Annual Report 2011 by DEME Group

Annual Report 2011

Creating land for the future

Annual Report 2011

Table of contents

Creativity is often obvious, realising it demands vision

Facing complex challenges with diversity and innovation Message of the board: Versatility is the key to our success General management Sustainability: Committed to sustainable development around the world People: DEME’s most valuable asset Financial highlights Activities: Synergy for total solutions Marine infrastructure MINING ENERGY

12 13 15 16 19

Safety: top priority within DEME Health: a sound mind in a healthy body Taking up social responsibility Facing the challenge of climate and environment

ACTIVITIES 28

68 70 Oil and gas

76 Renewable energy 76 Project Development: turning innovative ‘green’ and ‘blue’ ideas into reality 82 Engineering and Construction 88 Maintenance

GENERAL INFORMATION

106

Environment Research and development: Increased competitiveness

110

114

116

118

120

through pioneering innovation

Investments: Investing in a modern and versatile fleet creates a platform for quality, performance and efficiency Omnipresence on the globe The DEME fleet Group structure Presence worldwide

Introduction

Facing complex challenges with diversity and innovation

Following an absolute record year 2010, DEME has shown the entrepreneurship, throughout 2011, to consolidate its outstanding position, to develop in-depth its multidisciplinary activities and to take the strategic and technical measures to prepare the Group for important assignments on the international scene. DEMEâ&#x20AC;&#x2122;s vision and strategy are based on a solid innovation-driven approach fostering early involvement to think, engineer and develop along with our clients. Our aim: a tailor-made total solution starting from the actual final objectives formulated by our customers. Gradually DEME has become a total-solution provider instead of a mere dredging contractor. Today, DEMEâ&#x20AC;&#x2122;s experience and competences cover every aspect of dredging, land winning and marine construction, diversified services to the mining industry, including deep sea mining, construction and development services to win, transport and supply both the classic oil or gas and the renewable energy sources, specialised services to remediate and enhance our environment both onshore and offshore and even global maritime and terminal related services.

Throughout the last years an ambitious investment plan has been implemented. No less than fourteen high-tech in-house engineered vessels were commissioned to the DEME Group. In 2012 and 2013 an extra five high-tech vessels will be added to the DEME Fleet! The actual key determinant of our success, the beating heart of the company, however, is our qualified and dedicated work force. Their commitment, on every level of our business, to deliver high-quality work and results is the leading edge of DEMEâ&#x20AC;&#x2122;s drive for success. Their motivation boosts the morale of the entire company and makes us emerge in better shape than ever. The DEME Group is ready for the challenges ahead, for a continued unique effort to create land for the future and hence to prepare our planet for future generations in a sustainable way.

Message of the Board

Versatility is the key to our success In 2011 the world, and above all Europe, has witnessed an economical and financial downturn or stagnation with financial and stock markets reacting nervously to any hesitating news appearing on the international scene. Nevertheless, for DEME, the year 2011 has turned out to be a year of consolidation of its position and turnover on the national and international markets. After the record year 2010, DEME saw a stabilisation of its turnover to a level of 1 766 million euro in 2011. The order portfolio saw an increase to 2.4 billion euro. The Group, therefore, managed to weather perfectly well the impact of the economical turmoil owing to this solid standing order book and its strategy of geographical spread of its activities in combination with a diversified offer of dredging, hydraulic engineering, offshore related and environmental services. Furthermore, DEME intensified their focus on activities related to the energy market (oil & gas services, services to the offshore renewable market) and the mining world (services to the traditional mining companies and deep sea mining services). Prospects for DEME’s activities in 2012 are more than positive with interesting assignments lying ahead.

From left to right:

Luc Bertrand Chairman of the Board of Directors - DEME

Alain Bernard C.E.O. - DEME

Renaud Bentégeat Chairman of the Management Committee - DEME

Our specialised marine and offshore construction companies such as GeoSea and Tideway witness booming business, based, amongst others, on the valuable experience gained on the C-Power wind farm project on the Thornton Bank off Belgium, but also on a vast track record of specialised services rendered to the oil-and-gas industry. The rapidly evolving renewable energy market has been and will be an important driver for DEME’s marine construction specialists in the coming years. This market is driven by the increasing awareness of the world’s population to safeguard our planet against the impact of climate change and by the initiatives taken by authorities – before all the European authorities – to limit our environmental footprint to the strictest minimum in the future. In 2011, DEME’s persistent efforts in the field of the so-called ‘blue energy’ generation have underlined our willingness to be an actual pioneer in the development of environmental friendly energy production. Moreover, DEME has continued to be an important player in the fields of environmental remediation and enhancement. Next to its West-European home market, DEME maintained a high level of activity in Africa, Latin America, Middle East, Indian Subcontinent, Russia and Asia and boasted a fast growing market in Australia. The oil & gas related activities and marine infrastructure projects have consolidated a strong position of our Group on the Middle East market. A number of 25+ million euro contracts were obtained in amongst others the UAE,

Russia, Nigeria, Australia, Uruguay and Europe. These contracts are well spread over the core business and the ‘dredging-plus’ activities. DEC-Ecoterres, the environmental branch of the Group, did not manage to maintain their turnover at the absolute record level of 2010. However, the company has been very active in a number of European countries, both in developing new activities and in the actual execution of brownfield remediation, soil and sediment treatment and recycling. The strategic partnership company Terrenata was set up for brownfield development – an initiative based on ecological, social and economic concerns. Considering the growing need for recycling all types of industrial and domestic waste water back into the fresh water circuit, DEC’s industrial waste water treatment specialist company Purazur has spent its first year of activity developing partnerships with process water companies. In the beginning of 2011, DEC also had to cope with a substantial financial loss on a project in Santos, Brazil. An important programme was set up to learn lessons for the future. Moreover, a cost programme “DEC Profit Plus” is being implemented in 2011-2012. In 2011, Tideway Offshore and Marine Contractors, the oil and gas related subsidiary of DEME, managed to keep their turnover at a high level, both in the area of trenching and

landfall construction and in the typical fallpipe stone dumping business. Apart from Europe new assignments were located in Russia and China. They have been involved in the Skarv and Idun Field Project for BP, the largest rock dumping contract ever in northern Norwegian waters. They have completed amongst others the Nord Stream project, a gas export line from Russia to Germany. A unique fall pipe vessel, the ‘Flintstone’, able to work in depths down to 2 000 m, has been commissioned to them in July 2011 and has been performing on a first assignment in Chinese waters. GeoSea generated a 40% turnover increase as compared with 2010, with significant utilisation of their jack-up platforms in their different fields of activities. Further growth is expected for 2012. These activities require jack-up platforms and vessels for jetty construction, offshore installation, offshore foundation techniques, maintenance of offshore structures, directional drilling, site investigation and even for crew accommodation. They clearly see further growth in the coming years. Ever growing attention in Europe and elsewhere for the issues of renewable energy constitutes a major driver for offshore wind farm construction. In 2011, GeoSea has been involved in major offshore windfarm installation in Germany, UK and Belgium. Its activities in Australia marked the award of a major jetty construction assignment in Hay Point: a real breakthrough in high-end infrastructure works in this country. GeoSea’s growth is further marked by new investments in the DP2 jack-up vessel ‘Neptune’ and the world’s largest jack-up vessel ‘Innovation’. DBM (DEME Building Materials) further pursued its strategy of investing in marine aggregates based on a proper geographical spread of gravel concessions in French, UK, Belgian and German waters and long-term partnerships with French, British, and German construction industry partners. A new 5 000 m³ capacity gravel trailer ‘Victor Horta’ joined the DBM-fleet in July 2011. The availability of two modern high-capacity gravel trailers is a real trump card for DBM. It enables them to approach their customers with increased flexibility and guarantees of tailor-made supply. During its first year of activities the new company CTOW (Combined Marine Terminal Operations Worldwide) has made the first decisive steps in its specific market segment. This new company

provides marine services in the widest sense to dedicated marine terminals: a perfect way for upstream action in synergy with all the DEME competences. The first contracts have been awarded to CTOW in Angola in order to operate iron ore and LNG terminals.

throughout the entire DEME Group. 2011 also saw a further intensification of our D.R.I.V.E. (DEME’s Resolve on Innovation and Value Engineering) programme, based on the Lean Six Sigma principles to stimulate cost efficiency and productivity throughout the entire DEME Group.

In 2011 a new initiative was started, in joint venture, to offer integrated deep sea mining services to the mining companies worldwide. ‘OceanflORE’ (ORE stands for Ocean Reserve Extraction), as the initiative is called, is capitalising on the increasing demand for both expertise and exploitation opportunities within the sphere of deep-sea mining. OceanflORE provides the market with an integrated contract mining solution, which focuses on extracting reserves from the ocean floor with their own equipment. OceanflORE has the ambition to be the reference company offering an Integrated Contract Mining Solution resulting in a well determined “cost per ton delivered” for its clients and partners.

Through the synergies of its multidisciplinary abilities, its Central Competence Centre (C.C.C.) and its Financial Coordination Centre including project finance, DEME has prepared turnkey solutions as a total service-provider for complex offshore marine infrastructure. These competences allow DEME amongst others to play an active part in the long-term development and planning of coastal protection measures for the Belgian coast – the so-called ‘Vlaamse Baaien Plan’. They enable DEME to participate in research projects for example to develop new systems to generate electricity from wave action (currents and tides), such as the FLANSEA project, sponsored by the IWT, the Flemish Agency for Innovation by Science and Technology.

DEME’s current investment programme, covering the period 2008 – 2012, is in full swing. Subsequent to the delivery of eight new vessels in 2009 and 2010, another six vessels have been commissioned to DEME in 2011: the fallpipe vessel ‘Flintstone’, the gravel trailer ‘Victor Horta’, the 12 860 kW seagoing cutter dredgers ‘Al Jarraf’ and ‘Amazone’, the 11 000 m³ capacity trailer ‘Breughel’ and the 30 000 m³ megatrailer ‘Congo River’. Yet another four vessels are to be delivered in 2012: the backhoe dredger ‘Peter the Great’ in joint venture with NDC, one of the world’s most powerful seagoing rock cutter dredgers ‘Ambiorix’; the DP2 jack-up vessel ‘Neptune’ and the world’s largest jack-up vessel ‘Innovation’ in joint venture with Hochtief. Finally, a new DP2 floating 4 000 ton crane ‘Rambiz II’ was ordered end 2011 in joint ownership.

In the overall context of renewable energy, DEME has been an active participant in the Friends of the Supergrid to create the European framework for a pan European grid to interlink all the individual offshore renewable energy generators and to safeguard the availability of this renewable power to all European citizens at all times. DEME is also a founding member of the ELEANORE cooperation to unite the specific competences required to actually build such a supergrid.

In 2011, DEME actively pursued its safety awareness and behaviour training on every operational level and in all offices, based on the C.H.I.L.D.programme (Colleagues, Help Injuries to Leave DEME). Safety is DEME’s most precious core value and of prime importance throughout the Group. Stimulating safety awareness is and will be an ever ongoing process that should affect the entire DEME personnel at all times. Taking good care of our people requires a clear objective of “zero harm”. The efforts made pay off with a resulting considerable decrease of accidents and injuries

During 2011, about 500 new people joined the DEME global work force. At this stage, more than 4 200 people deliver first-rate work to our customers on all continents. It is DEME’s bond to offer them the best possible working conditions. This is acknowledged by the outside world through the awards received as Top Employer 2011/2012 and as the most attractive Belgian employer.

We express our sincere gratitude to DEME’s personnel on all levels. This annual report, and the great diversity of actions, works, accomplishments, innovations and new trail-blazing developments described in it, all are a tribute to their determined successful team work and their truly entrepreneurial spirit. Alain Bernard Renaud Bentégeat Luc Bertrand

General management

Board of directors and management committee Luc Bertrand Chairman of the Board of Directors Renaud BentĂŠgeat Chairman of the Management Committee Philippe Delaunois, Lode Franken, Werner Poot, Jan Suykens, Marc Stordiau, Tom Bamelis, Jacques Ninanne

Management team

Pierre Catteau Area Director Mediterranean South & Middle Americas

Pierre Potvliege

Christian Van Meerbeeck

Area Director Indian Subcontinent

C.L.O.

Dirk Poppe Hugo Bouvy

Area Director Middle - Eastern Europe and Russia

General Manager Tideway

Luc Vandenbulcke Bernard Paquot

General Manager GeoSea

Area Director Middle East

Harry Mommens

Marc Maes

Human Resources Manager

C.F.O. 11

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Eric TancrĂŠ

Lucas Bols

Area Director North Europe ?????_?????????

General Manager Tideway ?????????????????.???????

Theo Van De Kerckhove C.O.O.

Alain Bernard ????......??????? C.E.O. Martin Ockier

Philip Hermans Area Director North America - Oceania - Asia General Manager Dredging International

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Christel Goetschalckx

Area Director Benelux

Secretary to the Management Team ???????????..

Lieven Durt Area Director Africa

Sustainability

Committed to sustainable development around the world DEME is committed to act in a sustainable way within the scope of its activities – both on a social, economic and environmental level. The drive for sustainability is reflected in our Code of Ethics and is embedded in formal guidance documents. This policy’s principles are implemented at management level, in the business units, at headquarters and regional offices, on board our vessels and at a variety of sites all over the world. DEME’s commitment to sustainable development and a sustainable way of operating goes well beyond legal obligations. Our vision is inspired by the belief in good stewardship; corporate social responsibility; the desire to meet client’s expectations; and the ambition to work in the interests of all stakeholders. As we succeed in enhancing the sustainability of our operations, we may ultimately also increase the competitiveness of our Group. 12

By the very nature of our business, DEME lays the foundation for development, economic growth, prosperity and social well-being – as it is written down in our corporate tagline ‘Creating Land for the Future.’ In addition to our core business of dredging, reclamation and port construction, which obviously contributes in a very direct way to sustainable development and a modal shift, DEME also develops a great variety of businesses that provide solutions for remediating our environment, developing renewable sources of energy, and preparing sustainable technologies for tomorrow’s needs. As such, DEME’s contribution towards a sustainable future consists both in the very nature of our various business activities proper, and in the way DEME-management, staff and crew execute these activities. All DEME business units’ Management Systems are supported by the following certificates or are in accordance with: ISO 9001, ISO 14001, OHSAS 18001, VCA** (BeNeLux only), ISM/ISPS (vessels only), ISO 14064. Our commitment to sustainability is translated in an integrated policy for Quality, Health & Safety, Environment and Security (QHSE-S), which is

implemented at corporate level and by all business units. DEME is committed to achieve Quality, Health, Safety, Environmental and Security excellence, which, in our view, includes avoiding adverse impact and injury to the environment and the communities in which we do business. To stress the importance of our commitment and to address increased industry demands, DEME has reinforced and further professionalized staffing at its QHSE-S department. Many initiatives have

already been taken in the previous years and the enhanced focus is a continuation of these efforts. Yet the consolidation of various initiatives under the overall umbrella of sustainability expresses our determination for a more structural approach. Activities of all business units are managed in accordance with a document which is adopted by the Management Committee: ‘DEME Expectations for Quality, Health, Safety, Environment and Security.’

Safety: a top priority within DEME

The reporting is discussed within the Management Team meetings. It also enables business units to benchmark their results and lift the overall safety performance to a higher level. In addition to improving the safety performance reporting, initiatives have been taken to make QHSE-S data more visible for all staff and crew, amongst others by distributing and communicating a safety thermometer on a monthly basis.

DEME acts as a responsible member of society in such a way that the health and safety of its staff and crew, customers, contractors, visitors and neighbours is being safeguarded and that they will not be confronted with unacceptable risks. This translates in our objective to provide a safe and healthy working environment: we consider working safely to be crucial for the success of DEME. It is corporate policy that all management, staff and crew must accept a greater level of responsibility, both for their own safety and the safety of others. Personal responsibility for safety implies that we care for the safety of every single employee and for safe working conditions, as well as for the safety of colleagues, family, friends and everyone else we come into contact with. It also means always intervening when observing unsafe behaviour or conditions.

At DEME the health condition of staff and crew is enhanced along two lines: better health by improved safety awareness and a better health condition by stimulating physical exercise. A better health condition by improved safety awareness is being targeted in a variety of ways. Early 2011 management decided that all (ISM) vessels within the DEME fleet had to be made compliant with the requirements set by the International Marine Contractors Association (IMCA), more specifically the requirements set in the Common Marine Inspection Document 12 months (CMID). running IMCA isaverage the international trade association representing 0,21 offshore, marine and underwater engineering companies. It is a respected voice around the world promoting good practice, particularly in the areas of health, safety and environmental standards, quality and efficiency and technical standards.

Cumulative frequency rate 2011 – end December

0,21

Safety is a core value of our company and a top priority of the DEMEMonth Group management. Significant efforts are being 0,51made towards harmonisation of key safety processes across all activities. This is clearly reflected in the safety results over the past years. The Lost Time Incident Frequency decreased with 50% compared to 2010. 0,51 The Lost Time Incident Frequency Rate for the whole DEME Group in 2011 ended up at 0.21 (Lost Time Incidents >3 days lost time x 100 000 / man-hours worked). Each year, clear corporate leading and lagging performance indicators are set, which provide the framework for reporting and monitoring. Result till date

0,23

In 2011 Dredging International (DI) received several (HSE) awards from leading clients in which DI was praised for its excellent performance. Two awards were given by Takreer (member of the ADNOC Group), a UAE based company, for the best nearmiss reporting and the best drill conduct. From the Panama Canal Authority (ACP) an award was received for the fact that the project achieved the milestone of working two million man hours without any ‘Lost Time Injury’ (LTI).

Our aim for 2011!

Result till date

Our definite target: Zero HARM!

0,23

Our aim for 2011! 0

0,21

Our aim for 2011!

0,21

Our definite target: Zero HARM!

1,20 1,00 0,80 0,60 0,40 0,20

2011

2010

2009

2008

0 2004

Lost Time Injury Frequency Rate

DEME Group accident statistics 2007-2011

Lost Time Injury Frequence rate: number of lost time incidents more than 3 days per 100 000 man-hours worked.

The management decision implicated that the ‘Yellow File’ had to be revised to meet (IMCA/ CMID) expectations. This resulted in the new, webbased, Vessel Management System. Implementation of the system including the required industry standard training courses for the whole fleet is spread over a two to three years’ period. However as from the second quarter of 2011 our Marine Operations Department has already successfully implemented the new system on board of seven vessels. In the past year the ‘Colleagues Help Injuries to Leave DEME’ (C.H.I.L.D.) program, which was initiated last year to increase personal safety awareness and to change the individual mindset of all DEME staff and crew, launched amongst others a campaign focusing on ‘Slips, Trips and Falls’ – the DEME Safety Moment Day.

The DEME Safety Moment Day was organized on 30th November 2011 and participation was overwhelming. Throughout and within all Business Units and regions (top) management and all employees were actively involved bringing the message across of the hazards related to ‘Slips, Trips and Falls’. As such, awareness was raised and the number of ‘Slips, Trips and Falls’ related incidents was reduced. The campaign consisted of various steps: from an initial letter, to frequent sets of posters and a DVD related to ‘Slips, Trips and Falls’. This was all used on the day itself in toolbox meetings at all sites, vessels and offices followed by an inspection tour.

DEME QHSE-S Policy Statement This integrated policy for Quality, Health & Safety, Environment and Security shall be adopted by all DEME Business Units (BUs). DEME is committed to achieving Quality, Health, Safety, Environmental and Security (QHSE-S) excellence. This is a responsibility of management and employees in all functions. DEME will strive to provide a safe and healthy working environment and to avoid adverse impact and injury to the environment and the communities in which we do business. DEME Management requires that the QHSE-S Management System of the Business Units (BUs) is managed in accordance with the “DEME Expectations for Quality, Health, Safety, Environment and Security” Furthermore Management of the BUs shall commit to: • Comply with applicable QHSE-S standards, laws and regulations, • Show leadership and take full responsibility towards QHSE-S, • Ensure the required competence levels are met and training is ongoing, • Provide employees with a safe and healthy working environment, • Take appropriate measures to prevent workplace injuries, illnesses, damages as well as avoiding any harm to the environment, • Assess QHSE-S impacts before starting a new activity or project and follow-up/ maintain during execution of all activities and projects, • Eliminate unreasonable risks from their facilities, products, services and activities. • Strive for continuous improvement, by means of goals and objectives, • Mastering products and services provided by third parties, • Pursue in every respect the satisfaction of clients, employees and shareholders, • Evaluate and optimize its processes, • Continue to improve our QHSE-S systems and performance as an integral part of DEME’s operational strategy. DEME Management gives means to - and dedicates the Corporate QHSE-S Manager to verify the application and effectiveness of the QHSE-S Management System by auditing the DEME-Business Units and to prepare the corporate Management Review. DEME will operate its activities as a responsible member of society in such a way that the health and safety of its employees, customers, contractors, visitors and neighbours is being safeguarded and they will not be confronted with unacceptable risks. DEME Management is convinced that by keeping QHSE-S at the highest level the profitability and the competitiveness of DEME will increase worldwide, the well-being of its employees and the environment will improve, it contributes to sustainable development and the clients’ satisfaction will be positively affected. 27 June 2011

Theo Van De Kerckhove Chief Operating Officer

Alain Bernard Chief Executive Officer

Sustainability

Health: a sound mind in a healthy body Advancing better health conditions is also pursued through various campaigns to stimulate physical exercise. It is our profound conviction that increased fitness and a healthy body contribute to overall well-being, which is ultimately beneficial for working conditions and less stress on the work floor. The ‘DEME on the Move’ campaigns, which our Group organizes since 2005, with the full support of the top management, are aiming at two objectives: reaching staff and crew that do not routinely practice any kind of sport, and creating and increasing a ‘team spirit’ by organising sport events that set a common objective, such as climbing one of the famous cols in the Tour de France. As it happens, the ‘On the Move’ campaigns may be integrated as well in a common activity for charity.

