Boskalis_CSR_report__2016

5 / 78

CSR 2016 – boskalis
5
An increasingly important part of our projects incorporate
innovative solutions for protecting biodiversity and preserving
natural environments. One of the results of our focus on the
environment is our successful Building with Nature program, which
adopts the natural system as a basic design principle. Partly on the
strength of the knowledge gained from this, we were
commissioned by the Dutch Society for the Preservation of Nature
(Stichting Natuurmonumenten) to execute one of the largest nature
restoration projects in Western Europe he
Marker Wadden is a group of artificial islands that will ensure the
ecological restoration and transformation of the Markermeer lake
into a dynamic area with a rich animal and plant life.
Impact of climate change
Climate change and the consequences thereof, such as rising sea
levels, are increasingly important topics for our sector and for
society. With much of the country below sea level, the Netherlands
has had to battle to fend off the ravages of the sea for centuries.
The Dutch expertise and skills in the field of delta technology and
hydraulic engineering are highly rated throughout the world.
Boskalis’ core business enables it to provide innovative adaptive
and mitigating solutions to combat the impact of climate change.
In the past year we started work on reinforcing the Wadden Sea
dike on the island of Texel as well as the dike between Eemshaven
and Delfzijl in order to protect the Dutch coast against flooding.
The reinforcement of the 33-kilometer long Markermeer dike and
the 25-kilometer Houtrib dike and our projects in the context of the
ill also contribute to flood prevention
in the Netherlands.
Boskalis had a very busy year in offshore wind with the installation
of foundations for the Wikinger an projects.
We furthermore strengthened our market position through the
acquisition of the offshore wind activities of VolkerWessels.
As a group, we continue to seek opportunities and innovative
ways to reduce our emissions. Together with our joint venture
partner Keppel we announced the investment in two innovative
LNG dual-fuel harbor tugs in Singapore. Last year we also took
our biofuel program one step further. This pilot project is aimed
at developing a drop-in biofuel that meets the most stringent
sustainability standards and can result in a sharp reduction in
emissions. Last summer our cutter suction dredger Edax achieved
good results with this type of fuel on the Marker Wadden project.
Adapting to the new reality
All the hard work and many new projects acquired during the
year could, however, not prevent more and more gaps from
appearing in our fleet schedules. Considering the prospects
going forward, we came to the inevitable conclusion that we have
to align the size of the fleet with the market. After a comprehensive
study we decided to take 24 vessels out of service: ten at Dredging
and fourteen at Offshore Energy. This was a difficult decision,
particularly for the 650 colleagues affected. In close consultation
with the Works Council we carefully completed the advisory
process and agreed on a fair social plan.
Safety and Quality
Since the launch of our No Injuries No Accidents (NINA) safety
program in 2010, our Lost Time Injury Frequency (LTIF) has fallen
significantly from 0.67 in 2010 to 0.08 in 2016. In our sixth NINA
year we once again made important progress expanding the
rollout of this global safety program. In addition, we introduced
the Mooring and Safe Mind workboxes containing practical
training methods and tools.
Great strides were also made with the development of our
new quality system, the Boskalis Way of Working. Aimed at
harmonizing various business processes and support systems,
the Boskalis Way of Working quality system will be introduced
in the course of 2017.
Preparing for the future
We expect the current market environment to persist in the coming
years. In order to respond to this outlook and to prepare ourselves
for the period that follows we have been working hard on our
2017-2019 Corporate Business Plan, the main points of which
can be found in
With the right focus and optimization of our existing business
portfolio we can successfully steer the company through this
difficult period. Results will be lower than in extremely profitable
previous years but our financial position is very strong and healthy
with nearly EUR 1 billion in cash at the end of 2016. We will
continue to generate a strong cash flow in the coming years
which, in turn, will provide opportunities. The CSR business case
will remain a key part of our operations in this respect.
On behalf of the Board of Management I want to thank all our
colleagues for their commitment and great efforts in 2016, as
well as our clients, partners and shareholders for the trust and
confidence they place in us.
Peter Berdowski