Publication of Dredging in Figures 2010

Whilst the industry is certainly impacted by the dramatic changes in the declining global economic outlook, the dredging industry in 2010 has continued operations on new projects for port development and the offshore industry. For instance, without port expansion and maintenance, the so-called post-Panamax 18,000 TUE container vessels, on the drawing boards at the moment but operational very soon, will not be able to enter any port.

Although Dredging in Figures does not provide a specific outlook, it cannot ignore the potential imbalance between work in the near term versus the increased industry capacity which could create some uncertainty in the coming years. As a remedy to the credit crunch, many governments in 2009/10 intended to invest heavily in infrastructure. In reality, when liquidity became a serious problem, governments faced huge budget deficits. This resulted in more prudent financial policies.

Consequently investment decisions were postponed or cancelled. To what extent this will influence the activity level in the dredging industry in 2011/12 is as yet unclear. However, in the long term (over the next decade) the drivers of dredging show a positive development. International institutions such as IMF, OECD, UNCTAD and many others provide well-supported future outlooks on the drivers for the dredging industry.

Dredging can be characterised as a small, highly specialised, capital-intensive industry. The companies active in this industry are, however, in the process of broadening their operations and developing from sub-contractors to main contractors. This allows them to offer more comprehensive support to clients. Also, they are offering more varied career opportunities to their employees. The educational level of the employees at dredging companies is exceptionally high, with 40-50% having a bachelor's degree or higher.

This 2010 review analyses the development of the different industry drivers, the capacity figures for the main dredging equipment as well as the market turnovers specified in different regions and in types of projects. The estimated total turnover of global dredging contractors - private as well as state or port-owned companies - is estimated at €10,820m for 2010.

Dredging is vital to social and economic development, in particular to the construction and maintenance of much of the maritime infrastructure upon which worldwide economic prosperity as well as social and environmental well-being depends. Its impact on the global economy is in fact far larger than its effect on direct employment or industry turnover. It provides essential support services to ports, harbours, developers, the offshore industry, and environmental and other groups involved in maritime construction. Without the innovative technology of the dredging industry, many of these projects would not be realised.