In the past year, the ‘On the Move’ campaign was linked to the ‘Climbing for Life’ project that aimed at biking to the top of the 2 646 m Col du Galibier in the French Alps. No less than 150 employees participated in a green DEME outfit. For them it was the culmination point of an intensive preparation program throughout the year with twenty-five intensive training sessions and five running challenges including the Antwerp Ten Miles. The ‘Climbing for Life’ project is the continuation of the Aconcagua-asthma expedition of early 2011. With Flemish minister-president Kris Peeters and cycling legend Eddy Merckx among its godfathers, DEME has stepped in this ‘Climbing for Life’ program as a Silver Sponsor – supporting medical research into methods to suppress and hold back asthma, other allergies, and the treatment of patients that have fallen victim to the incurable genetic lung disease mucoviscidosis. 15

Other ‘DEME on the Move’ initiatives included a much-attended collective run around the pond of a recreational resort in Belgium, in which eight different DEME-teams with two hundred participants competed against each other during a Family Day; various initiatives under the DEME colours in Brussels, Santos (Brazil) and Lambersart (France); participation at a sailing competition on the Scheldt and in the Brussels Marathon. Individual staff reported successes in various sport events all over the world, including at Hawaii’s famous ‘Iron Man’ triathlon competition. Over 2011, DEME personnel covered no less than sixtytwo thousand kilometer in twenty-four cycling trips. And most promising, our ‘central’ core of cyclists that routinely show up at cycling events, has expanded significantly.

Taking up social responsibility

As a global player DEME is executing major infrastructure projects all over the world. We operate in countries that are emerging from poverty. When our engineers and vessels arrive on a foreign coast, they very often find nothing but mangrove or a sand beach. When they leave after completing the job, a new port is built, new quay walls are constructed, a fairway is deepened, high voltage electricity has arrived, world class sea ships are lining up to moor. And with the infrastructure that was built, people come in, families settle, new cities raise from the former swamps. One year later a booming port is in full operation, population is growing, electric power abounds, people have found a living, a school was built and children are being educated, shops are supplied with goods that had never been seen in this place, families are gathered before a television screen, increased prosperity is visible everywhere. By the kind of projects we execute, DEME is a precursor of development. That is why we feel so close to the communities we serve. For many years and in many places, DEME has supported the communities where we work. Our presence may be temporary, but it is in no way a ‘hit-and-run.’ DEME works for a sustainable future, within the scope of our social, economic and environmental activities. Our entrepreneurship must contribute in an innovative way to making the world a better and more human place. As a Group, we believe this is part of our social responsibility. In December 2010 our Group launched the ‘DEME4Life’-Foundation, which consolidates the charitable initiatives and community-oriented actions of DEME’s employees around the world. The Foundation wants to give less privileged individuals and communities the opportunity to develop and reach their full potential. We believe that, in doing so, the Foundation has a genuine impact on the communities and social projects it supports – which is our way to work for sustainable development.

Sustainability

In 2011 the ‘DEME4Life’ Foundation was active on four continents. Some of our initiatives included: • Brazil: Crèche Nayla in Sao Vicente: located within an underprivileged district of Sao Vicente in the state of Sao Paolo, the Crèche Nayla offers shelter to children from two to six years of age. DEME4Life Foundation supported the local Associaçaõ Beneficiente Amor a Vida with a financial contribution for the construction of a new wing. • Democratic Republic of Congo: SOS Children’s Village in Kinshasa: aiming at dealing with children’s distress resulting from poverty, unemployment, disease and hunger, SOS Children’s Village opened a new Village for abandoned children living in the streets of Kinshasa. DEME4Life Foundation supported this project through the VICA charity organisation of the renowned Belgian football player with Congolese roots, Vincent Kompany. • Belgium: Playing for Success (PFS) Antwerp: PFS is aiming to help children between the ages of ten and fourteen with learning disabilities to improve their performances at school. They do so by organising activities in an inspiring and challenging environment and surrounded by sports icons in order to boost these children’s self-image, confidence and motivation to learn. DEME4Life Foundation has offered financial support to the PFS-initiatives taken by the Belgian top basket ball team ‘Port of Antwerp Giants.’ • Democratic Republic of Congo: Orphanage Foundation Busired in Kinshasa: operating as an orphanage catering to some ninety children who were displaced and whose parents were lost during wars, the Fondation Busired is located in Burumba in the outskirts of Kinshasa. DEME4Life has offered financial support to the Fondation Busired for initiatives that provide basic meals and maintain a clean, healthy and safe environment. • Belgium: the ‘New Belgica’ project: a sustainable social and environmental project by the non-profit organisations ‘New Belgica’ and ‘Steenschuit’. They are building a seagoing replica of the famous three-master vessel ‘Belgica’ that made the first Antarctic expedition ever between 1897 and 1899. Some five hundred unemployed

persons with limited potential on the labour market are given education and training that give the opportunity to reintegrate in the social community. DEME4Life Foundation supports this project financially because of its link with maritime entrepreneurship and the trend setting search for new horizons and innovative solutions that it represents. • India: SPEED Trust (Slum People Education and Economic Development), Chennai: acting in the slum areas of Chennai, the SPEED Trust offers general education and technical skills to underprivileged children, to develop incomegenerating activities and to become independent and self-sustainable. At the initiative of the staff of DEME’s Chennai based Indian company ‘International Seaport Dredging’ (ISD), DEME4Life Foundation gives financial backing to SPEED Trust. 17

• Belgium: Justine for Kids: Since retirement from the international tennis circuit, Belgian tennis champion Justine Henin is even more dedicated to her vision to bring smiles, joy, and new energy to young children that fight against serious illness. DEME4Life Foundation offers financial support as to allow Justine for Kids to continue offering relief, mental and material support to children that are being deprived of the joys of childhood.

Sustainability

Facing the challenge of climate and environment As the climate is changing and consensus is reached that human activity is largely responsible for it, governments, companies and individuals must take up their part of social responsibility. Working in a sustainable way also means facing the challenges of climate change and environmental impact of our activities. DEME policy in this respect focuses on three objectives: preparing the future by developing innovative technologies in the fields of wind power, and green and blue energy; developing solutions for remediating historic soil pollution; limiting the environmental impact of our day-to-day operations by improving energy efficiency and reducing CO2 emissions. The growing world population requires an increase in international trade to maintain a healthy quality of life. In doing so, our business activities will continue to grow in a responsible manner by optimising our business processes. It is a matter of fact that DEME’s core business significantly contributes to changing business- and transport patterns, which in itself reduces the impact on the environment. The more sea ports are being built and the more capital and maintenance dredging is carried out, the more opportunities are created for a very much needed modal shift in goods transportation. In addition, the more our core activity contributes to the increase of scale in maritime goods transportation and the upgrading of sea going vessels, the lesser the frequency of movements, the more efficiently cargo can be transported. DEME did not wait until concern for the environment became an overall and compelling issue. Caring for the broader interests of society is embedded in our corporate Code of Ethics. We continuously develop and improve our caring for the environment by applying an Environmental Management System according to the ISO 14001 standard. On all fronts, our companies have been pioneers. Innovation, also in the field of environmental techniques, has always been a priority of the Board and top management. For more than a decade ‘DEME Environmental Contractors’ (DEC) has been a trendsetter in Belgium and abroad, consolidating a variety of environmental

activities and start-ups that had their origin in the late 1980s. DEC is active in soil cleaning, recycling materials, water treatment, brownfield remediation, etc. With an impressive list of references, DEC is now a well-respected business leader in dealing with solutions for remediation of historic environmental liabilities in Europe and abroad. DEME pioneers in developing renewable energy sources (RES) and has continuously invested in it for over a decade. As a Group of companies, we support the EU objective to reach 20% of renewable energy in Europe by 2020, and our initiatives contribute to reaching that goal. In the field of offshore wind energy, DEME has established Power@Sea as a concession specialist, which is active in several European countries. More than ten years ago, we stood at the cradle of the project development company C-Power, in which we keep a financial participation. C-Power has completed the first phase and started the second and third phases of a 325 MW offshore wind farm on the Thornton Bank off the Belgian coast. After foundation jackets were installed in 2011, C-Power will install additional wind turbines on its Thornton site in 2012 and 2013. The offshore wind farm will ultimately generate enough power to serve the needs of 600 000 people, avoiding in the process some 450 000 tons of carbon emissions per annum. A specialized company ‘DEME Blue Energy’ (DBE) is exploring opportunities in the field of wave and tidal energy, the so-called blue energy. To this effect DBE has set up the FlanSea-project, a cooperative agreement with the University of Ghent, Electrawinds, the Port of Ostend and several specialized partners as Cloostermans, Spiromatic and Contec. DBE also took a participation in ‘Renewable Energy Base Oostende’ (REBO), a company that is supporting offshore energy projects in a range of 200 km around the Belgian sea port of Oostende. In our day-to-day operations, caring for the environment and reducing the environmental impact of our activities is a prime concern of our Group. In training sessions, in our internal communication, in toolbox meetings, asking awareness among staff and crew for the environment (soil, water, air) in which we operate is now a standard practice. In addition, a pro-active

and formal approach is followed at the kick-off meeting of every single new project – identifying environmental concerns, detailing environmental requirements from the client and the regulators, and imposing very concrete measures to meet environmental objectives on which we want to be challenged. As an example, we refer to the environmental record that was set after intensive monitoring and regulatory challenging at out London Gateway project for which our client, DP World, was awarded the ‘Environmental Protection Prize’ in the ‘Lloyds List Global Awards’. At corporate level, energy efficiency and reducing CO2 emissions are important targets that are followed up by line- and project management. At one of our sites, in Kallo (Belgium), we have installed a 2 MW wind turbine that generates more than the power that is needed for our own activities. On the roof of our corporate headquarters near Antwerp we operate a battery of 1 700 m² of photovoltaic cells, the output of which compensates for a new air-conditioning system. A formalized approach and precise procedures for reducing our environmental footprint are being implemented. DEME anticipates the IMOimposed ‘Ship Energy Efficiency Management Plan’ (SEEMP) that will be applied as of 1st January 2013. Structural measures include, amongst other, preparation of the ISO 14064 Management System initiative. A task force for developing and implementing detailed environmental policies has been set up. Design principles by our shipbuilding department include optimized hull design, more efficient engines, investigations on the use of more environmentally friendly products, etc. The results are followed up through a variety of parameters taken from our fleet’s performance and output.

People

DEME’s most valuable asset

The quality of our work is determined largely by the quality of our people. People and people management are therefore at the heart of our Group. In order to achieve our performance ambitions we need to attract, develop and keep a highly talented group of people. It is a major challenge to pass on corporate culture and values to hundreds of newcomers every year. For that reason DEME goes to great lengths to create an environment in which every individual can reach its full potential and is offered a wide range of training programmes which have been developed in various forms: as an introduction for starters, for acquiring or refreshing vocational skills or for detecting and stimulating leadership competences among young professionals. At the end of 2011, our Group employed some 4 200 people, with backgrounds that can be traced across the globe, making DEME a truly multicultural group. Over the past five years almost 1 500 new jobs were created worldwide within the DEME family. Furthermore, in 2012 DEME will look for another 500 talented people to further strengthen our projects in Belgium and all over the world.

‘Belgian Top Employer’ once more! We are delighted to be voted once more Belgium’s ‘Top Employer’, now for the fifth successive year with a number one rating of 24.5/25.0 points. The award is a meaningful recognition for our labour conditions, our positive corporate culture, our training opportunities and our drive to constantly look beyond the traditional routes to promote new prospects and continuous progress.

‘Randstad Award’ Following an intensive enquiry among the Belgian public at large, performed in 2011, the DEME Group has received the Randstad Award as the most attractive employer in Belgium in 2012. This well-known Award is based on a survey that takes into account the attractiveness of Belgian companies in the following ten categories: salary, work perspectives, work climate, job security, financial health, job content, training, management, balance work/private life, environment and social responsibility. Interesting feature in this context is the fact that DEME managed to win this award after two consecutive years of being the runner-up. This indicates that DEME’s attractiveness is based on a stable and continued position and effort to be and remain an actual top employer.

Training is the glue

Proper training is the glue that holds all these features together. The challenge to create project teams with the proper mix of youngsters and experienced people is not to be underestimated. It requires continuous training, coaching and follow-up efforts from our senior staff on site and senior crew on board our vessels. We believe vocational training is not only crucial to improve skills and knowledge but also to limit the risk of accidents happening. Moreover we believe that it is of great importance to pass on DEME corporate values such as entrepreneurship, open-mindedness, a high degree of flexibility and adaptability to the younger generation. Here our various training sessions play a valuable role. Hence, we are dedicated to building strong ties of cohesion between newcomers and experienced staff. In addition, we want to find a balance between local cultural backgrounds and traditional values in our Group. Finally, technological innovation and geographic expansion requires permanent learning processes for all. A variety of training opportunities are offered in this respect ranging from traditional class teaching with interaction of all participants to training by simulation, e-learning and tailor-made training solutions for individual employees. It is DEMEâ&#x20AC;&#x2122;s intention to offer a specific training program for each job to sustain quality performance on all levels and to give us a competitive edge in all aspects of our work.

People

Focus on safety Safety is a key concept within DEME and as we are committed to providing a safe working environment for all our employees, they are offered a wide range of safety trainings. The group has invested heavily in several safety programs. Moreover, the decision to make all our vessels compliant with IMCA standards has amongst other things resulted in a renewed safety training package for all DEME employees on sites or vessels, involving several consecutive modules such as ‘safety awareness’, ‘risk management’, ‘incident investigation & leadership’, ‘banksman’, ‘working in confined spaces’ and so on. In addition to that, we have launched the Vessel Management Support System (VMS) on every vessel, complete with the necessary on-board briefings and trainings by our QHSE department. Additionally, following the 2010 C.H.I.L.D.-seminars for management functions, in 2011 we have successfully organised eleven new CHILD seminars for operational as well as for supporting services within DEME. Through several workshops and interactive sessions the safety theme was broached upon, all stressing the fact that safety is very much a personal matter for each and every one. The more experienced DEME personnel involved in dredging and land reclamation works is enrolled in high-level safety trainings following the internationally recognised IOSH standards. These sessions are given to groups of maximum sixteen people each and are set up in a modular way of five days training with an examination at the end.

Simulators: training in a virtual reality DEME offers several opportunities for training on simulators. In December 2011 a completely renewed Maritime Training Centre was opened in Zeebrugge, in cooperation with VDAB, offering all modern training facilities to our crew. Amongst others a brand new ship bridge simulator and an upgrade of the ‘Full Mission’- simulator have been introduced. In 2010 already a state of the art engine room simulator was added to the training services offered by the Maritime Training Centre. In DEME’s own training centre at Lambersart in France students can optimise their skills on a cutter simulator, which is a 1/1 copy of DEME’s seagoing

rock cutter dredger ‘D’Artagnan’. A team of highly experienced professionals with various types of expertise is continuously supporting this kind of vocational training.

DEME Basics4Starters Basics4Starters is a three-day introduction programme offered to every new DEME staff member, with, as of 2012, an optional fourth day focusing onto the more technical engineering departments. Basics4Starters aims at giving all newcomers a complete overview of the structures and workings of each department and business unit within the group. During this residential seminar, participants are given the opportunity to deepen their knowledge about DEME structures and operations, internal communication and reporting tools. In addition this is an excellent opportunity for networking and meeting key individuals within DEME management as well as other DEME colleagues from all over the world.

DEME Skill Program A structured, integrated and modular program was designed for skill and career growth of site-related and supporting functions. With this in-house training DEME wants to facilitate young employees (PE, TSI, SSI) with minimum one and maximum five years of experience in select groups through a structured training consisting of relevant technical and non-technical skills to enlarge knowledge and insight on our activities, to create a common language and framework, to support an optimal performance on a daily basis, to sharpen their individual competences and to grow in our business. The former two-year running PE/SSI and TSI/DSI skill programs are now combined into one skill program to stimulate mutual understanding and to underline the importance of good communication between vessel and site functions.

DEME 2020: engaging our future project managers An intensive coaching and training programme is organized for high potentials that are ready to fully commit themselves for a career on site. This three-week program helps them to develop skills that will stay with them throughout their careers. The programme covers three main themes: people management, contracts management and business management. In practical terms, these three themes are presented throughout three separate and consecutive weeks of residential training, offered in co-operation with Flanders Business School.

Dredging Technical Training (VOUB + VOUK) In 2011 more than fourty staff members have acquired their VOUB and/or VOUK certificate and even more are still enrolled in this challenging training trajectory for engineers consisting out of four different technical modules, each with an examination part. It is interesting to mention that our engineers obtain excellent results in this context. In the second half of 2012 we plan to establish specific STCW courses on management level (for masters and chief engineers) as soon as these training programs receive the authorisation of the federal government. Besides that we are developing specific OPITO-certified training modules for offshore activities, starting in the summer of 2012.

Financial highlights

Investing, to secure our future 2011

according tot international financial reporting standards (I.F.R.S.)*

Turnover EBITDA EBIT Gross profit (before taxation) Net profit (share of the group in the result) Cash flow (net profit and depreciation and non-cash items) Shareholdersâ&#x20AC;&#x2122; equity (incl. minority interests) Total net financial debt (excl. subordinated loans)

Evolution of net income, EBIT and EBITDA*

1801

1766

2010

2011

1403

137

2008

2007

2011

2010

104

116 2009

103 2008

1509

1314 178 147

175 115

149 90 2007

Net income EBIT EBITDA

300

289

302

329

Evolution of turnover *

259

2010

1,766 1,801 300 329 137 178 116 153 104 116 254 277 745 685 631 478

2009

Group figures

Evolution of equity versus debt*

(excl. subordinated loans)

800

Equity L.T. Debt Net Financial Debt

700 600 500 400 300 200 100

DEME consolidated turnover per activity (%)

2011

2010

2009

2008

2007

2006

2005

2004

2011

2010 2011

• Capital dredging • Maintenance dredging • Fallpipe & landfalls • Environmental contracting • Marine works DEME consolidated turnover per region (%)

• Europe - EU • Europe - Non EU • Middle East • India, Pakistan • Africa • America • Asia & Oceania

44 20 12 12 12

51 16 10 13 10

2011

2010

52 46 8 5 5 13 3 3 11 13 10 10 11 10

2010

2011

2010

* in mio Euro

Activities

Synergy for total solutions

As a multidisciplinary global contractor, DEMEâ&#x20AC;&#x2122;s strategy is based upon the offer of total solutions to its clients for complex largescale projects. The wide diversity of disciplines embedded within the specialized operational companies of the Group has shown throughout 2011 that synergy definitely works. Our activities displayed in the dredging and marine works, mining, energy and environment chapters invariably show the complementary interventions of various DEME companies. Their bundled activities allow perfectly coordinated management of complex project interphases. This is a prerequisite to the ultimate success of our projects, offering our clients the comfort of early involvement and the guarantee of proper and timely implementation.

Marine infrastructure

Mining

Energy

Environment

Traditional mining

Deep sea mining

Oil and gas Renewable energy â&#x20AC;&#x153;green or blue energyâ&#x20AC;?

Project development

Engineering and construction

Maintenance

Marine infrastructure

acitvities

DEME holds an excellent track record in the execution of multidisciplinary projects on worldwide basis. In these projects DEME combines the construction and maintenance of ports, dredging harbours and waterways, large-scale land reclamation, coastal defence and river bank protection with breakwaters, groins, dikes or “soft” defences through beach and foreshore replenishment.

2011 saw a most diverse development of DEME’s core business. In the fields of dredging and hydraulic engineering works DEME continued the execution of major assignments such as the London Gateway container terminal construction in the UK, the widening and deepening of the Panama Canal in Central America, the major extension of the port of Ust Luga near St-Petersburg in Russia, the construction of two artificial islands off the coast of Abu Dhabi in the Middle East or the reclamation of the Eko Atlantic City area off the coast of Lagos in Nigeria. Similarly, long-term maintenance dredging works were continued amongst others in Belgium, Germany, India, Nigeria, Venezuela and Brazil. At the same time, new ground was broken by DEME in Australia with a number of large-scale contracts in Gladstone and Port Hedland (Early Contractor Involvement (ECI)-contract), while intensive studies were made to prepare new port developments such as the Doha new port in Qatar in the Middle East. DEME’s capacity to prepare innovative design and build solutions, based on intense team work within its commercial departments and supporting staffing departments such as the Central Competence Centre, its applied R&D department, its Coordination Centre, harbouring financial engineering specialists and its Legal Department with contract and project insurance specialists, has proved to be a firsthand trump card for engineering and conducting a variety of modern

Success based on diversity, synergy and engineering capabilities throughout the world international contract, financing and insurance techniques, which go hand in hand. In an operational environment with worldwide an ever increasing legal and regulatory framework, with an involvement in more and more complex contract structures (design &built, turnkey, concessions, ECI), always taking into account foremost the interests of the DEME client, DEME today is able to offer its worldwide clientele a total solution through innovative contract forms such

as EPC, EPCM, EPCI, DBFM, BOT or Early Contractor Involvement (ECI) proposals for complex dredging and marine engineering projects. The common ground in all and any of these challenging formats is the ‘partnering’ concept. DEME strongly believes that finding a joint solution with its clients, in some occasions even through joint special purpose corporate structures, is highly beneficial for the client’s Project and hence, the client himself.

