2,000 MT). The expansion of our fleet will be achieved through our own building program, in some cases in conjunction with third parties, or by acquiring existing equipment.
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