|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||27.06 - 27.66|
|52 Week Range||14.17 - 28.34|
|Beta (5Y Monthly)||1.19|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 04, 2021|
|Forward Dividend & Yield||0.50 (1.81%)|
|Ex-Dividend Date||May 14, 2021|
|1y Target Est||29.25|
Ever given Ever given Grounded container vessel Ever Given successfully refloated in the Suez Canal by expert salvage team of Boskalis subsidiary SMIT SalvagePapendrecht, 29 March 2021 Boskalis announces the successful salvage operation of the grounded 20,000 TEU container vessel Ever Given in the Suez Canal. With a length of 400 meters and a width of nearly 60 meters this giant ship had been wedged in this vital shipping route since 23 March 2021 blocking all shipping traffic ever since. Peter Berdowski, CEO Boskalis: “Shortly following the grounding of the Ever Given we were requested through SMIT Salvage to provide assistance with the salvage operation. I am excited to announce that our team of experts, working in close collaboration with the Suez Canal Authority, successfully refloated the Ever Given on 29 March at 15:05 hrs local time, thereby making free passage through the Suez Canal possible again. I’m extremely proud of the outstanding job done by the team on site as well as the many SMIT Salvage and Boskalis colleagues back home to complete this challenging operation under the watchful eye of the world. The time pressure to complete this operation was evident and unprecedented and the result is a true display of our unique capabilities as a dredging and marine services provider.” For the refloating of the 224,000-ton container vessel approximately 30,000 cubic meters of sand was dredged to help free the vessel and a total of eleven harbor tugs and two powerful seagoing tugs (Alp Guard and Carlo Magna) were deployed. The vessel is towed to a location outside the channel for further inspection. FOR FURTHER INFORMATION Investor relations:Martijn L.D. Schuttevâerir@boskalis.com Press:Arno Schikkerpress@boskalis.com T +31 786969310Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage and Smit Lamnalco). With a versatile fleet of more than 700 vessels and floating equipment and 9,600 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com. Attachments Boskalis salvage Suez canal 29032021 Ever given
(Bloomberg) -- Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here.The company battling to dislodge a ship that’s blocking the Suez Canal said a crane will arrive at the location this weekend to begin the painstaking process of removing some of the vessel’s cargo in a bid to help it refloat.The Ever Given, a 400-meter long container ship with almost $1 billion of cargo on board, jammed itself fast into the banks of the waterway on Tuesday, and estimates for it to be freed have now risen to over a week. Tug boats and dredgers have made a little progress, but the urgent need to restart the canal means thousands of the carrier’s steel boxes need removing as soon as possible so that the carrier sits higher in the water.“We are awaiting the arrival of a crane with which we can lift containers from the ship,” Peter Berdowski, chief executive officer of Boskalis Westminster, the parent company of the salvage team SMIT, said on Dutch television on Friday. “We will start taking containers from the ship anyway this weekend.”The pressure is on to get the ship floated and out of the way as soon as possible. The blockage is holding up something like 10% of global trade and a swath of imports that are critical to Europe’s supply chains and industry. Scores of ships have already decided to go the long way around -- passing the southern tip of Africa -- also depriving Egypt of vital revenue.PrecedentThere is precedent for a lightering operation. Back in November 2004, another vessel, this time a Suezmax-class oil tanker named Tropic Brilliance, ran aground after mechanical problems in the canal, wedging itself across the conduit in a similar way to the Ever Given. Canal authorities were forced to close the canal. In an almost carbon copy of events over the past three days, tugboats tried to use their immense pulling power to free the tanker, which was carrying 85,000 tons of fuel oil, but those efforts failed.Ultimately, salvage experts brought another tanker alongside, the El Nabila, and transferred roughly 22,000 tons of cargo. On the third day of the grounding, and lighter after the transfer, tugboats were able to free the Tropic Brilliance and reopen the canal. The grounding triggered what, until then, was one of the longest closures of the waterway in years.But lightering the Ever Given will be a different matter. The boxship can carry 20,000 twenty-foot equivalent containers. If salvage experts need to move the same proportion of cargo as they did to free the Tropic Brilliance, it would entail physically removing, one by one, about a quarter of the boxes, an operation that will take days.Helicopter OptionAnother option mooted for this lightering process was to deploy powerful helicopters that could take off the boxes -- each one potentially holding up to 22 tons of cargo. They would be hugely expensive, costing an upfront fee and an hourly rate that can get up to $20,000, according Joseph Farrell III, director of business development at Resolve Marine, a company that offers salvage services. He declined to comment about Ever Given specifically.Air lifting could only be performed by a special type of aircraft called sky-crane helicopters that are able to haul loads of 25,000 pounds (about 12.5 tons), according to Nick Sloane, the salvage master responsible for re-floating the Costa Concordia, which capsized off Italy in 2012.