The activity in the Benelux area remained well in

acitvities

pace with previous years. On the river Scheldt and in the access channels to the Antwerp locks we entered the fourth year of the seven-year maintenance dredging contract, while maintenance works continued in the busy shipping lanes off the Belgian coast and in the ports of Ostend and Blankenberge. End 2011, this maintenance contract was awarded again to Dredging International for five more years after an international tender. Maintenance dredging on the Brussels Canal in the vicinity of Brussels and on the Canal Ghent-Terneuzen involved as well the treatment of these highly polluted sediments by DEC.

1 2

1-2 Beach replenishment works - Koksijde - Belgium.

Capital dredging and hydraulic works were executed in Antwerp, Kruibeke, Ghent, Ostend, Koksijde and Dilsen-Stokkem. In the port of Antwerp, the construction of AMORAS, the mechanical dewatering plant for sediments dredged in the Antwerp inner harbour, was completed. Our contract calls for the operation of the plant for a period of at least 15 years.

acitvities

On the Dutch market we acted amongst others

through our Dutch subsidiaries de Vries & van de Wiel and de Vries & van de Wiel Kust- en Oeverwerken. The works for the construction of the second Coentunnel in Amsterdam were continued. This DBFM-contract (Design, Build, Finance en Maintain) is executed in consortium with amongst others CFE and Vinci. Trench dredging for the tunnel elements was completed and subsequent transport and immersion of the prefab tunnel sections was performed.

acitvities

Marine infrastructure

2 3

AMORAS sediment treatment and storage installation - Antwerp - Belgium.

Beach replenishment works - Flushing - The Netherlands.

Construction of controlled flooding area Prosperpolder - Belgium.

Construction of controlled flooding area - Kruibeke - Belgium.

Minister Hilde Crevits at the start of the coastal protection works - Koksijde - Belgium.

DBFM for construction ‘Capacity expansion Coentunnel route’ in the Netherlands 2011 saw different DEME companies performing key tasks for the construction of the second Coentunnel in the Netherlands. That is: synergy at work in a challenging environment. DEME’s presence on this complex construction site is the result of fifty years experience in tunnel construction in the Benelux, often in DBFM-context and therefore of its partnership in the Coentunnel Company B.V. In its recent history indeed, Dredging International has participated, as a partner and/or contractor in the construction of the Piet Heintunnel in Amsterdam, the Netherlands, in the River Lee Tunnel in Cork, Ireland and in several tunnels under the river Scheldt and the river Rupel in the Antwerp area in Belgium. The contract for the ‘Capacity Expansion Coentunnel Route’, signed in April 2008 between Rijkswaterstaat and Coentunnel Company B.V., involves a so-called DBFM-contract (Design, Build, Finance en Maintain) with duration of thirty years and a total value of approximately 500 million euro. Characteristic for a DBFM-agreement is that the contractor takes care of the design and realisation, as well as the financing and maintenance. Coentunnel Company bears the financing of the activities herself and receives her revenues out of the future availability payments, based on the actual availability of the road system for the road users. The activities consist of several segments. First Coentunnel Company takes on the maintenance of the existing Coentunnel route for 24 years as of the effective date. The State of The Netherlands remains the owner and manager through Rijkswaterstaat. Simultaneously Coentunnel Company constructs a Second Coentunnel with access roads and facilities. Once the new tunnel will be available, the old Coentunnel will be renovated, after which the Coentunnel route will consist of two tunnels with a total of eight traffic lanes. Coentunnel Company B.V. consists of Arcadis, BESIX, CFE, Dredging International, Dura Vermeer, TBI Bouw and Vinci. During the two-year tender procedure DEME’s financial engineering specialists contributed actively to the negotiation and implementation of the total financing package of this contract. They continue to monitor and follow-up the financial implications of this contract throughout the entire construction and concession period. DEME’s operating companies Dredging International, Netherlands based dredging and environmental specialists de Vries & van de Wiel and offshore heavy-lift company Scaldis are cooperating on this complex infrastructure project. In the design phase DEME’s Central Competence Centre was actively involved in the design of the tunnel trench, the backfill and understreaming/jetting process and the immersion of the prefabricated tunnel sections. Dredging International performed extremely precise tunnel trenching. Heavy-lift specialist Scaldis performed the preparation/installation of the concrete tunnel foundation pads. They also took care of the transport and actual immersion of the prefab tunnel sections. De Vries & van de Wiel performed the backfill under the installed tunnel sections with an in-house designed ad-hoc jetting pontoon. They also did the backfill dredging after installation as well as the postinstallation stone dumping for the protection of the tunnel. De Vries & van de Wiel also supplied 1 million m³ of sand to serve as foundation bed for the adjacent road infrastructure under construction.

Capacity expansion Coentunnel route (the Netherlands) Marine infrastructure

â&#x20AC;&#x153;

We witnessed the strength of synergies within a Group such as DEME. We could call on the experience of an impressive tunneling track record and the pooling resources of specialized equipment.

â&#x20AC;?

36 acitvities

Marine infrastructure

2011 was again an outstanding year for the NorthWestern European area. The centre of gravity of our activities was situated in the UK, owing to the major London Gateway container port project along the River Thames. Then again, 2011 was a record year in Germany with the highest ever turnover generated, turning this market into a definite “home market”. Our activities in Germany also marked a strong diversity with amongst others a first important WID (Water Injection Dredging) assignment for maintenance on the river Elbe and the Nord-Ostseekanal, the construction of a 2.8 km underwater bund for dike protection in Otterndorf, involving extensive and precise stone dumping and platform reclamation for the construction of the Burchardkai at Hamburg. The strong revival of our activity in the Baltic States persisted throughout the year. In France we witnessed a reduced level of large-size activities. However, we see interesting prospects for 2012. Activities in the Mediterranean area have been influenced by the political situation in most North-African countries and the difficult economic situation of southern European countries.

Extension of Pier III - Port of Rostock - Germany.

Maintenance dredging works - Elbe - Germany.

Deepening the access channels and harbour basins Port of Liepaja - Latvia.

WID ‘Dhamra’ and TSHD ‘Brabo’ - maintenance dredging works - Elbe - Germany.

Dike rehabilitation - Nice - France.

acitvities

Together with the Benelux area DEME considers the European market as an actual home market. On DEME Group level the European area, therefore, remains an important market. We witnessed significant new assignments for the core business as well as the offshore and marine construction activities.

Situated on the north bank of the river Thames, the London Gateway container Port Development will be the UK’s first 21st century major deep sea container port and Europe’s largest logistics park. The construction works are being executed for the account of DP World by the LORDI Joint Venture between Dredging International and Laing O’Rourke. The contract is Design and Build. The works involved are complex and many-sided, requiring the participation of various disciplines, the collaboration of DEME sister companies such as DI, DBM and DEC, and the use of ships from all segments of the DEME fleet. At the end of 2011 the actual execution of our works is about half way and on schedule.

Site investigation and design management The design element within this contract has required the constant input of our Central Competence Centre (CCC) and our R&D and production engineering teams from the very start of the first studies up till and including the present phases of the actual execution of the works. Both the CCC and R&D teams have a constant presence on site to monitor and optimize production and execution methods. After an extensive site investigation, all soil data were incorporated into a 3D soil model of the dredged zones in the river Thames. The reclamation works were designed and are constantly being monitored and optimized to suit the various functional requirements versus the characteristics of the available soils. Design related to bund stability, rock revetments and bottom scour protection was undertaken. The experience, references and competences gathered by our CCC have played a vital role in both the design and the actual execution. A monitoring regime with piezometers was put in place as part of the QA/QC plan to ensure compliance of the executed works with the design. Detailed numerical modeling has been carried out to show the various construction stages of the reclamation. Our CCC developed a unique environmental monitoring and follow-up system over a stretch of 32 km of the Thames estuary. Their work resulted in 65 permits, licenses and consents having been obtained with hundreds of conditions set by environmental regulators.

DEC’s competences for scour protection As part of the overall methodology our specialists have calculated to what degree significant erosion of the seabed in front of the quay wall could compromise the wall stability. This resulted in the hydraulic engineering competences of DEC being called in to install scour protection in the berth pockets consisting of their proven techniques of Fibrous Open Asphalt Mattresses. This is the first application of these mattresses in the UK. Our CCC conducted applied design in this context, involving the combination of less dredging depth to this specific scour protection method. It resulted in a cost-efficient and time-saving solution and therefore an actual win-win situation for our client.

DBM’s competences for gravel winning and supply based on unique gravel trailers Within the dredging scope of this contract not all materials to be dredged to deepen the navigation and access channel have to be used for reclamation of the container port platform. Within the design-andbuild context of this project, and based on DEME’s proposals, a commercial alliance with the client has been put in place to beneficially commercialize the excess (gravel) material dredged for re-use in other construction activities. The actual gravel dredging, processing and supply to shore is performed by DEME’s specialist company DBM (DEME Building Materials), creating as such a win-win situation with our client.

Key features Total project value: GBP 1 500 million, of which GBP 505 million for LORDI JV Deep sea berth capacity for container ships of 3.5 million TEU Deep water access: potential access for Ultra Large Container Ships 175 ha container terminal area and 80 ha Business and Logistic Park 1.25 km quay area with possible future extension to 2.7 km Berth pockets dredged to -17 m CD 27.1 million m³ to be dredged over a 100 km channel in the Thames, of which 18 million m³ to be reclaimed 150 000 m³ of rock revetment 46 000 m² FOSA mattresses against erosion (Fibrous Open Stone Asphalt)

London Gateway Port Development (UK) Marine infrastructure

â&#x20AC;&#x153;

London Gateway is the most prestigious and multi-faceted port construction project our Group is involved in at this moment. Anyone who has worked here will take this invaluable experience with them to all their future jobs anywhere in the world. Moreover, we are bridging the gap between cultures, thus enabling a successful delivery of the Project.

â&#x20AC;?

acitvities

DEME managed to maintain and consolidate a strong position as a leading dredging contractor for strategic port extensions in Russia and prospects for 2012 are promising. After successful dredging for the continuing development of the commercial seaport in Ust Luga throughout the years 2004, 2008-2010, a new contract was signed for a fifth campaign. This resulted in another full year of operations for access channel and terminal development.

On the Russian Riviera in the Black Sea, DEME completed site reclamation works for the upcoming Olympic Winter Games in 2014. Furthermore, a short-term dredging intervention was done in Tuapse and the award was received for important capital dredging works in the new Taman port construction area. A new backhoe dredger is under construction in co-ownership with a local Russian partner, i.e. Northern Dredging Company, for activities in the Finnish Bay. The new dredger will be given the name ‘Peter the Great’ and will be available early 2012. The new dredger offers further growth potential for our specialists and will enhance the flexibility of DEME’s approach to its markets and clients in the area.

acitvities

Marine infrastructure

Dredging works - Ust Luga - Russia.

Backhoe dredger ‘Peter the Great’.

DEME maintained a strong and balanced presence in Sub-Saharan Africa with the execution of capital and maintenance dredging works as well as civil engineering and environmental works. Amongst the highlights is the completion of the first phase of the EKO Atlantic city development and the start of the second phase of this impressive land reclamation in Lagos, Nigeria.

acitvities

Coastal erosion control and environmental restoration works were executed in Ghana. The Angola LNG terminal was deepened in Soyo and the remediation of infrastructure around the bay of Luanda was completed in Angola.

After many years of absence DEME returned to the Democratic Republic of the Congo for a challenging maintenance and channel rehabilitation campaign on the Congo River. Maintenance dredging projects were executed in Guinea, Nigeria, South Africa and Mozambique.

acitvities

Marine infrastructure

Reclamation works - Eko Atlantic City - Lagos Nigeria.

Dredging works - Congo River - Congo.

Dredging works in the access channels, basins and berths - port of Maputo - Mozambique.

800 Ha reclamation for Eko Atlantic City near Lagos Nigeria Eko Atlantic city is a planned district of Lagos, being constructed on land reclaimed by Dredging International from the Atlantic Ocean. Located on Lagos’ Bar Beach, the proposed development is anticipating upon completion 400 000 residents and 250 000 commuters flowing daily to the new island. The development will also have a positive environmental impact. Its purpose is to stop the erosion of the Lagos coastline. Adjacent to Victoria Island, Eko Atlantic rises as the next generation of property in Africa. The city will satisfy needs for financial, commercial, residential and tourist accommodations with a state-of-the-art high-tech infrastructure in line with modern and environmental standards. These standards will offer the city’s residents modern water, waste management, security and transportation systems. Eko Atlantic will also offer its residents an independent source of energy generated specifically for the city. For DEME this development is the essence of its corporate tag: “creating land for the future”. A first phase of the Dredging International contract was executed in 2010 with the jumbo trailer ‘Pearl River’. In 2011 Dredging International prepared the design of the second stage based on extensive geotechnical investigations to define proper sand sources for the client. Our R&D and production department studied the entire process closely in order to ultimately define the best and most cost-efficient reclamation method based on the employment of DEME’s brand new megatrailer ‘Congo River’. The challenges they have faced are the abrasiveness of the dredged material, the optimisation of the pumping distance (up to 2 700 m !) based on the power of ‘Congo River’ and the management of the dredging cycle taking into account working in very busy shipping lanes. Clearly the contractor’s involvement in the optimisation process has been an important factor that influenced the feasibility and continuation of the project. Moreover, the coordination efforts made by DI’s site staff with local authorities were stimulating factors for smooth project management. DEME’s involvement in this large-scale project has been triggered by the availability of most modern hightech mega-equipment, the cooperation with the client to define the most efficient execution method and in general of the creative and innovative spirit shown by the Dredging International team on site and in our R&D department. Interesting to mention in this context is the application on ‘Congo River’ of our in-house developed remote viewing tool (via satellite) that enables to monitor the dredging process ‘live’ from head office in Belgium and therefore to optimize the dredging and production process instantly at all times. The same tool is being used for example as well on our sea-going rock cutter dredger ‘D’Artagnan’ on the Panama Canal. Last but certainly not least, the involvement of our financial engineering department has been a crucial element in the implementation phase of this project. They made an in-depth study of all financial implications and possible financial schedules to ensure proper funding of the works through amongst others an interesting Export Credit package, covered by the Belgian Credit Insurance Agency, i.e. Delcredere - Ducroire.

Eko Atlantic City Lagos (Nigeria) Marine infrastructure

â&#x20AC;&#x153;

Working in the busiest access channel of Nigeria is a challenge. It requires good coordination with local authorities and the constant support of our in-country logistic base. The team is cooperating perfectly well on every level.

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Early contractor involvement for Maputo maintenance and capital dredging in Mozambique The Maputo Port Development Company (MPDC) awarded a contract for maintenance dredging of the access channel to Dredging International in 2004. This major contract was a key element of the civil works that MPDC was carrying out as part of its port rehabilitation programme. Dredging International restored the 100 m wide port approach channel to its design depth of -9.4 m. However, in the dredging process rock outcrops were discovered that were bound to prevent any further deepening of the channel. In close cooperation with the Central Competence Centre and the production and R&D departments of DEME the rock outcrops were studied, samples were taken and full design studies were made to redefine and optimize the Polana Channel, identifying partly a new outline that took into account the presence of rock. In order to limit hindrance to shipping traffic to an absolute minimum during the channel deepening process, DEME developed a revolutionary method to dredge soft rock. Based on intensive rock sampling and rock dredging tests made with this new device, DEME made to the client a lump sum offer to realign and deepen the Polana channel to the required depth, removing any rock outcrops encountered. The Polana deepening works were executed in 2011 with the trailing suction hopper dredger ‘Pallieter’ to the entire satisfaction of the client MPDC (Grendrod - DP World - CFM). These works are a perfect example of how applied development and early contractor involvement result in a proper win-win solution, combining the contractor’s innovative resources with a spirit of “thinking along with the client”. This dredging contract represents an important step forward in the process of improving the capacity and efficiency of the port of Maputo for the benefit of all MPDC’s customers.

Maintenance and capital dredging Maputo Port (Mozambique) Marine infrastructure

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We conducted additional research into the rock levels in the sediment layer and drew up a financial proposal. We have a very satisfied customer in Maputo who will certainly call on us again for maintenance or further expansion work.

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During 2011 we have continued our expansion on

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the American continent in North, Central and South America. We started the year in Venezuela with the continuation of the maintenance dredging works on the Rio Orinoco.

In Panama, we continued the dredging works for the Pacific Access Channel to the new set of Locks of the Panama and the capital dredging works in the Gatun Lake, which is situated between the existing locks. Notwithstanding the stalling of the first phase of the PAC (Program for the increased Growth of Infrastructure) of Brazil, we continued to serve the worldâ&#x20AC;&#x2122;s largest iron ore miner Vale, one of the largest corporations in Brazil. Within the framework contract with Vale we conducted further activities at Ponta Da Madeira, Itajai and Tubarao. Dredging works were conducted as well in Santos, where in a first phase we successfully completed the drilling and blasting works for the actual dredging to start in April 2012.

In Mexico, the important capital dredging works for the new LNG terminal in Cuyutlan, Manzanillo were continued with a myriad of dredging equipment. In the newly acquired Uruguayan market, the Muelle C works in the port of Montevideo will be started in spring 2012. Meanwhile, dredging works were started for the Montes Del Plata project close to Colonia in the Rio de la Plata. A promising start was taken on the Colombian market with the actual execution of the Las Brisas project for the dredging of an access channel to the future port.

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Marine infrastructure

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Dredging of hard volcanic rock inside and outside the traffic lane - Panama Canal - Panama.

2-3 2nd phase of dredging works of the access channel, turning basin and wharf area - Port of Cuyutlan Mexico. 4-5 Capital dredging of the entrance channel, turning basin and berthing area - Port of Conchillas Uruguay.

The future of the Middle East region remains attractive owing to further large developments in the Oil & Gas sector, mainly in Abu Dhabi, but also in Iraq, Saudi Arabia and Kuwait and to interesting port infrastructure projects in Saudi Arabia, Oman, Iraq and Kuwait.

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In 2011, the operations of Middle East Dredging Company (MEDCO), the joint venture company of DEME, UDC and Qatar Holding, the investment arm of the Government of Qatar, continued to be concentrated in the Emirate of Abu Dhabi. The construction of the new reclaimed (1 000 ha) platform for the new refinery of Takreer in Ruwais has been successfully completed. In addition to this base contract, we have been awarded the reclamation of additional land for the new Carbon Black and Delayed Coker. These works are currently under construction.

The main achievement in 2011 in this area is the award to us of the design-and-build contract for the construction of two artificial islands for the Satah al-Razboot (SARB) offshore oil field. These islands, situated 120 km offshore the coast of Abu Dhabi will support the drilling, production, processing and distribution facilities at the offshore oil field. The contract includes the construction of a service harbour in each of the islands. The detailed design for both islands is almost completed and actual civil and dredging works have started. Another milestone achieved in 2011 is the delivery of MEDCO’s new heavy-duty self-propelled cutter suction dredger ‘Al Jarraf’ in July at the ASL Shipyard in Singapore. The Basic Design for the construction of the Friendship Bridge – the Qatar Bahrain Causeway – has been completed already in 2010. The actual implementation remains frozen due to the political turmoil experienced in the Middle East area during 2011.

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Marine infrastructure

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1 Design and build of two artificial energy islands - Abu Dhabi - U.A.E. 2 Reclamation for the construction of a site platform Ruwais - Abu Dhabi - U.A.E.

