In this webinar, the topic of managing financial risks will be linked to the Brisbane Airport dredging and reclamation project. For any contractor operating worldwide, the exposure to fluctuations between your ‘home’ currency and the ‘contract’ currency is a clear and present danger. If this issue is not addressed when negotiating a contract, it could have a rather large impact on the bottom line of your project. The same can be said about the price of fuel. The amount of money spent on fuel is quite large and the price of this commodity can also vary rapidly. So, again the bottom line of your project outcome can be heavily influenced by an increase in the cost of this commodity.
Yves Bosteels of Jan De Nul Group will explain how these two parameters impacted the project’s budget estimate and what a company can do to protect itself against the negative effects of such fluctuations. Questions such as ‘Why is currency a risk and when exactly?’ and ‘What can you do to protect against this risk?’ will be addressed. The webinar is not aimed at making you a financial expert in this field. It will however, allow you to appreciate the gravity and to understand the contractual stipulations that can help you deal with it.
The project involved the reclamation of a 360 hectare platform on a marshland. The platform is now home to the parallel runway of Brisbane Airport and was inaugurated in July 2020. The project was a design and build contract, and had a construction period of 18 months. In total, some 11 million m³ of sand had to be reclaimed over distances that varied from 4–8 km. The works were tightly controlled by the client on three main levels: protection of the environment, the quality of the reclaimed platform and working in and around an operational airfield.