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Capacity utilisation - dredger fleet
What it is
Trailing suction hopper dredgers work in open water and sail to disposal sites; cutter suction dredgers cut hard material in confined areas. Fleet composition determines which contracts a dredging company can bid
Utilisation - the share of days a dredger is on paid work - determines returns on a very capital-heavy asset
Impact on industries
- Fleet capability is the entry barrier - a contract requiring a large TSHD can only be bid by owners who have one
- Utilisation is everything: an idle dredger costs crew, finance and maintenance while earning nothing, and there is no alternative use
- Mobilisation between sites is expensive and slow, so geographically scattered contracts erode effective utilisation
- Ageing fleets require replacement capex on a schedule set by the vessel rather than by the order book