EPC contract for construction SARB artificial energy islands in Abu Dhabi (UAE) In 2011, Dredging International and MEDCO have started the actual execution of a mixed dredging and civil engineering project to construct two artificial energy islands, including their service harbours, aimed to provide Abu Dhabi with energy based on facilities for oil drilling, etc. from the previously untapped offshore Satah al-Razboot (SARB) field. The works will be executed by MEDCO and Dredging International. The contract was awarded by Abu Dhabi Marine Operating Company (ADMA-OPCO), which is the daughter company of Abu Dhabi National Oil Company (ADNOC) for exploration of oil and gas. Such offshore small-scale energy islands serve as a valuable alternative for oil exploration and exploitation from steel offshore platforms. Their design and implementation is based on a full-fledged environmental impact assessment study. The new energy islands are being constructed 120 km off the northwest coast of Abu Dhabi City. The project requires a wide range of dredging and complex marine construction skills and therefore gives further proof of the versatility of the services offered by MEDCO in the Middle East and DEME on worldwide level. Interesting prospects exist for instance in offshore European coastal areas, amongst others in the North Sea, for the construction of small-scale multipurpose artificial service islands for the maintenance of offshore wind farms and other marine structures related to the production of renewable energy. The engineering phase was started mid February 2011. The contract involves indeed engineering, procurement and construction (EPC) and comprised 5 months of engineering and preparation of all logistics. Total contractual execution period is 110 weeks. The project consists of reclaiming two 500 m x 500 m artificial islands and protecting their perimeters with a shore protection consisting of concrete armour units and armour rock. The scope comprises design and model testing, dredging and reclamation, deep compaction of the reclaimed site, construction of the perimeter shore protection, construction of the harbours consisting of concrete block walls and installation of navigational aids. The works require the deployment of trailing suction hopper dredgers, offloading and positioning pontoons, crane pontoons, transport barges and heavy earth moving equipment. A work force of over 500 people is required for the execution of the works. The engineering and planning process saw the active involvement of DEMEâ&#x20AC;&#x2122;s Central Competence Centre to determine the proper execution methods and project phasing for the construction of the work harbours and breakwaters. Their Design and Procurement team follows up the entire process in close cooperation with the Area and Project Management.

SARB artificial energy islands Abu Dhabi (UAE) Marine infrastructure

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On a multidisciplinary project involving not only dredging and reclamation, but also a large variety of hydraulic engineering and marine construction disciplines, proper coordination of several sources of know-how and experience is of paramount importance to achieve optimized engineering solutions. This technical approach, together with the challenges of working offshore at 120 kilometers from the coast of Abu Dhabi, are met with enthusiasm by our motivated site team.

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All the countries of the Indian subcontinent area (Pakistan, India, Bangladesh, Sri Lanka, the Maldives) offer a wide range of opportunities thanks to the amazing infrastructural development launched by both the private and public sectors. Tough competition, however, offers a challenging perspective.

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Our Indian company ISD has been particularly active in the area with the completion of the Dhamra port construction project and the deepening of the Karaikal port access channel. Excellent results were delivered during the capital dredging and reclamation works at the port of Kakinada, strengthening our long-standing relations with one of the fast growing Indian ports.

In Colombo, Sri Lanka, we provided early in the year a first batch of marine sands for the construction of the Colombo airport highway. End 2011 we started supplying a second much larger batch of marine sands. The award of a new maintenance dredging contract for Port Qasim introduces our come-back in Pakistan.

The challenges of Singapore for its expansion works continued during 2011. Our existing contract for the Phase 4 amplification at Jurong Island and Tuas B continued at a slow pace with sand relocated from Singapore waters but included also the placing of sand that was brought in by third parties from distances as far as Cambodia, Vietnam, Myanmar and Philippines. Similarly, we were contracted to supply sand for the Pasir Panjang Container Terminal amplification works. We continued our action in Malaysia as a continuation of our Tanjung Bin activity of 2010. We performed dredging and reclamation works for the construction of the PMIP industrial estate Phase 1 that is due for completion in early 2012.

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Cutter suction dredger â&#x20AC;&#x2DC;Al Jarrafâ&#x20AC;&#x2122;.

Dredging and reclamation Works - Kerawalapitiya Muthurajawela - Sri Lanka.

Land reclamation works for harbor construction Dhamra - India.

4-5 Land reclamation works - Tanjung Bin - Johor Malaysia.-

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Marine infrastructure

In Gladstone, Queensland, Australia, we acquired, in joint venture, the largest dredging project ever executed in Australia: the main dredging works for the MOFâ&#x20AC;&#x2122;s to the LNG terminals on Curtis Island and the Wiggins Coal Terminal, including the deepening and widening of several access channels. All parcels, assembled in three different main contracts have been acquired. Execution will take thirty months.

In another ECI project we have been selected as preferred contractor for a massive new coal port in Far North Queensland. Also this year we continued our dredging works in Bige, Papua New Guinea, for OTML. These important dredging works allow for environmentally safe and sustainable mining in the worldâ&#x20AC;&#x2122;s second largest copper-gold mine. The impact of these works is clearly evidenced by the total disappearance of the earlier flooding and by the regeneration of the vegetation along the Fly River.

2 1-2 Dredging works - Port of Gladstone - Australia.

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In preparation for the coming Port Hedland outer port extension (Quantum) for BHP Billiton, we continued phase b and c of the Early Contractor Involvement (ECI) in preparation of the actual works that are to start in 2012.

Experience, local “home” base and reliability keys to success in Australia Mining activity and the export of minerals is a major driver for port development in Australia. Owing to its long-standing experience in Australasia, DEME has acquired a first-rank position in this port construction and development market. DEME’s permanent presence in this market with a strong local content, its partnership abilities and the multidisciplinary nature of its services create a strong feeding ground for trust and reliability. As a matter of fact, today DEME is involved in every segment of the commodity market: coal in Newcastle and Gladstone, iron ore in Port Hedland, offshore LNG in Western Australia and CSG in Gladstone. The dredging of the Western Basin Dredging Project will facilitate both the provision of increased longterm export coal capacity and the export of the LNG produced at the facilities under construction in Gladstone. The AUD 1.3 billion (985 million euro) development of the Western Basin area will expand the footprint of Queensland’s largest multi-commodity port and will make the Port of Gladstone one of the largest ports in Australia. Under this important project, not less than three major contracts have been awarded to Dredging International Australia, in joint venture, throughout 2011.

Parcel 5 The works under Parcel 5 of the WBDD project include dredging to -7.5 m of a 3 km access channel and several access channel ramifications as well as several berth pockets. The specific aim of the Parcel 5 dredging works is to allow early access for heavy equipment and modules to the so called Material Offloading Facilities (MOF’s) on Curtis Island as well as to allow an early start of the LNG jetty construction. A total volume of about 6 million m³ is being dredged, of which about 4 million m³ is disposed of in strictly defined disposal areas 45 km offshore. The remainder is pumped ashore to create a provisional new port area in the Port of Gladstone.

Parcels 1, 3 and 4 The works under Parcels 1, 3 and 4 of the Western Basin Development project include the dredging of various channels, swing basins and bypass channels to -13 m LAT for the access to the various berth pockets, embarkation docks and material offloading facilities. A total volume of 18.5 million m³ will be dredged, of which about 2 million m³ will be disposed of at the East Bank Spoil Ground, at a sailing distance of 45 km, and 16.5 million m³ will be pumped ashore at the Western Basin reclamation area to create a new port area for the Port of Gladstone adjacent to the existing Fisherman’s Landing reclamation area.

Parcel 7 The dredging volume of Parcel 7 is approximately 2.9 million m³ for the construction of one coal berth, comprising a berth pocket, berth pocket extension, departure/arrival channel and a swing basin. The multi-billion dollar industry-funded Wiggins Island Coal Terminal is expected to provide 80 million tons per annum in additional export coal capacity through the Port of Gladstone once fully commissioned. The Wiggins Island Coal Export Terminal Pty Ltd (WICET) is owned and being developed by existing and potential coal exporters in Queensland. The total value of the three contracts awarded to date by the Gladstone Ports Corporation to the Joint Venture for the Western Basin development exceeds 695 million euro.

Gladstone Western Basin LNG Development (Australia) Marine infrastructure

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Executing Australia’s largest dredging contract ever is a challenge on its own, let alone that it is at a throw of the Great Barrier Reef. We have optimized the environmental performance to compensate for nature stresses induced by exceptional climatological circumstances such as the 2011 flooding.

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Mining

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Led by China and India, the emerging markets have placed unprecedented (and growing) demand on natural resources. From gas and oil to iron ore, copper, zinc, and coal, etc. it takes vast quantities of those natural resources to build infrastructure to accommodate explosive growth in population, upward mobility, urbanisation and industrialisation. Today, the BRIC (Brazil, Russia, India and China) countries, but also Australia, play a dominant role in the global mining industry in terms of reserves, production and consumption.

The DEME Group has a permanent presence in all these countries. Moreover, through port and infrastructure development DEME has been able to develop a solid working relationship with the major mining companies that are active in these (but not limited to these) countries. Large-scale works have been or are being executed by DEME Group companies for such high-end miners as BHP Billiton, Rio Tinto, Vale, Hancock, FMG, etc. In recent years, DEME has an ever increasing presence on the Australian market, where a series of large-scale commodity driven projects feed the global maritime infrastructure market. The market is driven amongst others by long-term factors, such as increases in the global population, the growth of the global economy and international trade volumes and the developments on the energy markets.

PORT HEDLAND OUTER HARBOUR FOR BHPIO BHP Iron Ore is planning a 9 billion AUD iron ore mining development comprising the actual mining, transport and rail, storage and port construction. Within this development Dredging International Australia has been chosen by BHP as the preferred contractor for the dredging part of the harbour extension. The dredging works comprise the departure channel, manoeuvring area and berths. The value of this section is estimated at 995 million AUD. Based on the principle of actual Early Contractor Involvement (ECI), DI Australia has performed so far three years of engineering to determine the actual length, outline and position of the navigation channel. In doing so, we have done a considerable effort to optimize the project from a technical, timing and cost-efficiency point of view and to determine the most environmentally friendly and safe way to execute the works. These are important issues for the client to obtain the necessary permits to start the works. For example, we have proposed amongst others the use of DEME’s most powerful ocean-going cutter suction dredgers ‘D’Artagnan’ or ‘Ambiorix’ because of its crew accommodation on board, limiting crew transfers and therefore allowing optimal safety.

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Hay Point expansion project – Queensland Australia.

Fall-Pipe vessel ‘Flintstone’.

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Mining

Dredging International Australia completed, in joint venture, a large development contract for the expansion of the coal export harbour of Newcastle in Australia. The client was Newcastle Coal Infrastructure Group (www.ncig.com.au), a consortium of world’s largest coal miners BHP Billiton, Centennial Coal, Donaldson Coal, Peabody Energy, Felix Resources and Whitehaven Coal. The contract value was AUD 165 million. The assignment included reclamation of land for wharfs, dredging an export harbour and deepening an access channel. A total of 5 million m³ of material has been dredged.

PORT EXPANSION FOR RIO TINTO IN GLADSTONE AND CAPE LAMBERT In recent years, DEME performed as well the deepening works for the construction of an additional Berth N°1 at Fisherman’s Island, Gladstone in Queensland Australia. This was another commodity related infrastructure for allowing massive Rio Tinto Aluminium (formerly Comalco Aluminium) to expand its alumina refinery and increase the annual output of smelter grade alumina from that area. The works were managed by Central Queensland Port Authority (CQPA).

NEW JETTY AT HAY POINT FOR COKING COAL FOR BMA (BHP – MITSUBISHI ALLIANCE) Under a contract with general contractor Bechtel, GeoSea is performing drilling and piling works for the construction of 3 km access jetty and a berthing jetty for coking coal supply for the account of the BHP-Mitsubishi Alliance. GeoSea is working within the MDGS Joint Venture with partner McConnell Dowell.

FRAME CONTRACT FOR VALE IN BRAZIL In Brazil, Dredging International is performing maintenance dredging works for the account of Vale, the largest iron ore mining company and the second largest mining company in the world. Under a four-year frame contract, Dredging International maintains Vale’s deep-sea ports and terminals in Brazil at their required depth to allow safe shipping traffic at all times.

In that same world’s hunger for commodities, DEME’s marine construction specialist GeoSea has completed, also in Australia, the extension of an iron ore jetty for Rio Tinto. The works were executed as subcontractor to McConnell Dowell.

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Hay Point expansion project – Queensland Australia.

Dredging and related services for the maintenance and deepening of the seabed of the port terminals and access channels in the Brazilian territory for Vale - Brazil.

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COAL EXPORT HARBOUR OF NEWCASTLE, AUSTRALIA FOR NCIG

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OCEANFLORE

OceanflORE (ORE stands for Ocean Reserve Extraction) is a joint company between the specialized shipyard IHC Merwede and DEME as a specialized offshore contractor focusing on a research and development program about providing solutions for deep sea mining activities in the fields of phosphates, seafloor massive sulphides (SMS), manganese nodules and other rare earth minerals, and on the other hand preparing guidelines for a sustainable approach of deep sea mining. OceanflORE has initiated research and design work with regard to such issues like excavation of the deposits, vertical transport to the surface, power supply, onboard processing plant, etc. Promising projects have been identified with respect to different kinds of rare minerals and scarce materials. Geologists have calculated that if only half of all known SMSâ&#x20AC;&#x2122;s can be excavated, there will be around four billion tons of ore to be mined from the deep seas. It is expected that the demand for raw materials will double in the coming decades. Existing sources on land will not be able to cater for this demand. Simultaneously, developments in deep-sea mining techniques are moving increasingly quickly and it is becoming clear that deep-sea mining is technically feasible. These trends have led to a situation in which there is increasing, worldwide interest in the options offered by deep-sea mining. In addition, the capital market is becoming increasingly willing to finance this type of project as a result of this growing confidence.

Mining

DEME and IHC Merwede are joining forces within OceanflORE. Their joint expertise enables feasibility studies to be conducted, after which every significant aspect of deep-sea mining can be developed, staffed and operated. These aspects include underwater mining, vertical transport to the surface, onboard processing on the mining ship itself and transportation to the mainland. OceanflORE, therefore, is a party that is capable of providing a unique, pioneering all-in solution for deep-sea mining, including all aspects of project financing. OceanflORE provides the market with an integrated contract mining solution, which focuses on extracting reserves from the ocean floor with its own equipment. OceanflORE, therefore, as a solution provider for mining, focuses entirely on the mining process, allowing the mine owner to focus on his core business and to avoid investment in expensive technology. OceanflORE has the ambition to be the reference company offering an Integrated Contract Mining Solution resulting in a well determined “cost per ton delivered” for our clients and partners. Besides active exploration of a variety of projects all

over the world, OceanflORE focuses today on two main activities: on the one hand the follow-up of deep sea mining initiatives in the field of phosphates and seafloor massive sulphides (SMS’s), and on the other hand preparing guidelines for a sustainable approach of deep sea mining and limiting the as yet unknown environmental impact of future operations. In the past year OceanflORE initiated research and design work with regard to such issues like excavation of the deposits, vertical transport to the surface, power supply, onboard processing plant, etc. As OceanflORE intends to operate in a sustainable way, guidelines were prepared for limiting the potential environmental impact of deep sea mining. Because very little is known about possible impacts as yet, more research is needed. The marine environmental core of DEME’s CCC department is studying in-depth the methods to minimize the impact of several extraction methods on the environment as well as all legal implications of deep see mineral extraction. One further concern is energy efficiency and the power supply that is needed in hyperbaric environments. This applies to amongst others the required cutting forces during excavation, the required weight of the excavation tool, the optimisation of the pick pattern at the ocean floor, the optimisation of the vertical forces in a hyperbaric environment, etc.

Self-supported fall pipe system of the fall pipe vessel ‘Flintstone’ for action in depths until 2,000 m.

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‘OceanflORE’ is capitalising on the increasing demand for both expertise and exploitation opportunities within the sphere of deep-sea mining. OceanflORE has access to DEME company Tideway’s high-tech equipment that can be used with enormous accuracy at the depths that correspond to deep sea mining activities. Another important asset is the fact that OceanflORE can rely on DEME’s extensive experience when it comes to fully processing the extracted materials onboard the mining ship before transporting these to terra firma. These activities encompass onboard, integral processing of the reclaimed material and also washing and separating it. OceanflORE aims to be the preferred partner for mine owners the world over in terms of both feasibility studies and the actual exploitation of deep-sea mining projects.

Energy

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Energy

Throughout the year 2011, DEME’s energyrelated activities and services have been operating in a booming market with enormous business prospects. Energy is not only the lubricant, but also the very engine of economic growth. With a global population increase estimated at 1.7 billion people and 3.5% annual average growth in the global economy between 2010 and 2035, the International Energy Agency (IEA) scenarios anticipate demand for energy to increase by one third in the next quarter of a century. Its most recent ‘World Energy Outlook’ predicts short-term uncertainty about economic growth. However this will make only a marginal difference to longerterm trends. Future needs will, therefore, require the combined and complementary supply of traditional energy resources and renewable energy resources.

Despite its declining dominance, the age of fossil fuel is indeed far from over. According to the IEA, the share of fossil fuels in global primary energy consumption will still remain at a staggering 75% in 2035. The share of natural gas in the global mix will even increase – leading the IEA to speak of a potential ‘Golden Age of Gas’ which “could transform the global energy market”. On the other hand, the share of nonhydro renewables in worldwide power generation is expected to increase from 3% in 2009 to 35% in 2035. It is estimated that 10% of worldwide additional investments in transmission networks will be needed for this purpose, a percentage that even amounts to 25% in the European Union. Huge infrastructure efforts are planned or in process to cope with these challenges, a lot of them situated offshore in a challenging marine environment, far away from “the people’s back yards”. With a number of specialized companies, DEME has been fully committed to service both the Oil & Gas industry and the Offshore Renewable Energy industry and is ready to service this market with a most promising outlook.

Oil and gas Tideway Offshore and Marine Contractors: ready for the next era of energy supply

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The International Energy Agency reckons that global investments in oil & gas infrastructure collectively will account for 20 trillion USD over the period 2011 to 2035 (in year-2010 dollars). In looking for value on these promising markets, Tideway fully benefits from being a part of DEME. Synergies occur with sister companies in the Group. DEME’s diversified equipment supplements Tideway’s proprietary DP fallpipe vessels ‘Rollingstone’, ‘Seahorse’ and ‘Flintstone’. Tideway’s engineering department is supported by central Group services. Complex and innovative bidding proposals and subsequently the actual execution of the works are engineered and prepared in close cooperation with other DEMEspecialists in a multidisciplinary environment.

Some examples of this corporate approach and results of a co-operative spirit in executing projects in the 2011 include:

Tideway executed pre and post-lay stabilization and protection works on the twin 1 220 km Nord Stream gas pipeline between the Russian Federation and Germany, in a co-operative effort with Dredging International and our German subsidiary Nordsee. Besides the precision stone placement along the pipeline route, we built the Greifswald landfall and pre-trenched in the environmentally sensitive Pomeranian Bay in Mecklenburg-Vorpommern. A purpose-built innovative disconnectable rubber guidance device was developed to limit backfill material losses and yet keeping a minimum safety distance to the pipe – a requirement which was

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needed since one of the two gas pipelines at the time of backfilling was already pressurized. The social importance of Nord Stream, and of our contribution, is obvious: by 2030 a full 25% of the additional European gas import will be provided by the two gas pipelines of Nord Stream.

Two further projects in Russia, for which Tideway executed precision stone placement works, underline the position of our Group in the construction of the Russian energy infrastructure. The first project creates conditions and infrastructure for the steady flow of natural gas through the Nord Stream gas lifeline, literally paving the way for Russian gas in Europe. The second project is oil-related. Both projects are located in the High North of the country and were executed with the support of our local partner Mordraga. Crossing the Baydaratskaya Bay over a distance of 50 km between the gas-rich Yamal peninsula and the Russian mainland, several MRTS gas pipelines were covered as a protection against creeping ice. At the Prirazlomnoya Bay project near the southwestern tip of Novaya Zemlya Tideway executed, in challenging arctic conditions, precision stone placement as scour protection around the first ice- resistant ‘Gravity Based Structure’ oil-winning platform. Working together with Chinese stakeholders, regional authorities and our sister company DIAP in Singapore, Tideway carried out some 300 000 tons of precision stone placement on top of three power cables between the island of Hainan and the Chinese mainland. The project secures electricity supply to China’s western- and southernmost semi-tropical island and may eventually reverse the power supply after construction of an electricity plant on Hainan. This contract was executed, in challenging 6 to 7 knots currents, by our brand-new fall pipe vessel ‘Flintstone’ on her maiden trip from Singapore. The importance of our early presence on the Chinese market cannot be overestimated. According to the IEA, China consolidates its position as the world’s largest energy consumer with an estimated energy consumption in 2035 that will be nearly 70% higher than the United States.

A productive co-operative innovation effort between the engineering department of Tideway and the central New Build division of DEME resulted

in development and construction of an entirely new and patented ‘inclined fall pipe system’ (IFPS-patent pending) on the afterdeck of our ‘Rollingstone’, allowing for placing protective rock layers extremely close to the foot of offshore structures. It proved to be a trump on the ‘Deep Panuke’ project off Nova Scotia, where our crew worked in an area known for strong currents, enormous waves and rough weather conditions. This purpose-built device was developed at the request of our client EnCana, who operates a gas production platform in 60 m deep waters off the coast of eastern Canada.