“It is concerning that they haven’t gotten her out yet,” said Alan Murphy, CEO of Sea-Intelligence. “If there’s news that the hull has been breached, or they need to evacuate the boxes to get her free, then it’s a big-time problem.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- When you can’t shift a ship that’s stuck fast into the wall of a canal that’s vital to world trade, there’s only one thing to do: call the salvage guys.The Ever Given container ship -- a 200,000-ton behemoth -- has been blocking what is arguably the world’s most important waterway, the Suez Canal, since Tuesday morning.The struggle to dislodge it is now turning the world’s attention to the work of SMIT Salvage, a legendary Dutch firm whose employees parachute themselves from one ship wreckage to the next, saving vessels often during violent storms. The company is synonymous with some of the most daring naval salvages, including lifting a sunken Russian nuclear submarine in 2001, and removing fuel from inside the Costa Concordia cruise ship after it ran aground in Italy in 2012.SMIT, a unit of Royal Boskalis Westminster NV, is one of the companies appointed by Ever Given’s owner to help move the vessel. The first job will be to work out exactly how entrenched in the wall the ship is, said Boskalis spokesman Martijn Schuttevaer.“It will be critical to inspect the vessel and how deeply it is lodged in the embankment,” Schuttevaer said. “The question is how solidly she has been grounded.”The answer to that question will dictate what comes next. The salvors could have to find a way to lighten the vessel’s enormous weight so that it can be pulled to a less obstructive position. At the moment, it’s blocking the path of more than 100 vessels.The canal handles something like 10% of seaborne trade, spanning everything from finished goods to oil, gas, and dry-bulk commodities. And those cargoes aren’t flowing while the Ever Given is stuck.The process of making the ship lighter means removing things like the ballast water, which helps keep ships steady when they’re at sea. Fuel will probably have to be unloaded too, Schuttavaer said.In a worst-case scenario, it could be that some of the carrier’s containers -- usually filled with everything from furniture to televisions -- may have to be taken off. How long that process lasts would depend on how much equipment is around to do the heavy lifting. It can often involve flying in helicopters to remove the crates one by one.SMIT was due to fly an 8-person team in at dawn Thursday local time to board and inspect the vessel and the grounding. A big part of the initial underwater assessment is how much the banks slope at that point in the canal. Japan’s Nippon Salvage Co. has also been hired to assist in the re-floating, according to a person familiar with the matter.Such teams are usually led by a salvage master, often a former captain or someone with knowledge of the industry, but can also include divers, welders and crane operators, according to Joseph Farrell III, director of business development at Resolve Marine, another company that offers salvage services. He declined to comment specifically on the Ever Given.Stern TestPictures now seen across the globe of the vessel spread fully across the canal, point to the first major hurdle. It ran aground both at the front and at the back, almost perpendicular to the canal walls. That’s leaving very little room to simply tow it away from either end, SMIT says.For now, the focus is on dredging around the vessel. The canal authority has dispatched two of its dredgers, the Mashor and the 10th of Ramadan, to remove sand from underwater before rescuers attempt to pull it. From the shore, excavators are also working around the vessel. Western shipping experts who analysed photos of the Ever Given calculated that her protruding bulb was as much as 5 meters buried into the canal wall.Not everything in the grounding has been bad news. One thing that’s likely to make the process easier is that the ship has gotten itself stuck in sand, rather than rock. More malleable material around the Ever Given should make for a slightly smoother escape.There are already tug boats around the ship working to help with its removal, but with such a giant vessel, bigger ones with more horsepower are usually needed. Crews are hoping that periods of higher tide over the next few days will be conducive to helping free the Ever Given.Until then, the world’s commodity and maritime markets -- and the world trade they serve -- will be left hanging, waiting on the professionals to help shift a 200,000-ton ship.“There’s only a few companies in the world that do what we do,” said Farrell. “It’s a challenge, the container ships are always the biggest jobs.”(Adds details on Nippon Salvage in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.