Fairway a Total Loss; Boskalis Orders Three New Dredges
At a general meeting of shareholders on May 9, the company management announced that they had signed a letter of intent with IHC Holland to purchase a new 40,000-cubic-meter trailing suction hopper dredge, and two other hopper dredges, each with a capacity of 12,000 cubic meters.
The investment in these new vessels will total €450 million.
The mega hopper will be completed in the spring of 2011, and the smaller hoppers will be completed in 2009 and 2011.
A constructive total loss of the W.D. Fairway means that Boskalis will receive insurance payments amounting to a total of more than €165 million. On balance, the financial settlement will lead to a positive result of approximately €85 million before taxation. In the early months of the year, the amount of acquired orders matched turnover, and the orderbook remained stable at approximately €2.5 billion.