WHEATSTONE LNG PROJECT IN WESTERN AUSTRALIA FOR CHEVRON Dredging International Australia has been awarded a contract to dredge the approach channel, the manoeuvring area and the berths for the Chevron’s new Wheatstone liquefied natural gas (LNG) project nearby the town of Onslow, located along the Australian north-west coast. The contract represents a value of about AUD 1.206 billion (about 977 million euro). The Wheatstone gas field was discovered in 2004 and is located 90 miles (145 km) offshore in the Carnarvon Basin. Chevron Australia Pty Ltd is developing a new liquefied natural gas (LNG) project in West Australia. In 2009, Chevron awarded the engineering and design contract for the first phase of the Wheatstone natural gas development to Bechtel. This phase consists of two LNG production trains, each with a capacity of about 4.3 million tons per year, a domestic gas plant, a product loading facility, a material offloading facility and other infrastructure. The LNG production trains are situated on the Pilbara coast at Ashburton North, 12 km west of the town of Onslow, West Australia. The dredging contract was awarded by Bechtel Australia Pty Ltd to Dredging International (Australia) Pty Ltd and will be executed in cooperation with Great Lakes Dredge & Dock Company of Oak Brook, Illinois – USA. The works include the dredging of the 17 km long approach channel, the manoeuvring area, the berths pockets and the tug harbour. The total dredged volume will exceed 26 million m³ of material and the works will be executed under strict environmental conditions.

Energy

Finland Norway

Vyborg

Estonia

Sweden

Russia

Latvia

Lithuania

Greifswald

Belarus Poland

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Germany

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Trenching and backfilling for the Nord Stream project between Germany and Russia.

Post-lay protection works and scour protection works - Prirazlomnoya - Russia.

Artist Impression - Wheatstone LNG project Australia.

Installation of rock for PFC scour and pipelines protection - Deep Panuke - Canada.

Innovation at work: Inclined Fallpipe for ‘Deep Panuke’ Working in the arctic cold, the rough seas, and the violent gales off the east coast of Canada is bad enough as it is. But manoeuvring extremely close to a gas production platform and stretching precision rock placement parameters to an unprecedented level of accuracy, was the real challenge in the first place. On behalf of Canada’s EnCana corporation, Tideway developed and tested a fully innovative solution, which was subsequently patented. In 2011 this ‘Inclined Fallpipe System’ (IFPS) was successfully deployed for scour protection at the ‘Deep Panuke’ natural gas offshore development project at some 250 km southeast of Halifax, Nova Scotia. Tideway is routinely involved in precision rock placement, which is necessary for protection against erosion, or as a protective layer on top of subsea pipelines against anchoring and other possible damage. This is typically executed through a fallpipe located through a moonpool in the centre of one of Tideway’s proprietary, highly specialized vessels such as Rollingstone, Seahorse and Flintstone. However, this set-up has obvious limitations for rock placement at the very footings of an offshore structure. Since the normal, vertical fallpipe under the moonpool is located midships, a gap of at least 12 m will always remain between the fallpipe and the spudcans. Accurate as the traditional rock placement method is, it is not accurate enough to reach the most critical parts at the footings of the spudcans under an offshore structure. The ‘Deep Panuke’ gas production platform is supported by four enormous spudcans, 54 m high structures which, at their foundation, widen to a diameter of 19 m. Designing, developing, building and testing a creative, feasible and reliable solution was part of the contract between EnCana and Tideway. Tideway came up with the idea of an ‘Inclined Fallpipe System’ (IFPS) and launched a design competition, won by the engineering company KCI. Steel manufacturing company Iemants built the IFPS, in close co-operation with Tideway’s Engineering division. Within six months after the contract signature, tests were successfully completed off Norway and Canada. The IFPS consists of a 50 m long pipe of 1.2 m diameter, built up in separate closed sections which are assembled in modules from the aft deck of the ‘Rollingstone.’ No wires are connected to the lower end of the fallpipe. This fallpipe hangs down from a towering structure at the aft deck, reaching some 20 m behind the vessel. Since the fallpipe extends in an inclined way and no wires are used, the stones can reach the very footings of an offshore structure. All forces that are exerted on this inclined fallpipe are transferred to the tower structure and the foundation on the aft deck. The ‘Deep Panuke’ scour protection contract was successfully executed with unprecedented levels of accuracy at the very footings of four spudcans. With two different gradings of rocks to be used, and several other marine contractors operating at the same time on the same spot, the ‘Deep Panuke’ assignment was not only an example of an innovative approach, but it was just as well challenging in terms of logistics and time management.

The ‘Deep Panuke’ Project (Nova Scotia, Canada) Energy

“

The inclined fall pipe system is a briljant solution for rock precision placement in deep and turbulent water. To make the most of it, the system is a modular one. Its unique properties are not restricted to one vessel’s whereabouts. It is indeed as flexible as we want it to be. We used it on the ‘Rollingstone’ this time. For our projects in the Arctic seas we can place it on our ice class vessel ‘Flintstone’.

”

Energy

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Renewable energy

Project Development: turning innovative ‘green’ and ‘blue’ ideas into reality GREEN ENERGY In the development of major new marine infrastructure projects DEME is used to work upstream, being involved already in a very early stage in the development of new technologies through concession agreements and public-private partnerships (PPP). Within the industry of offshore wind farm development, DEME takes initiatives in several European countries through its concession specialist Power@Sea. On behalf of its clients, Power@Sea supports offshore renewable energy projects from the drawing table over environmental permitting and procurement procedures to assistance with regulation, tendering, financing, construction, distribution, exploitation and life cycle maintenance. Projects are being followed in Belgium, Poland, Holland, Germany and France. Early 2011, Power@Sea became partner of the new knowledge centre for wind energy at sea centralised in Otary. This partnership comprises the green electricity producers Electrawinds and Aspiravi, the investment and development companies Rent-A-Port and Power@Sea, the marine

construction group DEME, the Walloon environmental holding SRIW Environnement and the Flemish and Walloon energy and utility companies Nuhma and Socofe. Otary will construct and run offshore wind farms in Belgium and possibly abroad.

In 2011 Power@Sea, together with the other partners of Otary, continued the development of their domain concessions for the offshore wind farm project Rentel on the Belgian Continental Shelf. The Rentel wind farm will be located 31 km from the Belgian coast. Otary further submitted an application under the name of Seastar, 38 km from the Belgian Coast. Additionally, together with Belgium’s largest utility company Electrabel, Otary has submitted an application under the name ‘THV Mermaid’ for an offshore renewable energy project on the far most available zone for offshore wind in the North Sea (45 km at sea from the coast). Power@Sea took a leading role in this undertaking. Otary has a 65% stake in the Mermaid joint venture. The wind farm planned for this concession would be the largest one of the seven concessions off the Belgian coast.

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In Poland, Power@Sea has applied for a permit for the development, construction and installation of two offshore wind farms, called C-Wind and B-Wind, in the Polish Baltic Sea with an accumulated maximum installed capacity of 400 MW. In Germany, Power@Sea has concluded an agreement for the exclusive development of an offshore wind farm project in the German Marine Areas, called â&#x20AC;&#x2DC;Plantagenetgrundâ&#x20AC;&#x2122;.

BLUE ENERGY Blue energy refers to all forms of energy generation using water, such as tidal power, wave power, electricity resulting from the difference in salt concentrations in salt water and freshwater (electro-osmosis) and electricity from seaweed and algae biomass.

DEME Blue Energy (DBE) produces and transports this energy. In doing so, the company pays particular attention to research and the development, construction, operation and maintenance of its technology and projects.

Flansea A partnership between DBE, the Ghent University, the Port of Oostende, Electrawinds and several Flemish small and medium specialized enterprises that aims to develop a device that converts renewable marine (wave) energy into electricity. In 2011, the FlanSea research focused on the engineering and monitoring of a strong and efficient point absorber for the conversion of wave energy in the environment of the moderate wave climate off the Belgian coast. Subsequent tests will be developed with the aim to commercialize the final product within a time frame of five years.

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Eleanore

DBE also wants to contribute to the creation of suitable electrical infrastructure for maritime energy transport. Therefore, DBE also works on offshore electrical infrastructure for the transport and storage of the power produced. This ranges from transport cables and HV offshore transformer platforms to the construction of so-called offshore plugs, artificial islands and the storage/balancing of the energy generated at sea. The activities with respect to wave and tidal energy, developed by DEME Blue Energy (DBE) are also part of DEME’s strategy of early involvement in innovative projects that are bound eventually to generate a useful spin-off for the DEME Group. Their actions, in combination with GeoSea and Tideway’s references built in offshore wind farm construction, put DEME in the forefront of all future developments and initiatives with respect to blue renewable energy. DBE is developing projects of tidal and wave energy in Belgium, United Kingdom, Scotland and Northern Ireland.

DBE’s strategic partnerships for renewable energy development: In 2011, the Flemish investment company PMV has acquired a 30% stake in DBE. PMV is particularly committed to sustainable economic growth. Through this partnership, DBE combines DEME’s entrepreneurship with PMV’s expertise in investment in innovative high technology.

A cooperation agreement to develop future offshore net infrastructure. This is a partnership between DBE and six more European companies active in the electricity transmission industry, including system operations development, financing, installation, operation and maintenance of such systems, and/or of renewable energy generation. Main goal is to bundle all the competences and strengths involved to actively contribute to the development of future offshore grid infrastructure, more specifically in the North and Baltic Seas, the English Channel, the Celtic Sea and the Irish Sea. DEME Blue Energy, 3E, Alstom Grid, CG Power Systems, Eurogrid International (a holding company of Elia and IFM), and SAG are each in their specific areas actively involved in enabling the development and integration of renewable energy, especially offshore wind and wave and tidal energy, in regard of the European energy and climate protection targets. They aim to boost the development of appropriate transmission infrastructure for the integration of renewable energy generated at sea. More specifically, they wish to work out opportunities together for jointly developing, operating and investing in targeted projects. In addition they plan to provide joint combined services, products and investments to develop, operate and maintain the required marine infrastructure. DBE and its Eleanore partners demonstrate their strong support for the initiatives already taken by the European, national and/or regional authorities to enhance the development of offshore wind generation. They show the willingness of the sector to proactively and clearly contribute to the

‘North Seas Countries Offshore Grid Initiative’, the Memory of Understanding signed by the Ministers of the North Sea Countries Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Sweden and the United Kingdom.

Friends of the Supergrid DBE is also a member of The Friends of the Supergrid (FOSG). This is a group of companies and organisations that have a mutual interest in promoting and influencing the policy and regulatory framework required to enable large-scale interconnection in Europe. With a special insight into the technology needed to create Supergrid the Friends will be empowered to build the know-how to deliver it in practice. The aim of this cooperation agreement is to interconnect all offshore grids and connect these to existing onshore grids, so that power supply can be secured for everyone at all times.

REBO: Renewable Offshore Base Oostende REBO is a Special Purpose Company (SPC) in which the DEME subsidiaries DEME Blue Energy (DBE) and Offshore Wind Assistance (OWA) are partners together with the Port of Ostend, Participatie Maatschappij Vlaanderen (PMV) and Artes, affiliated company of Group Depret. Within this partnership, the Port of Oostende has the objective to offer dedicated infrastructure and port areas with direct access to the sea as logistic support areas to the offshore renewable energy sector. REBO obtained a concession for a period of 25 years for the use of 10 ha of dedicated areas in the outer port of Ostend, with the possibility to extend in the future. Potential clients are offshore wind farm developers, marine contractors and technology suppliers. In 2011 REBO performed infrastructural works to create a 4 ha quay wall area with a bearing capacity of 20 t/m² and soil improvement works. The infrastructure is ready for use as from January 2012. A first client (C-Power) will use this part of the area immediately for the installation works of the Phases II and III of its Thorntonbank project for an extendable period of two years. Infrastructure works in other parts of the concession will continue in 2012 to serve the purposes of other clients.

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Energy

Concept of the FlanSea wave energy buoy.

A pioneering and innovative offshore green energy venture Power@Sea’s main participation at this point remains C-Power’s Thornton Bank project for which in 2011 the construction of the second and third phases has been started successfully. After the financial close of the second and third phases of the offshore wind farm on the Thornton Bank (for a total investment cost of 1 289 million euro, including the refinancing of the operational 30 MW pilot phase), C-Power focused on the execution of the actual construction works. The second and third phases have started successfully and consist in total of the installation of 49 jacket foundations, 48 REpower 6.15 MW wind turbines, the laying of infield cables and a second 150 kV export cable, as well as the installation of an offshore high voltage substation. These 48 REpower 6.15 MW wind turbines will collectively have a total additional capacity of 295 MW, bringing the completed wind farm total capacity to 325 MW, enough to provide power to 600 000 inhabitants and to avoid 450 000 tons of carbon emissions per annum to the environment. Completion is scheduled for 2013. C-Power will thus contribute 10% of the total needed renewable energy capacity for Belgium in order to meet its EU objective to reach 13% renewable energy by 2020. The use of 6.15 MW REpower offshore wind turbines will be a world première: they are more powerful evolution of the existing and currently operating 5 MW turbines installed in the first phase of the C-Power project.

“

The key to our strategic and tactical successes lies in maintaining and following up on all of the parameters. We have to be safe, quality minded, accurate, prompt, watchful, consistent and continuously on full alert. This is also essential and crucial for our customer C-Power and for the involved authorities, and one of the major basic elements of our safety and quality policy.

”

C-Power Offshore Windfarm ‘Thornton Bank’ (Belgium) Energy

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Our experience gained and the innovative tools developed on the Ormonde and Walney projects in the Irish Sea have allowed a most efficient prepiling effort, performed with absolute accuracy and with substantial advance on the planning.

”

Engineering and Construction

C-Power’s offshore wind farm project is the perfect example of synergies working on every level within a multidisciplinary company such as DEME. As a general contractor and solutions provider of all marine works involved in this important and complex project DEME did meet, again in 2011, the crucial challenge of good phasing, harmonizing sequences, coordinating people and vessels and the optimum integration of the wide range of disciplines mobilized within our Group. In 2011, the second and third (final) phases of the C-Power project were started. The following works were executed:

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• Design and fabrication of 25 jacket foundations, including foundation piles

• Presweeping of 25 foundation pits • Transport and installation of 200 piles for jacket foundations • Transport and installation of 24 jacket foundations for the 6.15 MW wind turbines • Transport and installation of 1 jacket foundation for the Offshore Transformer Station (OTS) • Installation (laying and trenching) of 33/36 kV offshore infield cables to connect the turbines to the OTS including crossing with Interconnector Gas pipeline and Concerto South 1 telecom cable

DEME performs all these activities under an Engineering, Procurement and Construction (EPC) contract for the account of C-Power. Whereas the first phase (pilot phase) has been executed on the basis of Gravity Based Foundations (GBF), continued engineering and study work within DEME’s Central Competence Centre, production and R&D departments has resulted in steel jacket foundations being used for the 2nd and 3rd phases. This enabled DEME to submit a financially attractive solution that allows much faster jacket foundation installation. This engineering effort on DEME-level is an ongoing process within the scope of this contract. Monitoring of all processes and permanent striving for optimization of the execution methods allows constant fine-tuning of execution methods. This guarantees the best possible result with optimum quality at the end of this complex challenge.

The entire scope of the marine construction works for the C-Power offshore wind farm project is covered by the multidisciplinary input of the DEME Group: D.E.M.E.

General contractor / solution provider

GeoSea

Contractor for geotechnical investigation

Dredging International

Contractor for seabed leveling Transport and installation contractor for the foundation piles and the wind turbines

Tideway

Contractor for stone dumping works, cable laying and trenching works Contractor for transport and installation of the Offshore Transformer Station (OTS) Contractor for cable crossing Installation and protection

GeoSea GeoSea and Scaldis

Contractors for the installation of the jacket foundations

Scaldis

DEME Environmental Contractors (DEC)

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Energy

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Pre-piling works - Borkum West wind farm project - Germany.

Heavy lift vessel â&#x20AC;&#x2DC;Rambizâ&#x20AC;&#x2122; - installation of OTS Thorntonbank project - Belgium.

Installation of jackets - Thorntonbank project Belgium.

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Energy

GeoSea: Key contractor in offshore offshore installation in the market at this moment. wind farm construction ‘Innovation’ will be able to operate in water depths

After the record year 2010, GeoSea managed to generate another 40% turnover increase in 2011. Prospects for 2012 are even higher. GeoSea owns an impressive fleet of seven jack-up platforms. Yet a new jumbo DP2 jack-up vessel, the ‘Neptune’, was commissioned to GeoSea early March 2012. The vessel has a fixed offshore dynamic crane with a capacity of 600 tons. ‘Neptune’ immediately started its first assignment for the transport from Ostend and installation of the C-Power wind turbines on the Thornton Bank.

GeoSea has also entered into a joint venture company with German Hochtief called HGO Infra Sea Solutions for the construction and operation of the world’s largest DP2 jack-up vessel for offshore wind farms that will be given the name ‘Innovation’. This vessel will be unique in its kind. It has a payload of 8 000 tons and a crane capable of lifting 1 500 tons, making it technically the most advanced vessel for

of more than 50 m. The vessel will be ideally suited for the installation of all types of foundations in the field of renewable energy. ‘Innovation’ is due for delivery from the shipyard Crist in Gdynia (Poland) in 2012.

In 2011, on the C-Power Thornton offshore wind farm GeoSea installed all pre-piles for the 48 jackets, confirming at the same time its unique capability to install piles with millimetre accuracy in water depths of more than 30 m. A test-pile campaign has been executed in the Baltic Sea for the Baltic II windfarm project. Installation works were continued on another 51 foundations on the Walney project (Irish Sea) for Dong Energy, after the first 51 foundations had been installed in 2010. On the large offshore wind farm London Array, GeoSea has installed both offshore transformer stations for Dong Energy, Eon and Masdar. In the German North Sea, the installation works of the Borkum West wind farm project are well underway with the installation of pre-piles for threelegged offshore foundations (tripods) for Trianel. Various site investigation projects for offshore wind farm projects were carried out in Humber Gateway (Eon), Teesside (EDF) and Norther (Belgium). New orders have been obtained for the installation of offshore transformer stations (OTS) on various German offshore wind farms.

Installation of wind turbines with DP2 jack-up vessel ‘Neptune’ - Thorntonbank project - Belgium.

Installation of jacket foundations - Thorntonbank project - Belgium.

Transport of wind turbines with DP2 jack-up vessel ‘Neptune’ - Thorntonbank project - Belgium.

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GeoSea is the specialized DEME company focusing on the offshore foundation techniques, offshore installation works, site investigation and offshore maintenance. Their client base comprises the main utility companies, energy companies, mining groups and public authorities. GeoSea focuses on high-tech marine projects where its engineering capabilities can be combined with the deployment of innovative jack-up vessels.

GeoSea as innovator Based upon and within the context of the execution of the above offshore works, GeoSea’s engineers are constantly injecting the feed-back from their experiences into GeoSea’s new equipment. Their jack-up vessel ‘Goliath’ was a unique tool when it was launched two years ago. Newcomer ‘Neptune’ is again a trend setter in the industry, in power, in working depth and in hoisting capacity.

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For pre-piling purposes of jacket foundations in the Irish Sea, GeoSea developed and patented a revolutionary piling template that allows piling in deep waters with absolute accuracy in harsh offshore conditions (patent pending except for Belgium).

FLiDAR In partnership with 3E, GeoSea is involved in the development of the so-called FLiDAR (Floating Lidar) buoy for cost-effective, accurate offshore wind resource assessment. This innovative tool will allow amongst others fast, efficient and flexible wind resource measurement campaigns and the evaluation of wind resource around and within a wind farm (including turbulence and wakes), before, during and after construction.

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Energy

Installation of wind turbines with DP2 jack-up vessel ‘Neptune’ - Thorntonbank project - Belgium.

Artist Impression ‘Innovation’.

FLiDAR (Floating Lidar buoy).

Offshore Wind Assistance NV (OWA) is a full

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daughter of our hydraulic engineering specialists GeoSea. OWA offers the servicing and maintenance of offshore structures with the focus on offshore wind farms. OWA looks for tailor-made solutions based on safety, quality and rapid intervention. GeoSea’s philosophy behind this is “we maintain what we build”. For indeed, for OWA maintenance covers every aspect of a wind farm: erosion protection and remediation, foundation and turbines maintenance, subsea cable monitoring and maintenance. Specially designed self-propelled jackup platforms enable the company to anticipate on or quickly respond to the clients’ needs.

Based on an appropriate management strategy and a professional monitoring system, OWA develops a maintenance programme and schedule that meets the partner’s needs. This enables the client to anticipate on possible future failures and to guarantee maximum energy production and efficiency. Unexpected failures or defects can be addressed within the shortest possible time without losing time to mobilise or find a jack-up platform suitable for the job.

With OWA, GeoSea extend their commitment towards the energy sector. This enables them to deliver top quality service from start to finish. And in the process they can rely on the pooling resources of a multidisciplinary group like DEME. GeoSea’s experience covers amongst others the maintenance of the wind farm they constructed off the island of Samsoe in Denmark and their present contract for monitoring and maintenance of the Repower offshore wind turbines on the Belgian C-Power project. For this contract OWA will start to operate in 2012 its first two fast crew and equipment transfer vessels ‘Aquata’ and ‘Arista’.

