Boskalis jaarverslagen 2011

A global leader in terminal services

The establishment of Smit Lamnalco, a joint venture in which Boskalis holds a 50% stake, is a fact. Smit Lamnalco was set up to take maximum advantage of the strong sides of both SMIT Terminals and Lamnalco. The combination offers considerable operational and commercial synergies. For example, Lamnalco is a strong player particularly in West Africa and the Middle East, whilst SMIT Terminals complements this through its broader playing field. The result of the merger is a market leader with an extensive fleet of 177 ships and revenue of around USD 300 million. Smit Lamnalco currently holds a very strong market position, operating globally with activities in over 30 countries.

Loek Kullberg, member of the Smit Lamnalco Board: "Smit Lamnalco will be a truly global provider of terminal services - primarily the berthing and unberthing of vessels (oil and gas tankers). We also see many opportunities for the provision of marine support to the mining industry. In all sectors, our intention is to widen the marine package, to include services such as underwater inspection and maintenance, pilotage, loading and discharging."

"We also intend to provide added value to clients by supporting terminal operators in their drive to manage and reduce commercial risks around the world. This will include their operations at remote locations. Risk-sharing will be an increasingly important element of the services we provide.”

"We believe Smit Lamnalco, with the strong support of Boskalis, will be the preferred provider of terminal towage and marine support services in the oil and gas industry and mining industry."

Added to My report add to My report Source: Annual review 2011, Report of the Supervisory Board, page 30