Van Oord: Dredging market recovery continues

Van Oord said in their latest business report that the results for the Dredging Segment were satisfactory, with the 2021 market recovery continuing into 2022.

Consequently, revenue increased from EUR 727 million in 2021 to EUR 892 million in 2022, with increased capacity utilisation of the suction hopper dredgers in particular.

“We also saw an increase in winning tenders in 2022, from a total volume of EUR 843 million in 2021 to EUR 896 million in 2022,” said Van Oord.

Various new projects concern climate adaptation.

The project at Szczecin (Poland) for the access fairway, with two artificial natural-habitat islands, was also completed successfully.

Also, the revenue for the Netherlands in 2022 was higher than in 2021 (EUR 322 million in 2022, up from EUR 252 million in 2021). The volume of tenders awarded was EUR 255 million, up from EUR 163 million in 2021.

Agreement has been reached with our client Rijkswaterstaat (the Directorate-General of Public Works and Water Management) on the financial settlement and revised schedule for the Afsluitdijk project.

“Availability certification was obtained at year-end; we are proud of our contribution to this iconic project, in particular the speed with which the Afsluitdijk has been made water-safe on both the Wadden Sea side and the IJsselmeer side,” said Van Oord.

In Romania, Van Oord was awarded the contract for another coastal protection project near Constanța in 2022, with natural and nature-friendly solutions to protect against the Black Sea.

In April 2022, Van Oord signed the contract for a development project at Addu City in the Maldives. This involves creating 194 hectares of new land to protect the city from rising sea levels while providing opportunities for housing and economic development.

The project is in an ecologically sensitive area; an Environmental Impact Assessment has been completed and Van Oord is making efforts to ensure the most nature-friendly approach.