Maintenance

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Energy

Environment

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Environment

DEME Environmental Contractors (DEC), de Vries & van de Wiel, Ecoterres and Extract-Ecoterres are part of the Ecoterres Holding, the environmental group of companies of the DEME Group. In 2011, their activities level showed a slight decrease as compared with 2010. Non-feasibility of the Santos soil remediation and stabilisation project resulted in an early stop of the works. The core of DEC-Ecoterres activities was based in Europe with an emphasis on the UK and Benelux markets. A number of new orders in Scandinavian countries underline DECâ&#x20AC;&#x2122;s European ambitions. In the USA, a new US-based company TerraSea Environmental Solutions Llc will explore the American market. TerraSea is a joint venture company between Great Lakes Dredge & Dock Environmental Inc., i.e. the environmental subsidiary of the largest US dredging company, and Environmental Remediation Holding Inc., which holds the licences in the USA for sediment dewatering/ treatment, soil remediation and environmental dredging owned by DEC. In general, a number of long-term assignments for our environmental specialists are a guarantee for continuity.

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Decontamination of soils, treatment of polluted sediments and hightech cleaning of water with focus on design, build and exploitation and innovative techniques

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Environment

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Remediation dredging at the Vecht - the Netherlands.

Bucket dredger ‘Belgica’ at Work on the Sambre in Dampremy - Belgium.

Treatment of contaminated sediments in the Port of Pescara - Italy.

Remediation of a former wood impregnation site in Söderhamn - Sweden.

Remediation of mercury contaminated sediments in Hengelo - the Netherlands.

Asbestos removal and soil remediation works Hoedhaar - Lokeren - Belgium.

LONG-TERM ASSIGNMENTS BASED ON EXPERIENCE AND TRUST AMORAS

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In Belgium DI-DEC has completed, within the Sereant JV, the first phase of the AMORAS project on 30th September 2011. This phase involved the construction of the dewatering installations and the dry and wet testing of the installations. As from October 2011 the exploitation phase of the project has started. The plant was officially inaugurated in December 2011.

The AMORAS project is a major design, build and exploitation assignment for sediment treatment and storage in the Port of Antwerp, covering a period of 15 years. The project comprises a mechanical dewatering system with an annual capacity of no less than 600 000 tons dry matter.

Carcoke Zeebrugge

DEC continued the remediation of the former Carcoke site in the port of Zeebrugge in Belgium. DEC developed a new innovative thermal desorption plant to clean soils that are heavily contaminated with poly-aromatic hydrocarbons (PAH), cyanides, mineral oils and tar. Over 130 000 tons have been cleaned in 2009-2011. Another 50 000 tons are planned for cleaning in 2012 and beyond.

Environment

Mechanical sediment dewatering plant for Nyrstar in Balen

During zinc production at the Nyrstar company (formerly known as Umicore), a residual product ‘goethite’ is released. This goethite sludge is stored in basins at the premises in Balen. At a production level of 260 000 tons of zinc per year, Nyrstar Balen produces a total quantity of goethite of approximately 75 000 tons of dry matter per year. The process also yields 40 000 tons dry matter of neutralised flotation sludge per year. The company no longer has any capacity to store this sludge, and another solution had to be found.

operate basis the contract to tackle this problem. The works started early 2011 and will be completed by 2015. DEC built a new dewatering system, where both residual flows are compacted. The solid filter cakes are then disposed in the existing landfill on the site. To make maximum use of the existing dump capacity, historic sludge was also excavated and compacted to the maximum in the dewatering system.

Handling, treating and optimizing storage capacity for residual matter from mining activity is an important issue for the mining industry on worldwide basis. DEC’s activity in this context and its extensive experience has attracted the interest of several mining companies. Therefore, this activity is bound to create efficient synergies with other companies of the DEME Group that deliver a range of specialized services to the mining industry.

Aerial view of the AMORAS project (Antwerp Mechanical Dewatering, Recycling and Application of Silt) in Antwerp - Belgium.

Remediation through thermal desorption of the former coking works ‘Carcoke’ in Zeebrugge Belgium.

Mechanical dewatering through filter chamber presses for Nyrstar in Balen - Belgium.

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DEC has been awarded on design, build and

The ‘most polluted’ site in Europe DEC continued the decontamination and rehabilitation of the former Avenue Coking Works project near Chesterfield, UK. This is one of the highest profile projects in the UK remediation sector. The site is now owned by the East Midlands Development Agency (EMDA). The objective is to remediate and redevelop the site and return it to beneficial after-use of public open space, sports pitches and development land. This is a genuine design and build contract and a great example of Early Contractor Involvement (ECI). Back in 2006, DEC, in joint venture, was appointed ‘preferred contractor’ and started a thorough study of the site, which included further site investigation and remediation trials to give us certainty of delivery of the project and which allowed us to build a positive relationship with our client. The physical site works commenced in 2009 and the project is currently programmed for completion in May 2014. DEC is responsible for managing various remediation techniques including complex waste tip sorting, water treatment and ex-situ bioremediation. An alliance-based structure guarantees cost efficiency and a spirit of mutual trust and cooperation. The agreed price of 84 million pounds is a ‘target price’. If we can complete the works for less, we share the saving with our client. Conversely if the actual costs are higher, then the contractor and client will both be required to pay more money into the completion of the project. Actual cost above 10% shall be borne by the contractor. Moreover, DEC has undertaken its first two erosion control projects in the UK with in-situ protection installed at Abberton Reservoir and prefabricated products being installed at the London Gateway Port construction site. Prospects for 2012 are improving with the highest visibility of new remediation projects in the UK since the economic slowdown. DEC UK further strengthened the brand within the UK over the last twelve months by taking an active involvement in the remediation sector. They delivered technical presentations to the industry and training to remediation practitioners in partnership with CL:AIRE – the UK’s leading contaminated land body. Further work with CL:AIRE has led to DEC being a major contributor to the second version of the ‘Development Industry Code of Practice’ – a voluntary guideline to streamline on and off site remediation practices.

“

DEC also spearheads the commercial and contractual management of the site works. Through the excellent team spirit which has been built up on the site we are delivering the project in a safe and sustainable manner. In 2011 the site returned an AFR of 0.00 against 293761 man hours worked. An excellent result – we all go home safely at the end of our working shift and this is exactly as it should be – a safe and happy working environment.

”

Avenue Coking Works Chesterfield (UK) Environment

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Environment

At the sediment treatment centres in Zwijndrecht, Ruisbroek, Zeebrugge, Desteldonk, Heusden-Zolder and Zwijnaarde (Fasiver), DEC treated 350 000 tons of contaminated sediments in 2011. In the Soil Recycling Centres GRC Kallo, situated in the port of Antwerp, GRC Brugge, situated in the port of Zeebrugge and GRC Zolder, situated along the Albert Canal more than 300 000 tons of contaminated soil were treated. Moreover, our Dutch environmental specialists of de Vries & van de Wiel operate several treatment centres in the Netherlands.

Ecoterres owns and operates several soil and sediment recycling centres in Tubize (Vraimont), Charleroi and Liège (Filterres). In France, ExtractEcoterres operates a treatment centre in Bonneuilsur-Marne. A new sediment treatment centre ‘Sedisol’ is operational in Farciennes, in association with Solvay S.A. Sedisol is a treatment unit of contaminated dredged sediments which brings a concrete and durable solution to the problem of the management of the sediments polluted in the Walloon region. Sedisol uses for the treatment of sediments a panel of tested techniques: dehydration, bioremediation and stabilization via the process ‘Novosol’ developed by Solvay and the ULB (University of Brussels). The success of Sedisol is built on a strong partnership between Ecoterres, SRIW, Wallonia’s environmental services company SPAQuE and the Autonomous Port of Charleroi.

This successful partnership offers the Walloon authorities a solution for the storage and treatment of dredged materials from the inland waterways. A first four-year contract was signed end 2010 and treatment has been in full swing throughout 2011. The actual dredging works are executed by DEME company Kalis in joint venture under a separate contract.

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1 Centre for treatment and recycling of dredged material “Sedisol” in Farciennes - Belgium. 2 Soil and Sediment Recycling Centre “GRC Zolder” in Heusen-Zolder - Belgium. 3 Soil Recycling Centre “GRC Kallo” in Beveren-Waas Belgium. 4 Sediment Treatment Centre “SRC Krankeloon” in Zwijndrecht - Belgium. 5 Centre for treatment and recycling of dredged material “SRC Ruisbroek” in Puurs - Belgium.

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A NETWORK OF SEDIMENT AND SOIL TREATMENT CENTRES GUARANTEE OPTIMUM SERVICE

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FASIVER IN ZWIJNAARDE (BROWNFIELD DEVELOPMENT OF THE 42 HA FORMER FABELTA INDUSTRIAL SITE)

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The same need for dredging of inland waterways (amongst others the Canal Ghent-Terneuzen) and storage/treatment of the dredged materials in combination with the need of the city of Ghent for new industrial areas has triggered the FASIVER initiative. A Public Private Partnership (PPP) structure has been set up between partners VMH, the Province of East-Flanders, the City of Ghent, DEC and DOMO Service Gent with the objective: 1. to decontaminate and clean this historical â&#x20AC;&#x2DC;black-pointâ&#x20AC;&#x2122;, 2. to use the site as storage, dewatering and treatment centre for dredged materials 3. to ultimately create a new site for industrial and residential development. In 2011, the Fasiver partners have been dealing mainly with phases 2 and 3 of above process.

Environment

At the end of 2010, another Public Private Partnership (PPP) was created under the denomination Terranova with the Province of East Flanders and the Communities Zelzate and Evergem for the redevelopment of 140 ha of the former Nilefos Chemie site. The site includes a 85 ha gypsum stack that has to be treated and capped. In 2011: • 4 500 native trees and bushes were planted as a buffer between the residential area ‘Klein Rusland’ and the sediment treatment centre under construction; • 20 000 tons of polluted soil were excavated as a first phase of the remediation of a future new 15 ha business park; • 550 000 m³ of water on the gypsum stack was treated and pumped away; • 17 ha of the gypsum stack were capped with a water impermeable clay layer, a drainage layer and 1.5 m of topsoil. Part of the materials used for this capping process is supplied by DEC’s soil recycling centres in Kallo and Ruisbroek. Concurrently, the PPP Terranova Solar is being created with respect to the installation of 240 000 m² of solar panels on top of the capped gypsum stack. This will allow the Terranova PPP to provide the neighbouring communities with green energy. Terranova Solar will be the largest solar energy park in the Benelux. As a complementary action to support all the above initiatives, DEC has created Terrenata, a brownfield development company, together with project development companies BPI (CFE group) and Extensa (Ackermans & van Haaren). Terrenata acquires former industrial sites with the aim of decontaminating them before reclaiming them for the development of sustainable projects.

PURAZUR: A LOGICAL ENVIRONMENTAL STEP FOR DEME Worldwide, only 2.5% of all water is fresh water, of which nearly 90% is readily available. Of all available fresh water, 70% is being used on a global scale today. Further growth of the world population and of industrial development will push both the global water footprint and the need for fresh water as its availability threatens to diminish. This results in a growing need for recycling all types of industrial and domestic waste water back into the fresh water circuit: a challenge for future generations in which DEME hopes to play a major part. In its existence, DEC has gained substantial experience in the treatment of large quantities of groundwater and process water. DEC has founded a new subsidiary company called Purazur that focuses on high technological treatment of industrial waste water. Purazur offers all-in packages that cover every step from design, build and financing to longterm maintenance and operation. In 2011, Purazur moreover signed a privileged partnership agreement with the process water company Induss, establishing the new company Induss San. The agreement forms a strategic alliance concerning industrial water treatment on a national and international level.

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1-2 Terranova: redevelopment of the gypsum stack brownfield in Zelzate - Belgium. 3

Fasiver: redevelopment of the industrial site as temporary sediment treatment centre in Ghent Belgium.

Avenue Coking Works: remediation of a former coking works in Chesterfield - United Kingdom.

acitvities

TERRANOVA (140 HA BROWNFIELD SITE OF FORMER NILEFOS CHEMIE IN THE NORTH OF GHENT)

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General information

Research and development

Increased competitiveness through pioneering innovation

GENERAL INFORMATION

Again in 2011, continuous innovation has been the driving force behind the commercial success of DEME. With some famous technological breakthroughs in the past – nowadays widely applied in the broader dredging business – our production, engineering and research departments always stood at the cradle of innovation. Owing to this tradition of 150-odd years and a historical record of trail-blazing research, daring ship design, trendsetting engines, techniques and vessels and creative software development DEME has been able to evolve to being a multidisciplinary world player, to ‘make the difference’ in a very competitive environment and to become and remain a world leader in our trade.

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DEME has always upheld a truly innovating tradition and continues to invest heavily in innovative plant, equipment, methods and technology. Throughout 2011, DEME promoted the efficient cooperation between our Central Competence Centre, our RMPE (Research, Methodology, Production and Engineering) department and our technical departments focused on both the maintenance of our fleet and construction of new vessels in a methodical, systematic and structured way. We have established formal procedures, wellidentified structures and dedicated tools to mobilize the formidable strength, creativity, knowledge and experience that is embedded in the project management teams, the calculation department, the crews on board our vessels, the regional offices, the highly specialised niche companies. The central focal point is the application of systematic feedback from our work sites into new methods and techniques. This allows quick interventions to streamline processes on site and on board our vessels and efficient ad-hoc developments to sometimes make “the impossible very possible”. DEME takes care to protect its intellectual property amongst others by applications for patent registration. DEME has been awarded many patents over the years and has still many patents pending with regard to its revolutionary, innovative technology. Three initiatives illustrate this methodical approach of innovative technologies and processes. A first program is DRIVE, an acronym for ‘DEME’s Resolve on Innovation and Value Engineering’. It calls for grassroots initiatives that increase productivity, improve efficiency and reduce costs

according to the ‘Lean Six Sigma’ methodology. The ‘Archimedes’-program is a strategic tool to trigger new ideas and, in particular, to follow them up through the various phases of research, small-scale testing and ultimately prototype testing, operational deployment and possibly patenting. Archimedes ranks potential projects against a set of strategic goals, priorities, parameters and benchmarks. A third initiative is DEME’s ‘Central Competence Centre’ where all knowledge and experience from all over the organisation comes together. The Central Competence Centre is a major tool for the project management teams and the area management in making competitive bids for complex, multidisciplinary projects and in proposing or executing creative and often cost-efficient solutions. Thanks to our recently developed ‘Production Assistance Up-link’ (‘PAUL’) communication tool between the dredging operators on board our vessels and regional or central management, the Central Competence Centre has on-line access to dredging parameters at ongoing operations at the other end of the globe. This allows immediate intervention for optimum production whenever required.

the rubber guidance adaptor was connected to the drag head when pumping back the seabed material through the suction pipe on top of the gas pipeline. Whereas the drag head (being a solid steel structure) still was kept at a minimum safe distance from the pipe, the attached rubber guidance device which hung below could approach the pipe much closer. In the unlikely event of the device touching the concrete-covered pipe, it would simply bend without influencing the pipe at all.

This structural approach of innovation clearly bears fruit. In this report we highlight some remarkable achievements of 2011.

The ‘After Cut Depth Check’

Pomeranian bay backfilling project: rubber guidance adaptor The disconnectable rubber guidance device was developed and fixed on the drag head of TSHD ‘Marieke’, to meet the contradictory demands of the client at a 20 km gas pipeline stretch on the seabed in the environmentally sensitive Pomeranian Bay in northern Germany. Since dredging permits at this site of the NordStream pipeline between Russia and Germany were very strict, and the amount of cover material was therefore very limited, this special rubber guidance device was developed to limit backfill material losses. Yet a minimum safety distance from the pipe had to be maintained in all circumstances, since the gas pipeline at the time of backfilling was already pressurised. Keeping a distance and limiting backfill losses seemed to be contradictory demands indeed. While using the standard outfit during dredging,

As during the first part of their trajectory the particles are guided by the rubber device, their free falling height through the water column could be halved – limiting significantly the sideward spreading of the particles. The large cross-surface of the rubber device also reduced the mixture velocity, leaving less energy to the material to float away from the trench. The results far exceeded expectations. Soil losses, which reached values of up to 50% in a previous campaign without the rubber guidance, dropped to a mere 10% – which was not even half of the contractual 25% goal the client had set.

The ‘After Cut Depth Check’ (ACDC) approach was developed to meet a common problem with cutter suction dredging: it is only after a complete area has been dredged that depth profile is measured by multi beam or even still a single beam transducer on board a survey vessel. This procedure inevitably creates a time and money consuming gap, since adjusting the cut depth in deficient areas (‘clean up’) requires the re-use of the cutter suction dredger. Deviations include both overdredging (when the cutter dredged too deep and did in fact unpaid work) and too shallow spots (when later ‘clean up’ is needed for meeting the design depth). ACDC allows for a quick response in adjusting the cut depth. Two single beam transducers (‘echosounders’) are placed at the port and starboard sides of the bow of the cutter pontoon. Because of the swing motion of the cutter suction dredger, the echosounders measure a dense grid behind the cutter head. The depth measurement of the echosounders can be analysed quickly and the actual dredged depth determined. The ACDC benefits are obvious: the echosounder measurements identify high spots that would not

be found with the check lines of the survey vessel, enabling a quick corrective action; it allows for a faster adjustment of the cutting depth to minimise unpaid overdepth; it reduces delays due to survey processing; and the two ‘inexpensive’ single beams produce a grid of equal or even higher quality than can be achieved by a multibeam.

Trailhoover ‘Jade River’

GENERAL INFORMATION

At the end of 2011 a new campaign was launched for the ‘Pilferer’ on the Scheldt River, testing and checking new adaptations with Computational Fluid Dynamics (CFD) calculations. These CFDbased theoretical production calculations were undertaken in a master thesis at the Dredging Engineering department of the University of Delft, under the coaching of prof. dr. ir. Cees van Rhee. The master thesis was a follow-up initiative, after the successful application of the Trailhoover ‘Jade River’ (currently called the ‘Pilferer’) led to the conclusion that additional investigation could lead to better production forecasting. The Trailhoover ‘Jade River’/’Pilferer’ was initially developed to meet tender requirements for an adapted method in parts of the Scheldt River at ‘Gat van Ossenisse’, where 50 Va cables run across in the river bed. According to the tender stipulations, the Pilferermethod guarantees no physical contact with the river bed during the dredging process.

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VINCI ‘Prix de l’innovation 2011’ At a ceremony in London, eight innovative DEME projects were nominated for the famous ‘Prix de l’Innovation’ of the French construction Group Vinci. The eight projects were part of a total of twenty-eight inventions that had been entered by our Group. It was the fifth time that DEME project teams participated in this competition, and so far our engineers have won awards in every single edition. In 2011, DEME won awards for the ‘piling template for offshore foundation installation’, the ‘Self-supported fallpipe system for action in very large depths’ and the ‘milling cutter head’.

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1-2 The rubber guidance device developed on the drag head of the ‘Marieke’.

Piling template for offshore foundation installation

GENERAL INFORMATION

Development and construction of a piling template for offshore foundation installations is a breakthrough innovation, unique in the world, and a big improvement for production and safety.

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This piling template meets the challenges connected to the installation of so-called jacket foundations, consisting of a braced steel structure supporting an offshore wind turbine and secured in the ground by four driven piles. The main challenge in the pre-piling installation method is to drive all four piles in a square pattern while strictly respecting all given tolerances. This is done by the use of massive templates, which are in fact big steel structures for guiding the piles. Early templates were built in two parts, a centre frame and a guiding frame. The award-winning template offers significant improvements in terms of efficiency, time and cost saving, and repositioning. DEME company GeoSea first used this template innovation at the Ormonde offshore wind farm project in the Irish Sea, resulting in a safer execution, a huge gain in net working time, the elimination of a massive crane onboard for the positioning of the steel frames, the exclusion of time consuming and weather dependent ROV operations, the avoiding of repositioning the jack-up platform and an increased guarantee for accurate positioning of the four piles thanks to the very stiff structure of the template.

Self-supported fallpipe system for action in very large dephts Our new generation fall pipe is without precedent. It is the only known solution for a fall pipe capability in water depths of 2 000 m, and it is certainly the only solution ready for operations. While the components may not be new in themselves, their combination in one piece of equipment is unique: two exceptionally high-grade sea water resistant aluminium alloys; the use of the largest extrusion press in the world; specifically developed and specialised Friction Stir Welding process; and specifically developed coating to avoid ‘cold welding’ in the load bearing area. The self-supported fall pipe system for action in very large depths is an answer to the limitations of the current generation of fall pipes, based on the principle that the bottom section is suspended by two steel wires controlled to winches on board. Due to a variety of reasons and the influence of heave motion in particular which induces axial inertial forces, wire breakage would certainly occur in water depths as from approx. 1 300 m. DEME currently holds the actual depth record for fall pipe operations at a depth of 980 m, but even at that level a noticeable amplitude relative to the ship’s deck was already observed. As the winning of oil and gas in ever greater water depths is unavoidable and commercially promising, a completely new design of a fall pipe was being considered. The potential for this pipe to be used in deep sea mining activities was an additional incentive. Innovations were applied in several ways, but the big difference with the previous generation of fall pipes is that every section now hangs on the section above it by means of a newly developed coupling of the double-bayonet (twist lock), for which a patent was acquired under Dutch law. The double rowed bayonet lock is the key to this new generation of fall pipes and an important design breakthrough, increasing the mechanical capability within the limited size and mass. Other important innovations included the used materials, for which we ultimately selected alloys that are used in structural bulkheads of the Joint Strike Fighter. Other crucial elements in this fall pipe are the joints between the coupling and the pipe, which are welded without loss of strength thanks to a patented technique developed by a spin-off of Boeing.

Research and development

High Wind NV

GENERAL INFORMATION

GeoSea is a partner in the consortium High Wind, together with Alstom, SBE, Sirris and Egemin. High Wind NV develops new installation techniques such as robot arms for the installation of offshore wind turbines. These new techniques will allow installation in rough wind conditions and therefore reduce standby and idle time during construction. This highly innovative development is part of the ‘TINAinitiative’ of the Flemish government. TINA stands for Transformation, Innovation and Acceleration with regard to ‘Factories of the Future’. The PMV (Participatie Maatschappij Vlaanderen) will be our partner in this challenging development.

Milling cutter head This type of cutter head is new to the dredging industry. With the aid of the milling cutter head, for the very first time a cutter suction dredger (CSD) was able to dredge in a conventional way large volumes of very strong rock (UCS > 80 MPa). Designing the milling cutter head, developing and testing a prototype, and installing the new device on two of our main CSD’s was one of the main reasons that made DEME the most competitive contractor on the widening and deepening Panama Canal project. Our engineers redesigned the classic cutter head break-out pattern so as to reduce the forces needed to break-out the rock. The key of the new break-out pattern is the smaller rock chip size that was broken out, reducing the needed cutting forces. Three milling cutter heads were developed and built: two for CSD ‘D’Artagnan’ and one prototype for CSD ‘Vlaanderen XIX’. The tests proved that very strong rock could indeed be dredged by a conventional CSD. In addition, the new type of cutter head generates considerably less vibrations, which is very beneficial for the useful life of the ladder, the pontoon and all appendages on the CSD. It also reduces high wear cost, down time and thus loss of production.

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Piling template for offshore foundation installations.

Artist Impression ‘High Wind’.

Milling cutter head.

Investments

Investing in a modern and versatile fleet creates a platform for quality, performance and efficiency

GENERAL INFORMATION

For more than a decade DEME has been switching

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its investment policy in higher gear. Not only has dredging and hydraulic engineering become a quite sophisticated activity, but nowadays it is a very capital-intensive and high-tech business in the first place. The many years of continuous investments by DEME in dredging vessels and hydraulic engineering plant, have resulted in one of the most modern, flexible, and versatile purpose-built fleets in the world – performing to the highest standards of quality, efficiency and environmental footprint. DEME currently owns and operates a fleet of 90 major ships and some 200 auxiliary vessels in every segment, type, size, power and versatility. These characteristics allow DEME to be efficient in coping with challenging and complex multidisciplinary assignments on all continents. As part of our ongoing investment program, the following ships were launched, christened or commissioned in the past year: On 11th June 2011 the 11 650 m³ TSHD ‘Breughel’ was named and launched. With her 18 710 tons loading capacity, ‘Breughel’ perfectly fits into the TSHD segment that includes ‘Brabo’ and ‘Breydel’.

The 1 200 mm dredging pipe allows to dredge at depths of up to 43 m. ‘Breughel’ is equipped with the latest DEME innovations and developments in dredging technology, including the one-manoperated bridge. She is awarded a ‘green’ certificate for minimizing CO2 emissions and for the best CO2 emission/m³ ratio. ‘Breughel’ has a very flexible design, allowing for operations in both deep and shallow water. Even with a maximum load, her draught is limited to a mere 8.15 m. On 30th June 2011 DEME Building Materials (DBM) registered the 5 000 m³ gravel dredger ‘Victor Horta’, a sister ship and further evolution of ‘Charlemagne’, after a naming and launching ceremony had been held in December 2010. With its powerful submersible pump, the 99.9 m long and 20.8 m wide ‘Victor Horta’ is able to extract sand and gravel from a depth of 60 m below sea level. She is specially designed to enter, with a full load of 10 000 tons, Europe’s main landing ports with a relatively reduced water depth. ‘Victor Horta’ is equipped with a state-of-the-art facility for dry discharge with a boom conveyor at a rate of 2 400 tons/OH.

Investment program 2009 - 2013 Selfpropelled split barge ‘Sloeber’ (2,700 m3 )

Delivered in 2009

Selfpropelled split barge ‘Pagadder’ (2,700 m )

Delivered in 2009

Cutter suction dredger ‘Ganga’ (6,250 kW) (ISD)

Delivered in 2009

WID (water injection) ‘Dhamra’ (2,790 kW) (ISD)

Delivered in 2009

Trailing suction hopper dredger ‘Artevelde’ (5,600 m3 )

Delivered in 2009

Self-elevating platform ‘Goliath’

Delivered in 2009

Backhoe Dredger Backacter 1100 ‘Samson’

Delivered in 2010

Cutter suction dredger ‘Al Jarraf’ (12,860 kW) (MEDCO)

Delivered in 2011

Gravel trailer ‘Victor Horta’ (5,000 m3 )

Delivered in 2011

Fallpipe vessel under ice class’Flintstone’ (19,000 DWT)

Delivered in 2011

Seagoing cutter suction dredger ‘Amazone’ (12,860 kW)

Delivered in 2011

New Generation+ megatrailer ‘Congo River’ (30,000 m )

Delivered in 2011

Trailing suction hopper dredger ‘Breughel’ (11,000 m3 )

Delivered in 2011

Backhoe dredger ‘Peter The Great’

Delivered in 2011

Jack-up vessel ‘Neptune’ Seagoing rock cutter suction dredger ‘Ambiorix’ (28,000 kW) Jack-up vessel ‘Innovation’

Delivered in March 2012 Delivered in May 2012 To be delivered in 2012

On 8th July 2011 our new flag ship in the trailing suction hopper dredger fleet, the 30 000 m³ ‘Congo River’ was christened and almost immediately began operations on the Thames for the London Gateway project. The ‘mega’ TSHD measures 168 m in length and is packed with high-tech equipment that makes it one of the best performing and most economical dredgers on today’s market. ‘Congo River’ is an innovative and versatile vessel and very manoeuvrable due to its 38 m wide beam and relatively short length. Its impressive size allows for economically executed long-distance transport, while its shallow draught makes operating at relatively limited depth possible even when fully loaded. With

GENERAL INFORMATION ??????????????????????

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3 4

Justine Henin and Tia Hellebaut, godmothers of the megatrailer ‘Congo River’ and the fall pipe vessel ‘Flintstone’.

Official naming ceremony the New Generation + megatrailer ‘Congo River’.

Trailing suction hopper dredger ‘Breughel’.

5 000 m3 capacity gravel trailer ‘Victor Horta’.

its deep-suction installation, ‘Congo River’ is able to dredge at depths of more than a hundred meter.

GENERAL INFORMATION

At the same ceremony the largest fall pipe vessel in our fleet, ‘Flintstone’, was christened in a virtual way between Zeebrugge and Singapore. This DP2 fall pipe vessel performs highly precise stone dumping to a depth of 2 000 m and is commissioned by our oil and gas specialist Tideway. ‘Flintstone’ can take 19 000 tons of quarry stone on board and meets ice-class criteria, allowing work in very extreme conditions. Its ‘green’ design implies energysaving measures and minimal NO emissions, meeting Lloyd’s Register Code of Environmental Protection standards.

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On 20th July 2011 the self-propelled CSD ‘Al Jarraf’ was handed over to Middle East Dredging Cy (Medco), in which DEME is a major shareholder. This 101.5 x 20 m vessel was built on a Singapore shipyard. It has a total power of 12 860 kW and can effectively dredge to a depth of 30 m. The sister ship ‘Amazone’ is currently under construction. On 23rd September 2011 the launch ceremony took place for the self-elevating heavy-lift jack-up vessel ‘Neptune’, purpose-built for the transport and installation of offshore wind turbines and any other heavy marine offshore structures by the specialist DEME-company GeoSea. This 60 m long and 38 m wide DP2 self-propelled jack-up vessel is equipped with a dedicated 600 tons crane which is fully integrated into the hull. ‘Neptune’ was named early March 2012 and is provided with a Green Passport, delivered by the American Bureau of Shipping (ABS). On 28th October 2011 we launched one of the most powerful and advanced self-propelled rock cutter suction dredgers in the world, the 26 100 kW ‘Ambiorix’, a sister ship of CSD ‘D’Artagnan’. The 123.8 m long and 25.2 m wide ‘Ambiorix’ is suitable for working in heavy soil and rock at water depths of up to 35 m deep, and is equipped with two inboard dredge pumps and one submerged dredge pump on the cutter ladder. The flexible spud carrier includes a buffer system which enables dredging during challenging weather conditions. The vessel is also equipped with a barge loading system. ‘Ambiorix’ will be commissioned early May 2012. On the very last day of 2011, the new backhoe dredger ‘Peter the Great’ was launched on behalf of Novadeal Lts, a joint venture company between

Investments

HGO Infra Sea Solutions, a 50/50% partnership between GeoSea and Hochtief is currently constructing ’Innovation’ - the most sophisticated heavy-duty jack-up lifting vessel on the offshore market. A technical innovation, this vessel with a payload of 8 000 tons and a crane capable of 1 500 tons will operate in water depths of up to 50 m starting in mid 2012. ‘Innovation’ is ideally suited for the installation of all types of offshore foundations and is the only one of its kind in the world. It will be used for the first time at the Global Tech I offshore wind farm in German waters. Our heavy-lift specialist Scaldis has ordered in joint ownership a very powerful, self-propelled DP2 crane ship from Korean shipbuilders STX Offshore Shipbuilding. The design of this new vessel was prepared in-house on the basis of the extensive experience that Scaldis has accumulated hoisting heavy objects in challenging offshore conditions. The vessel will be equipped with two 2 000 ton cranes and will have an extra carrying capacity of 3 000 tons. It will be delivered early 2014. With its 4 000 ton hoisting capacity it will be perfectly fit for offshore installation and decommissioning work for the oil, gas and renewable energy industries.

Backhoe dredger ‘Peter the Great’.

Fallpipe vessel ‘Flintstone’.

Construction of the ‘Innovation’ on the Gdansk shipyard in Poland.

DP 2 self propelled heavy lift jack-up vessel ‘Neptune’.

GENERAL INFORMATION

our Group and a Russian partner Northern Dredging Company (NDC). ‘Peter the Great’ has a length of 60 m, breadth of 17.2 m, depth of 4 m, and deck load capacity of 10 tons per m². The pontoon has three legs of 34 m length each, and it is equipped with a Liebherr P 995 Litronic crane – allowing for dredging at a depth of 18.2 m with a bucket of 11 m³.

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Omnipresence on the globe

Europe

GENERAL INFORMATION

1 Germany 2 France 3 Spain 4 Portugal 5 Italy 6 United Kingdom 7 Ireland 8 Poland 9 Norway 10 Sweden 11 Latvia 12 Lithuania 13 Russia

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Africa and Middle East 1 2 3 4 5 6 7 8 9 10 11 12 13 14

Guinea Nigeria Ghana Angola Mozambique Benin Congo South Africa UAE Qatar Oman Iraq Saudi Arabia Kuwait

America 1 2 3 4 5 6 7

Mexico Panama Venezuela Brazil Colombia Uruguay Canada

Australia and Indian Subcontinent 1 2 3 4 5 6 7

Australia India China Singapore Papua New Guinea Sri Lanka Malaysia

13 11

2 5 4

10 13

GENERAL INFORMATION

12 3 9 11

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7 4 7 5

4 5

The DEME fleet

GENERAL INFORMATION

1 Trailing

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Suction Hopper Dredgers

Congo River Pearl River Nile River Lange Wapper Uilenspiegel Brabo Breughel Vlaanderen XVIII Breydel Antigoon Marieke Reynaert Artevelde Pallieter Vlaanderen XX** Charlemagne Victor Horta Atlantico Due Mellina Jade River Orwell Vlaanderen I Vlaanderen XXI 2 Cutter

Suction Dredgers

D’Artagnan Ambiorix* Al Jarraf ** Amazone Vlaanderen XIX Al Mahaar** Rubens Kaveri Ganga Cap Martin Wombat Kallo Kalis II** Vlaanderen XVI Seckin Bilba Mudsnapper Pixy Blani DC 203

30,000 m3 24,130 m3 17,000 m3 13,700 m3 13,700 m3 11,650 m3 11,650 m3 11,300 m3 9,000 m3 8,400 m3 5,600 m3 5,600 m3 5,600 m3 5,320 m3 5,072 m3 5,000 m3 5,000 m3 4,200 m3 3,650 m3 3,281 m3 2,575 m3 2,065 m3 1,635 m3

28,200 kW 28,200 kW 12,860 kW 12,860 kW 11,728 kW 11,224 kW 10,896 kW 9,862 kW 6,250 kW 5,541 kW 5,341 kW 4,276 kW 2,637 kW 1,786 kW 1,180 kW 1,153 kW 580 kW 465 kW 441 kW

Bucket Dredgers

Adriatico Volkracht II 4

1000 l 900 l

Backhoe Dredgers

Samson Pinocchio Peter The Great ** Big Boss Delilah Zenne Lamme 5

3,854 kW 2,600 kW 1,964 kW 1,928 kW 856 kW 805 kW 270 kW

Grab/Clamshell Dredgers and Crane Pontoons

Johanna + Manitowoc 4600 Serie 3 De Bever + Hitachi 1200 PDC II + Manitowoc 4100 ** Jacqueline De Otter Bayard II + Hitachi 1200 6

Water Injection Dredgers (W.I.D)

Dhamra Parakeet Alligator 7

12,000 m3 /h 10,000 m3 /h 10,000 m3 /h

Dredging Ploughs

Alligator Aramis Buckingham Parakeet Dhamra 8

Lifting Vessels

Rambiz II* ** Rambiz** Norma Zeebrugge I 9

3,600 t 3,300 t 425 t 60 t

D.P. Side Stone Dumping Vessel

Pompeï ** 10 Spreader

1,850 t

Pontoons

Bayard II (DP/DT controlled) Adriatico (different purposes) Thornton I (DP/DT controlled) De Otter

Split Hoppers

Sloeber Pagadder Krankeloon Pantagruele DI 68 DI 69 Vlaanderen VII Vlaanderen VIII 12 Transportation

Barges

DI 9 Chun Hing 7 Swalm 13

4,472 kW 2,700 kW 1,407 kW 1,275 kW 1,275 kW 350 kW

DP2 Self Propelled Heavy Lift Jack-Up Vessels

Innovation* ** (crane) 1,500 t 8,000 t Neptune (crane) 600 t 2,500 t Goliath (crane) 400 t 1,600 t 15 Self-Elevating

Drilling Platforms

Buzzard Vagant De Zeebouwer Halewijn Tijl II Nele** 16

Marine Construction Vessels D.P. Fallpipe Vessels

Flintstone Seahorse** Tideway Rollingstone

19 Sediment

Recycling Centres

SRC Ruisbroek (B) SRC Zeebrugge (B) SRC Krankeloon (B) Sedisol (B)**

Treatment Plants

Mobile thermal desorption plant Mobile soil washing plant ‘SWI I’ Mobile soil washing plant ‘SWI II’ Mobile soil washing plant ‘SWI III’ Mobile soil washing plant ‘SWI IV’ Mobile immobilisation plant Mobile immobilisation plant 21

25 t/h 40 t/h 40 t/h 50 t/h 50 t/h 40 t/h 100 t/h

Mechanical Sediment Dewatering & Treatment Plants

Mobile filter presses 2 belt presses Mobile immobilisation plant 100 t/h Soft soil improvement plant 300 t/h 22

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Drilling Rigs

Drilling Rig AC Drilling Rig PBA 612 Drilling Rig PBA 928 Directional Drilling Rig 80

173 kW 273 kW 403 kW 150 kW

23 Inland Sandwinning Vessels (de Vries & van de Wiel)

1,300 t 1,000 t 600 t 220 t 200 t 50 t

Thornton I: DP/DT multipurpose work barge 17

Recycling Centres

GRC Kallo (B)**, GRC Brugge (B), GRC Zolder (B), Terramundo (UK), Petit Try (B), Filterres (B)**, Cetraval (B)*

20 Soil

1,430 m3 1,000 m3 623 m3

Booster Stations

DI 509** DI 508 Fortuna DI 510 DI 511 DC 512-Blani (DEC) 14

18 Soil

2,735 m3 2,735 m3 2,700 m3 2,000 m3 1,000 m3 1,000 m3 1,000 m3 1,000 m3

19,000 t 18,000 t 13,000 t

TSDH Piet Hein 1,050 m3 TSDH Zeeland 650 m3 Six hopper dredgers Grinza 540-750 m3 CSD Ameland 679 kW Sand loading dredger Texel 1,193 kW Barge unloading dredgers Vlieland and Texel 679-1,193 kW Plough suction dredger Eureka 1,225 kW Earth presser VW 18 746 kW Backhoe dredger IJburg 5 m3 6 VW Backhoe dredgers 1,5-3 m3 31 Transportation barges up to 1,063 m3 24 Self

Propelled Drill and Blast Vessel

Yuan Dong 007** 10 drilling towers

GENERAL INFORMATION

11 Self-propelled

24 * under construction ** co-ownership

Group structure

Dredging & Marine infrastructure Deepening and maintaining navigation channels,

dredging for major port infrastructure development, sand winning and reclamation of new industrial or residential areas, artificial islands, beaches and coastal development.

CFE

Ackermans & van Haaren

• Dredging International N.V.and its branches in Middle East, Spain, The Netherlands, The Philippines, South Africa • Baggerwerken Decloedt en Zoon N.V.

GENERAL INFORMATION

• de Vries & van de Wiel - Kust- en oeverwerken B.V.

DEME

• D.I. Asia Pacific Pte. Ltd. (DIAP) • Dredging International India Pvt. Ltd. • Dredging International UK Ltd.

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• Nordsee Nassbagger- und Tiefbau GmbH • Società Italiana Dragaggi S.p.A. (SIDRA) • Société de Dragage International “S.D.I.” S.A. • Dredging International Services Nigeria Ltd. • Dredging International de Panama S.A. • Dredging International Mexico S.A. • Dragagem Angola Serviços Lda. • Mordraga Ltd. • Dragabras Serviços de Dragagem Ltda. • Dredging International (Australia) Pty. Ltd. • International Seaport Dredging Pvt. Ltd. (India) • Dredging International Luxembourg S.A. • Middle East Dredging Company QSC (“MEDCO”) • Dredging International España • Servimar S.A. • Normalux Maritime S.A. • Earth Moving International Ltd. • Earth Moving Worldwide N.V.

Marine infrastructure

Fluvial and Marine Aggregates Environmental techniques

Offshore related services, such as trenching and backfilling and landfall constructions for pipeline installation, precise stone dumping for protection/stabilisation of pipelines in deep waters; marine drilling and monopile jackets installation, breakwater and harbour dam construction; marine heavy-lifting and salvage operations.

Winning, transport and dry shore delivery of marine aggregates. Washing, processing and grading of sand and gravel for supply to the construction industry.

Environmental dredging, in-situ and ex-situ cleaning and treatment of contaminated dredged materials and polluted soils and brownfield rehabilitation.

• DEME Building Materials N.V.

• DEC N.V. (DEME Environmental Contractors) and its branches in Sweden, Ireland, Italy

• Tideway Luxembourg S.A. • GeoSea N.V. • O.W.A. N.V. (Offshore Wind Assistance)

• DEME Building Materials B.V. • Ecoterres S.A. • DEME Building Materials Ltd. • Cetraval S.A. • OAM-DEME Mineralien G.m.b.H. • Sedisol S.A. • CBD S.A.S. • Kalis S.A.

• GeoSea Luxembourg S.A.

• de Vries & van de Wiel B.V.

• GeoSea Australia Ltd.

Project Development and Concessions and Renewable Energy

• GeoSea branch Germany

The upstream development of new offshore

• Scaldis Salvage & Marine Contractors N.V.

• OceanflORE N.V. • HGO Infrasea Solutions GMBH & CO. KG

infrastructure projects (energy, coastal development, ports, …) including engineering, design and construction, either in an alliancing or in a Public-Private-partnership context. • Power@Sea N.V.

Terminal & Marine services General terminal and port services, towing and

general vessel assistance, terminal/navigation aids and buoy maintenance, single point mooring marine support, maintenance dredging, hydrographic survey, safety/security and environmental protection, general management and consultancy, project financing. • CTOW N.V.

• C-Power N.V. • DEME Blue Energy. N.V. • Energies du Nord S.A.S. • OTARY N.V. • Rebo N.V.

• GRC N.V. (Grondrecyclage Centrum) • SOLDEC Technologías Ambientales S.M. • DEME Environmental Contractors UK Ltd. • Terramundo Ltd. • Extract - Ecoterres S.A. • DEC do Brasil Serviços Ambientais Ltda • DEC Canada Ltd. • Purazur N.V.

GENERAL INFORMATION

• Tideway Offshore and Marine Contractors B.V.

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Presence worldwide

Belgium DREDGING INTERNATIONAL N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 52 11 – F +32 (0)3 250 56 50 info@deme.be – www.deme.be BAGGERWERKEN DECLOEDT EN ZOON N.V. Slijkensesteenweg 2, 8400 Ostend, Belgium T +32 (0)59 24 21 40 – F +32 (0)59 24 21 80 infodecloedt@deme.be – www.decloedt.be

GENERAL INFORMATION

SCALDIS SALVAGE AND MARINE CONTRACTORS N.V. North Trade Building, Noorderlaan 133, bus 31, 2030 Antwerp, Belgium T +32 (0)3 541 69 55 – F +32 (0)3 541 81 93 mail@scaldis-smc.com – www.scaldis-smc.com DEC N.V. (DEME ENVIRONMENTAL CONTRACTORS) Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 54 11 – F +32 (0)3 250 52 53 infodec@deme.be – www.decnv.com

GRC N.V. Haven 1562, St. Jansweg 10, 9130 Kallo, Belgium T +32 (0)3 570 90 30 – F +32 (0)3 570 90 39 info@grckallo.be – www.grckallo.be GRC ZOLDER N.V. Westlaan 262, 3550 Heusden-Zolder, Belgium T +32 (0)13 31 50 06 – F +32 (0)13 31 50 07 info@grczolder.be – www.grczolder.be FASIVER C.V.B.A. Scheldekanaaltragel z/n, 9052 Zwijnaarde, Belgium T +32 (0)9 241 50 00 – F +32 (0)9 248 03 26 infodec@deme.be – www.decnv.com OFFSHORE WIND ASSISTANCE N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 53 12 – F +32 (0)3 250 55 41 owa@deme.be

ECOTERRES HOLDING S.A. Avenue Jean Mermoz 3c, 6041 Gosselies, Belgium T +32 (0)71 25 60 41 – F +32 (0)71 25 60 44

KALIS S.A. Avenue Albert Premier 253, 5000 Namur, Belgium T +32 (0)81 22 31 69 – F +32 (0)81 22 32 02 info@kalis-deme.be

ECOTERRES S.A. Avenue Jean Mermoz 3c, 6041 Gosselies, Belgium T +32 (0)71 25 60 41 – F +32 (0)71 25 60 44 info@ecoterres-deme.be – www.ecoterres.be

SEDISOL S.A. Rue Francisco Ferrer, 245, 6240 Farciennes, Belgium T +32 (0)71 39 09 39 – F +32 (0)71 39 27 29 info@sedisol.be

DEME BUILDING MATERIALS N.V. (DBM) Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 54 23 – F +32 (0)3 250 55 22 infodbm@deme.be – www.dbmnv.be

CETRAVAL S.A. Avenue Jean Mermoz 3c, 6041 Gosselies, Belgium T +32 (0)71 25 60 41 – F +32 (0)71 25 60 44 contact@cetraval.be

GEOSEA N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 53 12 – F +32 (0)3 250 55 41 infogoc@deme.be – www.geosea.be

DBE N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 52 11 – F +32 (0)3 250 56 50 info@deme.be – www.deme.be

POWER@SEA N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 57 29 poweratsea@poweratsea.com – www.poweratsea.com

PURAZUR N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 253 30 11 – F +32 (0)3 250 52 53 info@purazur.be – www.purazur.be

M.D.C.C INSURANCE BROKERS N.V. Avenue Hermann-Debrouxlaan 40-42, 1160 Brussels Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 52 11 – F +32 (0)3 250 56 50

TERRENATA Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 210 68 11 – F +32 (0)3 250 52 53 info@terrenata.be – www.terrenata.be

DEME COORDINATION CENTER N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 54 14 – F +32 (0)3 250 56 55 info@deme.be

CTOW N.V. Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32 (0)3 250 52 11 – F +32 (0)3 250 56 50 info@ctow.be – www.ctow.be

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France SOCIETE DE DRAGAGE INTERNATIONAL “S.D.I.” S.A. Parc du Pont Royal, 251 Avenue du Bois, Bâtiment I, 59130 Lambersart, France T +33 (0)3 20 10 87 30 – F +33 (0)3 20 34 77 08 info@sdi-deme.fr – www.sdi-deme.fr G.I.E GRANULATS DE LA MANCHE ORIENTALE (G.M.O.) Parc du Pont Royal, 251 Avenue du Bois, Bâtiment I, 59130 Lambersart, France T +33 (0)3 20 10 87 30 – F +33 (0)3 20 34 77 08 infodbm@deme.be CBD S.A.S. Rue Louis le Sénéchal, 62250 Ferques, France T +33 (0)3 21 99 67 84 – F +33 (0)3 21 99 67 10 infodbm@deme.be – www.dbmnv.be EXTRACT-ECOTERRES S.A.S. 87 rue Paul Bert, 94290 Villeneuve-le-Roi, France T +33 (0)1 49 61 90 00 – F +33 (0)1 49 61 98 31 info@vinci-construction.fr – www.extract-ecoterres.fr ENERGIES DU NORD S.A.S. Parc du Pont Royal, 251 Avenue du Bois, Bâtiment I, 59130 Lambersart, France T +33 (0)3 20 10 87 30 – F +33 (0)3 20 34 77 08 info@sdi-deme.fr – www.sdi-deme.fr

Germany

Latvia DREDGING INTERNATIONAL N.V. LATVIAN BRANCH Kr. Valdemara iela 19, LV-1010 Riga, Latvia

Luxembourg DREDGING INTERNATIONAL (LUXEMBOURG) Bâtiment ALTO, Route des Trois Cantons 11, L-8399 Windhof, Luxembourg T +352 26 39 30 55 – F +352 26 39 30 56 info@deme.be – www.deme.be GEOSEA LUXEMBOURG S.A. Bâtiment ALTO, Route des Trois Cantons 11, L-8399 Windhof, Luxembourg T +352 26 39 30 55 – F +352 26 39 30 56 infogoc@deme.be TIDEWAY LUXEMBOURG S.A. Bâtiment ALTO, Route des Trois Cantons 11, L-8399 Windhof, Luxembourg T +352 26 39 30 55 – F +352 26 39 30 56 info@deme.be – www.deme.be

Portugal DREDGING INTERNATIONAL PORTUGAL BRANCH Rua Buenos Aires 39, 1200 623 Lisboa, Portugal T +351 21 39 28 840 – F +351 21 39 56 739 portugal.branch@deme.be

Russia DREDGING INTERNATIONAL RUSSIA Business Centre ‘White Nights’, Malaya Morskaya 23 Saint-Petersburg 190000, Russia T +7 (0)812 32 64 513 – F +7 (0)812 32 64 512 dirussia@deme.be

NORDSEE NASSBAGGER- UND TIEFBAU GMBH Anne-Conway-Strasse 9, D-28359 Bremen, Germany T +49 (0)421 33 00 590 – F +49 (0)421 33 00 59 20 info@nordsee-deme.de

MORDRAGA Building 2, rooms 313 – 320, Mezhevoy kanal 3 Saint-Petersburg 190000, Russia T +7 (0)812 32 64 513 – F +7 (0)812 32 64 512 mordraga@deme.be – www.mordrage.ru

OAM-DEME MINERALIEN GMBH Kirchenpauerkai 29, 20457 Hamburg, Germany T +49 (0)40 81 97 87 15 – F +49 (0)40 81 97 87 14 www.dbmnv.be

TIDEWAY MOSCOW Nauchniy proezd 19 Office 501 117246 Moscow, Russia T +7 (0)495 730 09 83 – F +7 (0)495 730 09 83

Italy

Spain

SOCIETA ITALIANA DRAGAGGI S.P.A. “SIDRA” Via Carlo Zucchi 25, 00165 Roma, Italy T +39 (06) 66 04 951 – F +39 (06) 66 04 95 49 info@sidra-deme.it – www.sidra.it

DREDGING INTERNATIONAL N.V. – SUCURSAL EN ESPAÑA Juan Ramón Jiménez 8, 1°, Despacho 2, 28036 Madrid, Spain T +34 (0)91 345 70 70 – F +34 (0)91 350 47 52 di.esp@deme.be

DEC N.V. (DEME ENVIRONMENTAL CONTRACTORS) ITALY BRANCH Via Carlo Zucchi 25, 00165 Roma, Italy T +39 (06) 66 04 951 – F +39 (06) 660 49 549 infodec@deme.be

DREDGING INTERNATIONAL ESPAÑA S.A. Juan Ramón Jiménez 8, 1°, Despacho 2, 28036 Madrid, Spain T +34 (0)91 345 70 70 – F +34 (0)91 350 47 52 di.esp@deme.be

GENERAL INFORMATION

Finland DI SUOMI FINLAND – DREDGING INTERNATIONAL N.V. SIVULIIKE SUOMESSA Unioninkatu 22, FI-00130 Helsinki, Finland T +358 (0)7 310 101 587 – F +358 (0)9 612 3165 info@disf-deme.fi

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Sweden DEC N.V. (DEME ENVIRONMENTAL CONTRACTORS) SCANDINAVIA AND BALTIC STATES BRANCH Terminalgatan 8, 235 39 Vellinge, Sweden T +46 40 45 16 27 – F +46 40 45 48 24 van.den.bossche.peter@deme.be

GENERAL INFORMATION

The Netherlands

122

DEC LTD (DEME ENVIRONMENTAL CONTRACTORS) UNITED KINGDOM BRANCH Greenstede House, 2nd Floor, Wood Street, East Grinstead West Sussex RH19 1UZ, United Kingdom T +44 (0)1342 32 30 00 – F +44 (0)1342 32 60 00 info@decukltd.com – www.decukltd.com

Angola

TIDEWAY BV Minervum 7442, 4817 ZG Breda, The Netherlands P.O. Box 7074, 4800 GB Breda T +31 (0)76 52 04 140 – F +31 (0)76 52 04 150 info@tideway-deme.nl – www.tideway.nl

DRAGAGEM ANGOLA SERVIÇOS LIMITADA Largo Do Cambambe #2, Cruzeiro, Luanda, Angola T +244 222 442 290 – F +244 222 440 222 luanda-office@deme.be

DE VRIES & VAN DE WIEL B.V. Harmenkaag 9, 1741 LA Schagen, The Netherlands P.O. Box 218, 1740 AE Schagen T +31 (0)224 21 12 11 – F +31 (0)224 21 12 99 info@devriesvdwiel.nl – www.devriesvdwiel.nl

DREDGING INTERNATIONAL SERVICES (CYPRUS) LTD – BRANCH OFFICE GHANA No. 2, Ankuah Mensah Street, Dzorwulu, Accra, Ghana P.O. BOX 1938 Kaneshie T +233 30 2 766 131 – F +233 30 2 766 132 dredging@dredging-gh.net

DE VRIES & VAN DE WIEL, KUST- EN OEVERWERKEN B.V. Admiraal Lucashof 6A, 3115 HM Schiedam, The Netherlands P.O. Box 958, 3100 AZ Schiedam T +31 (0)10 204 00 70 – F +31 (0)10 204 00 79 info@vw-kustenoeverwerken.nl – www.vw-kustenoeverwerken.nl

Ghana

Nigeria DREDGING INTERNATIONAL SERVICES NIGERIA – PORT HARCOURT OFFICE 1 Kolokuma Street, Borikiri, Port Harcourt, Nigeria P.O. Box 054 PMB 6133 T +234 (0)84 230 334 – F +234 (0)84 232 997

DEME BUILDING MATERIALS B.V. (DBM) Europaweg-Zuid 4, Havennr 9890, 4389 PD Vlissingen-Oost, The Netherlands P.O. Box 117, 4380 AC Vlissingen T +31 (0)113 67 66 00 – F +31 (0)113 67 66 01 infodbm@deme.be – www.dbmnv.be

DREDGING INTERNATIONAL SERVICES NIGERIA LTD – LAGOS OFFICE 35A Alfred Rewane Road, Falomo Ikoyi, Lagos, Nigeria T +234 (0)1463 08 98/99 – F +234 (0)1463 08 97

DREDGING INTERNATIONAL N.V. BRANCH NEDERLAND Minervum 7442, 4817 ZG Breda, The Netherlands P.O. Box 7074, 4800 GB Breda T +31 (0)76 52 04 140 – F +31 (0)76 52 04 150

DREDGING INTERNATIONAL BAHREIN Dream Building 49, Flat 45, Road 2701, Block 327, Adliya, Bahrain T +973 1 7714361 – F +973 1 7714391 jeuniaux.frank@deme.be

United Kingdom

Bahrain

Kingdom of Saudi Arabia

DREDGING INTERNATIONAL (UK) LTD Greenstede House, Wood Street, East Grinstead West Sussex RH19 1UZ, United Kingdom T +44 (0)1342 32 30 00 – F +44 (0)1342 32 60 00 – infodiuk@diuk-deme.co.uk

DREDGING INTERNATIONAL SAUDI ARABIA CO LTD Al Khobar 31952, Saudi Arabia, P.O. Box 1280 T +966 3 8941700 – F +966 3 8952597 salah.mohamed@deme.be

DEME BUIDLING MATERIALS LTD (DBM) Greenstede House, Wood Street, East Grinstead West Sussex RH19 1UZ, United kingdom T +44 (0)1342 32 30 00 – F +44 (0)1342 32 60 00 infodbm@deme.be

SOCIETA ITALIANA DRAGAGGI LIBYAN BRANCH Al Motahedoon, Adol Street, Ben Ashour, P.O. BOX 6871 Tripoli, Libya T +218 (21) 3609830/32 – F +218 (21)3609834

TERRAMUNDO LTD Off Huntsman Drive, Port Clarence, Landfill Site Middlesborough TS2 1 UE, Cleveland, United Kingdom T +44 (0)78 43 44 77 13 info@decukltd.com – www.terramundo.co.uk

MEDCO Al Fardan Plaza Building, 4th Floor, Al Fardan Plaza, Al Sadd, Doha, Qatar P.O. Box 24745 T +974 4442 67 62 – F +974 4442 67 52 info@medcodredging.com

Libya

Qatar

Presence worldwide

DREDGING INTERNATIONAL ABU DHABI Mohammed Qiran Al Mansoori Building Next Zayed University Street 20, Sector 6, Zone 1, Mezzanine 2 Abu Dhabi, United Arab Emirates P.O. Box 53804 T +971 244 59 231 – F +971 244 59 232 abudhabi@dredging.com MEDCO ABU DHABI Unit C-905 (Upper Level), Abu Dhabi Islamic Bank Building Bainunah Street, Al Bateen Area, Abu Dhabi, United Arab Emirates P.O. Box 53140 T +971 2 658 3144 – F +971 2 658 3155 abudhabi@deme.be

Australia

Far East Dredging Ltd Level 15, Nexxus Building, 41 Connaught Road Central, Hong Kong T +852 28 05 23 26

India INTERNATIONAL SEAPORT DREDGING LTD (ISD) 5th Floor Challam Towers, Old N°62, New N°113 Dr Radhakrishnan Salai, Chennai 600 004, Tamil Nadu, India T +91 44 431 29 900 – F +91 44 431 29 901 isdpl@isdpl.com DREDGING INTERNATIONAL INDIA PVT LTD E-13, Upper Ground Floor, Hauz Khas Mkt, New Delhi 110 016, India T +91 11 26510495 – F +91 11 26512 164

Malaysia TIDEWAY DI SDN BHD Level 20, Menara Standard Chartered, 30 Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia T +60 (0)3 21 17 53 68 – F +60 (0)3 21 17 53 69 twdi@diap-deme.com

Singapore

DREDGING INTERNATIONAL AUSTRALIA PTY LTD – BRISBANE Level 1, Building 7B, 107 Miles Platting Road, Eight Mile Plains, Brisbane Queensland 4113, Australia T +61 7 3340 4040 – F +61 7 3219 0758 info@di-deme.com.au

DREDGING INTERNATIONAL ASIA PACIFIC PTE LTD (DIAP) 371 Beach Road, #24-08 Keypoint, Singapore 199597 T +65 68 63 21 08 – F +65 68 63 11 08 info@diap-deme.com

DREDGING INTERNATIONAL AUSTRALIA PTY LTD – PERTH The Equus Building, Suite 162, Level 3, 580 Hay Street, PERTH WA 6000, Australia T +61 8 6330 4600 – F +61 8 9325 4601 info@di-deme.com.au

OCEANFLORE 371 Beach Road, #24-08 Keypoint, Singapore 199597 T +65 65 59 19 32 – F +65 68 63 11 08 info@oceanflore.com

GEOSEA AUSTRALIA PTY LTD The Equus Building, Suite 162, Level 3, 580 Hay Street, PERTH WA 6000, Australia T +61 8 6330 4650 – F +61 8 9325 4601 www.deme.be TIDEWAY BV AUSTRALIA The Equus Building, Suite 162, Level 3, 580 Hay Street, PERTH WA 6000, Australia www.deme.be

China DREDGING INTERNATIONAL MANAGEMENT CONSULTING (SHANGHAI) LTD 31st Floor, Jin Mao Tower, 88 Shi Ji Avenue Pudong Shanghai 200120, China T +86 21 28 90 98 37 – F +86 21 28 90 91 87 dimc@diap-deme.com

Hong Kong DREDGING INTERNATIONAL HONG KONG Level 15, Nexxus Building, 41 Connaught Road Central, Hong Kong T +852 28 05 23 26 – F +852 28 05 29 27 dihk@diap-deme.com

Taiwan DREDGING INTERNATIONAL TAIWAN 5th Floor, No.3, Lane 51, Section 1 Da’An Road, Da’An District, Taipei City 106, Taiwan R.O.C. T +886 (0)2 23 46 04 08 – F +886 (0)2 23 46 04 12 ditb@diap-deme.com

Vietnam DREDGING INTERNATIONAL VIETNAM Suite 503, 5th Floor, Building B, La Thanh Hotel 218 Doi Can Street, Ba Dinh District, Hanoi, Vietnam T +84 (0)4 376 74 186 – F +84 (0)4 376 74 185 divn@diap-deme.com

Brazil DRAGABRAS SERVIÇOS DE DRAGAGEM LTDA Av. Almirante Barroso 63/2309, Rio de Janeiro-RJ, CEP 20031-913 Brazil T +55 21 22 92 83 40 – F +55 21 22 92 83 42 info@dragabras-deme.com.br www.dragabras-deme.com.br

GENERAL INFORMATION

United Arab Emirates DREDGING INTERNATIONAL DUBAI Corniche Tower, 2nd Floor, Flat 214, Dubai, United Arab Emirates T +971 (0)4 39 75 650 – F +971 (0)4 39 75 855 di_dub@emirates.net.ae

123

DEC DO BRASIL SERVIÇOS AMBIENTAIS LTDA Av. Almirante Barroso 63/1214-parte, Rio de Janeiro-RJ, CEP 20031-003 Brazil T +55 21 22 92 83 40 – F +55 21 2292 83 42 info@decdobrasil.com.br – www.decdobrasil-deme.com.br DEME BRAZIL SERVIÇOS DE DRAGAGEM LTDA Av. Almirante Barroso 63 – Sala 1214-parte Centro, Rio de Janeiro, CEP 20031-003 Brazil MSB MINERAÇÕES SUSTENTÁVEIS DO BRASIL S.A. Alameda Franca 267 – Sala 22-parte, Centro, Sao Paulo, CEP 01422-000 Brazil

GENERAL INFORMATION

Canada

124

DEME ENVIRONMENTAL CONTRACTORS CANADA LTD 2 Bloor Street East, Suite 3500, Toronto ON M4W 1A8, Canada T +1 416 915 4181 – F +1 416 778 8196 infodeccanada@deme.be – www.decnv.com

Colombia DREDGING INTERNATIONAL SERVICES (CYPRUS) LTD – SUCURSAL COLOMBIA Calle 94a, N° 13-59 Of.401, Bogotá, D.C., Colombia T +57 1 805 3840 di-colombia@deme.be – www.deme.be

Mexico DREDGING INTERNATIONAL MÉXICO SA DE CV Calle Montecito N° 38, Piso 33, Oficina 72, Col. Nápoles CP 03810, México, Distrito Federal, Mexico T +52 55 9000 75 00 (Ext.400) – F +52 55 9000 22 77 dimex@deme.be, www.deme.be

Republic of Panama DREDGING INTERNATIONAL DE PANAMÁ S.A. Cocolí, Antigua Base de Rodman, Panamá, República de Panamá T +507 832 2914/15 – F +507 832 29 18 di-panama@deme.be

Venezuela DREDGING INTERNATIONAL N.V. SUCURSAL VENEZUELA Av. Fco. De Miranda Edificio Parque Cirstal, Torre Oeste piso 1 of. 2 Los Palos Grandes, 1062 Caracas, Venezuela T+58 212 28 63 868 – F +58 212 28 52 329 venezuela.branch@deme.be

Cyprus Dredging International (Cyprus) Ltd Julia House, 3 Themistocles Dervis Street 1066 Nicosia T+357 22 555191

Papua New Guinea Dredeco (PNG) Ltd 6th Floor, Credit House, Cuthbertson Street Port Moresby, N.C.D.

GENERAL INFORMATION

Presence worldwide

125

overview

6 axes of activity Dredging and land reclamation Marine and civil engineering Environmental services

Fluvial and marine aggregates Project development & concessions and renewable energy Maritime services

Haven 1025, Scheldedijk 30, 2070 Zwijndrecht, Belgium T +32-(0)3-25 05 211 F +32-(0)3-25 05 650 Email: info@deme.be www.deme.be